Monday, October 24 2016


PM urges stronger Hong Kong ties

Update: September, 15/2016 - 10:35
Prime Minister Nguyễn Xuân Phúc arrived in Hong Kong, the third leg of his official visit to China under the invitation of Premier Li Keqiang, yesterday. — Photo

HONG KONG — Prime Minister Nguyễn Xuân Phúc arrived in Hong Kong, the third leg of his official visit to China under the invitation of Premier Li Keqiang, yesterday.

He was welcomed at the Hong Kong international airport by leaders of the Hong Kong Special Administrative Region Government, an honourary representative of Hong Kong’s Chief Executive, and Vietnamese Consulate General in Hong Kong and Macau Hoàng Chí Trung, among others.

During his stay, PM Phúc will meet Hong Kong’s Chief Executive Leung Chun-ying, and receive Chief Executive of the Hong Kong Government Carri Lam.

Later the same day, PM Phúc attended the Hong Kong-Vietnam Business & Investment Forum, expressing his hope that Hong Kong - a leading financial centre of the region and the world – can help with credit mobilisation for Việt Nam’s development.

He said that Việt Nam would create the best possible conditions for Hong Kong businesses to invest in banking, finance, insurance, maritime transport services, infrastructure, electronic components, support industry, processing and farm produce.

“The Vietnamese Government considers your success our success,” Phúc said.

Briefing the forum on Việt Nam’s socio-economic situation, he said the country’s trade turnover has been growing by an average of 15 per cent a year for years, hitting US$330 billion last year.

More than 110 countries and territories worldwide have invested in Việt Nam with more than 21,000 projects with total registered capital of nearly $300 billion, he said.

He highlighted the fact that Việt Nam has engaged to 12 free trade agreements, including the Trans-Pacific Partnership (TPP) and the Việt Nam -EU agreement.

The country is negotiating four other trade deals, including a free trade agreement between ASEAN and Hong Kong.

The PM also cited the World Bank’s moving the country up three places in its business climate rankings, noting that the country is striving to be in the top four of ASEAN in 2017.

“Việt Nam has a stable socio-political situation and the Vietnamese Government is exerting efforts to build a healthy business and investment climate and streamline administrative procedures,” he said.

He briefed the forum on his meetings with Chinese leaders, saying that they reached consensus on strategic orientations to boost bilateral co-operation, focusing on economic and trade links.

Việt Nam and China aim to raise bilateral trade to $100 billion this year, he said, stressing that Việt Nam will be one of China’s largest trade partners in ASEAN.

Permanent Honourary President of the Chinese General Chamber of Commerce in Hong Kong, Jonathan Choi, who is also Chairman of the Hong Kong- Việt Nam Chamber of Commerce, lauded the Vietnamese Government’s resolve to boost the country’s economic growth.

Việt Nam plays an important role in development of countries in East Asia and is one of the fastest-growing economies in ASEAN with GDP hitting 6.7 per cent in 2015, he said, describing a large and young workforce as Việt Nam’s advantage.

According to him, Hong Kong has favourable conditions to promote trade co-operation between China and ASEAN countries.

Choi expressed his hope that Hong Kong and Vietnamese businesses will support each other to make the best use of opportunities afforded by the “One Belt, One Road” initiative and the “Two Corridors, One Economic Belt” framework.

Rimsky Yeun, Acting Chief Executive of the Hong Kong Special Administrative Region, hailed co-operation between Hong Kong and Việt Nam.

He said Việt Nam was Hong Kong’s ninth largest trade partner in 2015 with two-way trade reaching nearly $11 billion.

He called on Vietnamese businesses to up co-operation with their Hong Kong partners, and the Vietnamese Government to create good conditions for Hong Kong investors in the country.

Last year, Hong Kong was the sixth largest foreign investor in Việt Nam, Yeun said, reassuring that Hong Kong will continue expandng its investments in the Southeast Asian nation and assist Vietnamese businesses in accessing the Hong Kong market and China.

The forum witnessed the signing of ten agreements and contracts valued at $10 billion between participating businesses.

The Vietnam Chamber of Commerce and Industry also inked deals with the Chinese General Chamber of Commerce in Hong Kong, the Hong Kong- Việt Nam Chamber of Commerce and the Hong Kong Trade Development Council. — VNS

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