(MPI) - Ministry of Planning and Investment coordinated with the Chinese General Chamber of Commerce (CGCC), the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Entrepreneurs Union, and the Hong Kong - Vietnam Chamber of Commerce (HKVCC) in Hanoi on January 10 to hold the Vietnam and Hong Kong-Guangdong-Macao (China) partnership business forum.
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MPI Deputy Minister Tran Duy Dong speaks at the forum. Photo: MPI |
The event focused on introducing Hong Kong’s recent development, and Vietnam’s investment environment and incentives, aiming to call on Hong Kong investors to increase their investment in Vietnam, especially in some areas as machining, manufacturing, real estate, trade, services, infrastructure and regional economy development.
In his opening speech, Deputy Minister of Planning and Investment Tran Duy Dong highlighted, bilateral trade between Hong Kong and Vietnam maintained a good growth momentum.
Regarding trade, Vietnam is Hong Kong’s eighth largest trading partner. In 2021, the import-export turnover of the two sides reached 13.5 billion USD; by November 2022, Vietnam raked in 10 billion USD from exporting goods to Hong Kong, while spending 1.78 billion USD on importing from it.
Meanwhile, Hong Kong remains the fifth largest foreign investor in Vietnam with 2,164 projects worth nearly 29.5 billion USD, mainly in processing, manufacturing, real estate, production and distribution of electricity, gas, and water.
Vietnam welcomes Hong Kong investors to invest in some areas of Hong Kong’s strength and Vietnam’s demand such as hi-tech, innovation, digital transformation, smart city, logistics services, trade and services, Dong noted.
The forum is a chance for the two sides to share new investment and trade trends and solutions to improve Vietnam's investment environment, and presenting an opportunity to propose measures to better the efficiency of cooperation between the two sides.
The MPI will always create optimal conditions for foreign investors, including those from Hong Kong, to invest and do business effectively in Vietnam, he said.
The deputy minister expressed the hope that the economic relations between Vietnam and Hong Kong will develop to new heights, towards prosperity and sustainable development of their business community.
For his part, Jonathan Choi, Chairman of the CGCC, GBA Union, HKVCC and Chairman of Sunwah Group said Vietnam, being one of the fastest developing countries in the region, especially in post-pandemic period, is an attractive destination for Chinese businesses, especially those from Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area of China.
Choi affirmed, the forum contributes to strengthening the partnership between the two sides, creating favourable conditions for bilateral economic cooperation between Hong Kong, the GBA of China and Vietnam./.
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According to the Foreign Investment Agency, Ministry of Planning and Investment, as of October 2022, Hong Kong was the fifth largest investor in Vietnam after the Republic of Korea, Japan, Singapore, Taiwan (China) with nearly 2,200 projects and 30 billion USD of total investment capital registered. The main industries that Hong Kong has invested in Vietnam include processing, manufacturing, apparel, services, real estate, hotels and restaurants. |
Bao Linh
Ministry of Planning and Investment