In an interview granted to Vietnam News Agency correspondents in Hong Kong, Mr To cited a forecast from the International Monetary Fund that Vietnam’s GDP growth is likely to come in at 7-7.5% this year, leading the five emerging economies in ASEAN, which include Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.
With its young population, rapid urbanisation, and abundant workforce, Vietnam is an attractive consumer market.
It is also one of the fastest growing e-commerce markets in Southeast Asia.
According to Bain & Company, Vietnam’s e-commerce sector has increased significantly in recent years, from 8 billion USD in 2020 to 13 billion USD in 2021 and is expected to hit 39 billion USD by 2025.
The ASEAN-Hong Kong Free Trade Agreement, which officially took effect in June 2019, has played a huge role in promoting trade relations between Vietnam and Hong Kong.
Localities in Vietnam and Hong Kong have witnessed close economic and trade cooperation over recent years, Mr To said, noting that Vietnam has long been among Hong Kong’s top 10 trading partners./.
