People at the opening ceremony of the the 28th Macao International Trade and Investment Fair (MIF). Hong Kong (VNA) – Vietnamese companies joined about 1,200 companies and organisations from 14 countries and territories at the 28th Macao International Trade and Investment Fair (MIF) that is running in Macao (China) from October 19-22.
This is the first trade and promotion event held in Macao that Vietnam has attended after the COVID-19 pandemic.
As Macao's most influential international economic and trade event of the year, MIF comprises a series of activities such as exhibitions, conferences and forums, and themed business networking sessions, facilitating connections with international resources and business opportunities for participants.
Vu Thi Thuy, head of the Vietnam Trade Office in Hong Kong and Macao (China), said that trade between Vietnam and Macao has great potential. In recent years, Vietnam's exports to Macao have continuously increased at an impressive rate. Macao people like Vietnamese food products such as rice, coffee, cashew nuts, fruits and consumer goods.
Vietnamese booth at 28th MIF. (Photo: VNA) The total trade turnover between Vietnam and Macao (China) in the first eight months of 2023 reached 250.3 million USD, an increase of 330% over the same period in 2022. Of the amount, Vietnam’s exports to Macau reached 239 million USD, an increase of 379.5% while Vietnam's imports from Macau were valued at 11.2 million USD, an increase of 34.5%.
Regarding investment, in the first nine months of 2023, Macao investors bought shares in Vietnam with a total value of 27.9 million USD. From 1988 to the present, Macao has had 18 foreign direct investment (FDI) projects in Vietnam with a total value of 193.5 million USD./.
