Algernon told the Vietnam News Agency that Hong Kong businesses are very interested in investment in Vietnam and Vietnamese firms also expressed their interest in investment in Hong Kong.

Algernon said he saw substantial opportunities for trade and investment cooperation between the two sides in the time ahead.

Vietnam is a member of the Regional Comprehensive Economic Partnership (RCEP) and the Hong Kong Special Administrative Region Government has applied for accession into the RCEP since early 2022, Algernon said.

He explained that the membership would help to further facilitate the trade between Hong Kong and the RCEP countries.

During the 2017-2021 period, trade between Vietnam and Hong Kong grew 11.8% each year. In 2021 alone, the value reached 220 billion HKD (28.1 billion USD), up 19% year-on-year.

Hong Kong is the fifth largest trade partner of Vietnam, while Vietnam is the seventh largest trade partner of Hong Kong, and the second biggest among the ASEAN countries, only after Singapore. The two-way trade in the first half of 2022 stood at 125 billion HKD, a year-on-year rise of 21%./.