Vietnam and Hong Kong Explore Expansive Trade and Investment Opportunities

Ho Chi Minh City hosted the Vietnam-Hong Kong Business and Investment Matching event, highlighting significant potential for expanded cooperation in various sectors between Vietnam and Hong Kong.

According to Vietnam News Agency, The event, organized by the Institute for Economics and Trade Development (IETD) in collaboration with the Young Executives Club of the Hong Kong General Committee of Commerce (HKGCC) and the Vietnam Trade Office in Hong Kong, underscored the burgeoning trade and investment ties between the two regions.

Nguyen Van Quan, Chairman of the IETD’s Board of Management, noted that trade exchange between Vietnam and Hong Kong has been growing annually by over 10%. Last year, Vietnam’s exports to Hong Kong amounted to 10 billion USD, while imports stood at 1.78 billion USD, registering a year-on-year increase of 19.8%.

In terms of investment, Hong Kong ranks as the 5th largest foreign investor in Vietnam, with 2,164 projects valued at nearly 29.5 billion USD. These investments primarily focus on the processing and manufacturing industry, real estate, and the production and distribution of electricity, gas, and water. Quan highlighted Hong Kong’s role as a significant regional trade and tourism hub and a transit center, presenting vast opportunities for Vietnamese food products and business investments.

Bui Dang Dung, former Deputy Chairman of the National Assembly’s Finance-Budget Committee, emphasized Vietnam’s status as a developing open economy, actively integrating into the regional economy. Vietnam’s political stability, large market, and abundant human resources make it an attractive destination for international, particularly Hong Kong, investors. He pointed out that Hong Kong’s strengths as a financial and banking center can facilitate Vietnam’s connections with major European and American countries, particularly in science-technology, innovation, investment cooperation, finance, trade, and logistics.

Edmond Yue, a member of the HKGCC, remarked on the promising development prospects created by the Vietnam-Hong Kong connection. He noted the increasing interest of Hong Kong businesses in investment and trade cooperation with Vietnam. Yue stated that the forum participants were keen to discuss and visit Vietnamese manufacturing plants and projects seeking investment, aiming to bolster cooperation opportunities.