On the occasion of the high-level visit of the Hong Kong Trade Development Council (HKTDC) to Ho Chi Minh City, the Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI-HCM), in cooperation with HKTDC and the Vietnam Trade Promotion Agency (Vietrade), held a workshop: “Hong Kong: International trade partner”. With a strong and independent legal system, the world’s leading financial infrastructure and dynamic people, Hong Kong is an ideal gateway for ASEAN business communities to make inroads into the Chinese market and the entire world. Therefore, this workshop drew the interest and attendance of many Vietnamese businesses with, or with intention to establish, trade and investment cooperation relations with this potential market.
Mr Le Manh Ha, Deputy Chairman of the Office of Government, said that the economic cooperation potential between Vietnam and Hong Kong ( China) is still vast and the bilateral trade - investment ties have thus been constantly consolidated and developed in the past years. The two-way trade value between Vietnam and Hong Kong reached US$16.3 billion in 2015, up 16.7 per cent over 2014. At present, Vietnam is the top export market of Hong Kong in ASEAN and its ninth largest trade partner in the world. The Hong Kong - ASEAN Free Trade Agreement (ASEAN - Hong Kong FTA), expected to conclude negotiations by the end of 2016 and come to the official signing soon after that, will boost Vietnam - Hong Kong trade cooperation to new heights while contributing to developing Tonkin Gulf Economic Rim, particularly Hong Kong - Guangxi (China) - Vietnam Triangle.
He added, “The Government of Vietnam is ready to welcome and create all favourable conditions for foreign investors, including Hong Kong investors, to increase trade and expand investment in Vietnam in a fair, harmonious and competitive environment.
Ms Margaret Fong, Director of HKTDC, said that Hong Kong is an important trade and investment gateway and a stepping stone for Vietnam to reach the Chinese market. Via Hong Kong, Vietnamese goods can penetrate into China as well as other countries. Especially, a lot of Vietnamese companies see Hong Kong as a major partner to connect with international buyers. “With ASEAN - Hong Kong FTA and One Belt, One Road Initiative proposed by the Chinese Government, we believe that there will be more business opportunities opened for Vietnamese and Hong Kong business communities in the future,” she noted.
In investment field, with favourable geographic conditions, synchronous infrastructure, quality human resources and open investment policies, Vietnam has become an ideal destination for many Hong Kong investors in recent years. Hong Kong is currently ranked sixth out of 114 countries and territories investing in Vietnam with 1,080 valid projects and US$16 billion as of April 2016, which focused on manufacturing, processing, electricity and real estate industries. The signing of Trans-Pacific Partnership (TPP) is expected to create new accelerators in Vietnam’s investment attraction. Besides, Hong Kong has promoted the conclusion of ASEAN - Hong Kong FTA which is seen to open up many opportunities for economic cooperation for Hong Kong and ASEAN companies and Vietnam is still the top priority.
Regarding the cooperation between Hong Kong and HCM City, Vice Chairman of HCM City People’s Committee Truong Vinh Tuyen said Hong Kong is ranked 5th among countries and territories investing in the largest city of Vietnam with 332 active projects with US$2.9 billion of registered investment capital. Currently, HCM City is calling foreign investors, including Hong Kong investors, into important sectors such as urban infrastructure, tourism, smart agriculture, and high-tech industries. To increase bilateral trade value and enhance investment efficiency, he hoped HKTDC will actively provide more information and create favourable conditions for investors and enterprises of Vietnam in general and of HCM City in particular to expand investment, production and trade in Hong Kong or to penetrate the Chinese mainland market and other potential ones through Hong Kong.
My Chau
Vietnamese
