Guangdong-Hong Kong–Macao Bay Area Entrepreneurs Alliance launches three country chapters in ASEAN

Dr. Jonathan Choi, Chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance, Chairman of the Hong Kong-Vietnam Chamber of Commerce and Chairman of Sunwah Group (Hong Kong), speaks at the launching ceremony on January 12.

HCM City (VNA) - The launching ceremony of Three Country Chapters in ASEAN of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance took place in Ho Chi Minh City on the evening of January 12.

The event was chaired by Dr. Jonathan Choi, Chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance, Chairman of the Hong Kong-Vietnam Chamber of Commerce and Chairman of Sunwah Group (Hong Kong).

Guests attending the event included Mr. Nguyen Van Loi, Member of the Party Central Committee, Secretary of the Binh Duong Provincial Party Committee and Head of the Binh Duong National Assembly Deputy Delegation.

The event attracted the participation of more than 300 guests who are senior leaders and experts from various business associations, investment funds and large enterprises in Vietnam as well as the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”), to promote international economic exchange and cooperation between GBA and Vietnam.           

Speaking at the opening of the event, Dr. Jonathan Choi said, “The Guangdong-Hong Kong-Macao Bay Area (GBA for short) stands as a beacon of strategic development at the national level in China, representing a commitment to regional integration and coordinated development. With a staggering population of 86 million and a regional GDP of 1,943 billion USD in 2022, this vast market is five times the GDP of Hong Kong, contributing over 10% to the nation's overall GDP. The Greater Bay Area not only ranks among the fastest-growing regions in China but also boasts capabilities comparable to developed countries worldwide.”

The launching ceremony in HCM City on January 12.

He also shared that Vietnam, with its strategic geographical location, has always been an attractive destination for Chinese investors in recent years. ASEAN has long been China's largest trading partner. In 2022, trade between the GBA and ASEAN reached 1.4 trillion USD, an increase of 11.8% over the same period last year and accounting for 22.6% of the GBA's total international trade turnover. Furthermore, direct investment from the GBA into ASEAN soared to 17.9 billion USD, up 13.1% year-on-year. This is a very brilliant achievement in the context of global economic recession.

Therefore, Dr Choi also expressed a hope that the launching of four chapters of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance in three Southeast Asian countries, including Hanoi and Ho Chi Minh City, not only represents an important milestone for friendship and partnership between GBA and ASEAN, but also contributes even more to common prosperity and progress.

Director of the Hong Kong Economic and Trade Office in Singapore Owin Fung, also shared about Hong Kong's strengths as one of the most important cities in the GBA along with the new policies that Hong Kong is implementing to promote economic, trade, tourism, education, financial cooperation between Hong Kong and Southeast Asia, especially Vietnam.

“After Hong Kong has recovered from the pandemic, it has re-opened and re-connected with the global business communities,” he said. Underpinning the continued vibrancy of Hong Kong is the advantage of the “one country, two systems” principle, which ensures Hong Kong’s continuing status as an international trade, shipping and financial centre and a critical gateway for investment, trade, travel, talents and more, between the Mainland and the rest of the world,” he said, introducing Hong Kong as the best platform in Asia for businesses to raise capital, since they could access both Mainland and international capital in one location.

Participants in the launching ceremony.

Addressing the event, Deputy Director of the Investment and Trade Promotion Centre Cao Thi Phi Van said: “We have found many similarities between HCMC and the GBA, both of which possess dynamic and inclusive industry landscapes, large and wealthy local consumer bases, and the ability to attract highly skilled talent, and more importantly, both are considered as one of the most investor-friendly regions of the two countries”.

In his role as Executive Vice President of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance and Regional Director of Sunwah Group in ASEAN, Jesse Choi also shared that “Since the 1970s, Sunwah Group has been present in Vietnam and we thrive alongside Vietnam's ascent. Our achievements are recognised through many key projects such as: Sun Wah Tower, Saigon Pearl, Sunwah Pearl, investment into VinaCapital or our coffee business. At the same time, we have also actively promoted the connection of GBA and Vietnam businesses through a wide range of business events in Hanoi and Ho Chi Minh City during last few years, including sponsoring the launching ceremony of four chapters in three Southeast Asian countries of the Guangdong-Hong Kong-Macao Bay Area Entrepreneur Alliance today."

These chapters will play an important supporting role for Greater Bay Area businesses to expand and strengthen their presence in Southeast Asia, especially Vietnam, while also providing more information about the Greater Bay Area to local businesses. According to him, the Guangdong - Hong Kong - Macao Bay Area Entrepreneurs Alliance plans to organise business events and facilitate business cooperation with a keen focus on emerging areas such as: technology and innovation, e-commerce, logistics, financial services, manufacturing, trading and infrastructure development, thereby promoting sustainable economic growth and innovation in the region.

Also within the framework of the ceremony, the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance respectively signed Memorandums of Understanding with the Ho Chi Minh City Young Business People Association, Hong Kong Business Association Vietnam, Canton Business Association Vietnam, China Business Association Ho Chi Minh branch and the Malaysia Business Chamber Vietnam, to strengthen partnership relations, promoting member businesses to exchange and seek business cooperation opportunities in the GBA and Vietnam.

Chairman of Sunwah Group Dr. Jonathan Choi presents certificates to the four chapters of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance in three Southeast Asian countries.

The guests attending the ceremony also witnessed the signing of a Memorandum of Understanding and a Framework Agreement on Cooperation signed respectively by Sunwah Group with partners in Vietnam, including KinhBac City Development Holding Corporation and NaFoods Group. The content of the agreements revolves around the two sides agreeing to implement and support each other on cooperation in a number of key areas such as energy, trade, industrial and urban real estate in Vietnam.

It is known that the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance was established in 2017 by leaders of industry and commerce in 9+2 cities in Guangdong, Hong Kong and Macao. The Alliance's presidium members are representatives of outstanding businesses from major chambers of commerce in Guangdong, Hong Kong and Macao, the Federation of Hong Kong Industries and leaders of Chinese Chambers of Commerce in many countries. Members of the Alliance's presidium include leaders from famous businesses such as Tencent, Amer International Group, Huaxun Fangzhou, as well as other businesses in the ASEAN region, Japan, Korea, the United Kingdom, Australia, Canada, etc. The alliance’s launch of four chapters in three Southeast Asian countries is one of the important milestones, demonstrating the commitment to efforts to promote multi-disciplinary development cooperation in the region, as well as creating a premise for implementing upcoming practical cooperation projects between the parties./.