Business

Vietnamese, Hong Kong businesses seek stronger partnership

More than 40 enterprises from Hong Kong (China) and hundreds of Vietnamese firms gathered at an event in Ho Chi Minh City on March 21 to seek opportunities to expand partnership.
HCM City (VNA) – More than 40 enterprises from Hong Kong (China) andhundreds of Vietnamese firms gathered at an event in Ho Chi Minh City on March21 to seek opportunities to expand partnership.

Addressing the event, Edward Yau, Secretary for Commerce and EconomicDevelopment of Hong Kong, who led the Hong Kong business delegation, said that thevisit of the firms to Vietnam aims to foster connections with Vietnamese peers andfind solutions to lift up the partnership.

Participants focusedon cooperation opportunities in production and investment, as well asfinance-banking, infrastructure, legal and arbitration issues, thus exploitingthe newly-signed free trade agreement between Hong Kong and ASEAN.

According to the HongKong side, Hong Kong was the ninth largest trade partner and fifth biggestimporter of Vietnam with two-way trade reaching 18 billion USD in 2016.

In the past fiveyears, trade partnership has seen double-digit growth. Hong Kong was one of thefirst foreign investors in Ho Chi Minh City.

Vietnam is among 25most attractive destinations of Hong Kong businesses. Total Hong Kong’s FDI toVietnam has hit 1.6 billion USD.

The trade andinvestment cooperation between the two sides has yet to match potential of thetwo sides, stated Yau.

Meanwhile, MargaretFong, head of the Hong Kong Trade Development Council, said that Vietnam hasshown impressive growth over decades. Trade ties between Vietnam and Hong Kongrose 43 percent over the past years, she said, holding that there is room forboth sides to further expand the partnership.

She revealed that in thisSeptember, Hong Kong will organise a festival and exhibition event with theparticipation of over 100 life-style brands to introduce to Vietnamesecustomers about fashion, entertainment and foods of Hong Kong.

Leading experts inlogistics, e-commerce from Hong Kong will share the way to broaden market forVietnam’s services and products, she said, adding that the events will not onlyopen up new business opportunities but also strengthen mutual understandingbetween the two sides.-VNA
VNA
#Hong Kong #Edward Yau #ree trade agreement between Hong Kong and ASEAN #Hong Kong’s FDI to Vietnam #Vietnam #Vuetnam news #Vietnam News Agency Hong Kong
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