Hong Kong Investors Interested in Vietnam Market

More and more enterprises of Hong Kong are seeking investment opportunities in Vietnam that just joined the World Trade Organization (WTO) in January this year, the “Asia Times Online” said July 8.

 

Compared with rather high production costs of China, the Vietnamese market boasts lost-cost labor force, competitive income level and growing demand for real estate development will be a promising land for Hong Kong investors, Eddie Yeung, director of Hong Kong’s construction firm of Chun Wo Holdings was cited by the newspaper as saying.

 

Chun Wo Holdings is planning to invest a multifaceted real estate project in Ho Chi Minh City.

 

Peter Woo Kwong-Ching, chairman of the government-affiliated Hong Kong Trade Development Council (TDC) said that Hong Kong businessmen are particularly interested in Vietnam’s fields of garments and electronics.

 

Woo led a 17-member delegation, including representatives from Hong Kong 's clothing, jewelry, financial, logistics and electric appliance sectors, to Vietnam from June 18-21 in order capture the fresh business opportunities.

 

The official noted that Hong Kong investors should pour capitals into Vietnam because more and more world leading partners including the U.S. are being attracted to the Southeast Asian country.

 

Trade between Vietnam and Hong Kong reportedly grew 19.5 per cent to US$2.1 billion in 2006. Hong Kong invested overUS$600 million in FDI projects in Vietnam, ranking first among countries and territories in Vietnam. (VNA)