Binh Phuoc seeks to beef up investment cooperation with Hong Kong
A delegation from the southern province of Binh Phuoc led by Secretary of the provincial Party Committee Nguyen Manh Cuong paid a working trip to Hong Kong from April 11-12 to seek stronger partnership with China’s special administrative region.
An overview of the Binh Phuoc-Hong Kong investment promotion conference (Photo: VNA)Receiving the delegation on April 11, Secretary for Commerce and Economic Development of Hong Kong Algernon Yau underlined his impression at the dynamic development of Vietnam during his visit to the country in January, and highly valued the partnership between Hong Kong and Vietnam.
He revealed that he will return to Vietnam during his trips to Southeast Asian countries in the time to come.
Cuong briefed the host on the socio-economic situation of Binh Phuoc and its orientations in attracting foreign investment. He said that Binh Phuoc is one of the localities with the highest GDP growth rate in the country.
He said that there are only a few projects invested by Hong Kong investors in the province, underlining that the with various policies to attract foreign investors and strong growth, Binh Phuoc offers great investment opportunities to foreign investors, including those from Hong Kong.
Later the same day, an investment promotion conference was held to introduce the potential of Binh Phuoc to Hong Kong investors and businesses.
Addressing the event, Vietnamese Consul General in Hong Kong Pham Binh Dam said that for many years, Hong Kong has been the fifth largest investor and eighth biggest trade partner of Vietnam. Two-way trade reached about 33 billion USD in 2022, up 16% year on year, he noted, adding that Vietnam offers great investment and business opportunities to Hong Kong.
Vice Chairman of the provincial People’s Committee Huynh Anh Minh said that Binh Phuoc has an important role in the East-West economic corridor, with great potential for industrial development, meeting requirements from Hong Kong investors.
Executive Deputy Chairman of the Federation of Hong Kong Industries Anthony Lam suggested the Vietnamese Government upgrade the infrastructure system in not only major cities such as Ho Chi Minh City and Hanoi but also in their nearby localities, as infrastructure plays an important role in turning Vietnam into a world production hub in the future.
With a population of about 100 million, Vietnam has good conditions to become an industrial country, he said, revealing that in late May and early June, the federation will send a delegation to Vietnam to seek investment opportunities.
Concluding the conference, Cuong said that the province plans to call for investment in areas of industrial park development, golf course, hotel and housing projects, and manufacturing-processing industry.
At a meeting with Deputy Executive Director of Hong Kong Trade Development Council (HKTDC) Patrick Lau on April 12, the Binh Phuoc leader introduced the locality’s strengths and plans to construct highways to promote transport development, serving economic growth.
Patrick Lau said that the HKTDC, which specialises in organising Hong Kong's trade fairs, is willing to support the connections between the two sides and create cooperation opportunities for Hong Kong firms and their Vietnamese partners.
Within the visit’s framework, Cuong also had meetings with Longboom and Swire financial groups of Hong Kong./.
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