Monday, September 25 2017

VietNamNews

VN, Guangdong, Hong Kong seek more business opportunities

Update: July, 20/2017 - 14:45
Deputy Foreign Minister Lê Hoài Trung at the event. — Photo VNA
Viet Nam News

HÀ NỘI – A seminar on the economic and trade co-operation between Việt Nam and Guangdong-Hong Kong (China) was held in Hà Nội on Wednesday.

The event saw the participation of senior officials from 14 Vietnamese cities and provinces, and nearly 200 businesses from both sides.

Speaking at the ceremony, Deputy Foreign Minister Lê Hoài Trung said China has been Việt Nam’s largest trade partner for 13 consecutive years. The countries’ two-way trade touched US$72 billion last year, or one-fifth of Việt Nam’s total export.

Last year, China ranked eighth among the top 10 foreign investors in Việt Nam, with a total registered capital of US$10.5 billion.

Two-way trade between Việt Nam and Guangdong and Hong Kong reached $17 billion and $6.09 billion, respectively. As of March, Hong Kong was sixth among the top 10 foreign investors, with a total registered capital of $17 billion.

Trung said he was optimistic that bilateral ties would thrive, given that the Vietnamese economy has maintained a growth of over 6 per cent despite the global economic and financial crisis.

The minister said Việt Nam was becoming an important link in the global value chain, particularly in the fields of electronics, garments, agriculture and fisheries. And Hong Kong is a significant gateway for Vietnamese goods to enter the Chinese market.

Almost all industries and sectors are developing strongly in Việt Nam, from transport infrastructure, urban planning and development and energy to high-tech agriculture, machinery engineering and the support industry, Trung emphasised, adding that the government is working to step up reforms and global integration.

Hu Suo Jin, Commercial and Economic Counsellor at the Chinese embassy, hailed Guangdong’s high gross domestic product over the past 28 years and described Hong Kong as a major financial, trade and transportation centre for China. The embassy will continue to serve as a bridge connecting the two countries’ businesses in the future, he added.

A senior official from Guangdong Province said Việt Nam’s farm produce, such as rice and fruits, are popular in Guangdong, while their consumer goods, such as footwear, apparel and electronics, have attracted Vietnamese consumers. In 2016, Guangdong poured around $207 million into Việt Nam.

Guangdong authorities are also providing support to the An Dương industrial zone in Hải Phòng, and hope it will develop into a model industrial zone.

The event helped all participating firms learn more about business opportunities and market demand on both sides. — VNS

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