Việt Nam News

Business meeting between Việt Nam and Hong Kong (China) can open up numerous opportunities

March 19, 2024 - 23:05

Việt Nam and Hong Kong (China) have great potential to promote cooperation in fields from finance to technology, food, and consumer goods.

Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Vo Tan Thanh speaks at the business meeting. — VNA/VNS Photo

HCM CITY — Việt Nam and Hong Kong (China) have great potential to promote cooperation in fields from finance to technology, food, and consumer goods, heard a business meeting held in HCM City on March 19 by the Hong Kong Economic and Trade Office in Singapore and Invest Hong Kong.

Attending the event, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Vo Tan Thanh said that Hong Kong (China) is among Việt Nam's 10 largest trading partners with bilateral trade estimated at US$11.24 billion in 2023. Hong Kong's investment in Việt Nam last year reached $4.68 billion, ranking third among more than 100 countries and territories investing in Việt Nam.

Meanwhile, Việt Nam is the 2nd largest trading partner of Hong Kong (China) among ASEAN countries and the 7th largest trading partner of Hong Kong globally.

According to Thanh, Hong Kong has advantages in being a gateway connecting investment, trade, finance, and logistics between China and the region and the world, which is an important basis for promoting economic relations between Việt Nam and Hong Kong as well as between the ASEAN region and East Asian economies and the world.

Owin Fung, Director of the Hong Kong Economic and Trade Office in Singapore, said that Hong Kong (China) is one of the reliable partners when Vietnamese businesses want to expand their business abroad. He stressed that Hong Kong not only provides a stable business environment but also helps Vietnamese businesses expand connections with other markets in mainland China.

Noting that Ho Chi Minh City is planning to build a regional financial centre, Fung said as one of the world's major financial centre, Hong Kong is willing to share experiences with the city in this realm.

Talking about the business environment in Hong Kong, Director-General of Invest Hong Kong (InvestHK) Alpha Lau said that Hong Kong has a strategic position in connecting the region to the world. It also has special advantages including a hub of finance, transportation, and international trade.

She suggested that the fashion industry, food and beverage, agricultural products, and consumer goods are among areas with good growth potential where businesses from both sides can cooperate in doing business in Hong Kong. — VNS

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