Hong Kong firms seek more cooperation opportunities in Vietnam

Hanoi – A business delegation of Hong Kong (China) will visit Hanoi and Ho Chi Minh City from January 8-14 to seek economic and investment cooperation opportunities between Vietnam and Hong Kong and Greater Bay Area in particular, and China in general.

With around 60 members, it can be said that this will be the biggest trade and investment promotion delegation between Vietnam and Hong Kong since the COVID-19 outbreaks.

The delegation will be led by Jonathan Choi, Chairman of the Chinese Chamber of Commerce in Hong Kong, Chairman of the Guangdong-Hong Kong-Macau Greater Bay Area Entrepreneurs’ Union, Chairman of the Hong Kong-Vietnam Chamber of Commerce, and Chairman of Sunwah Group, which has run business in Vietnam for more than 50 years.

The delegation plans to coordinate with Vietnamese ministries and sectors to organize a seminar on connecting Hong Kong-Greater Bay Area enterprises with those in Vietnam on January 10 in Hanoi, and a Hong Kong-Ho Chi Minh City investment promotion conference on January 12.

They will also have working sessions with leaders of Vietnamese ministries and localities during their stay.

Vietnamese Consul General in Hong Kong Pham Binh Dam said that Hong Kong is Vietnam's seventh largest trading partner and fifth biggest investor, and the potential for bilateral cooperation remains huge.

He proposed the delegation focus on the financial sector, thereby helping Vietnamese enterprises to raise capital in the Hong Kong financial market, and to access Hong Kong's corporate bond market.

Jonathan Choi said that he decided to organise this large-scale delegation to Hanoi and Ho Chi Minh City, as he believes in the development potential of Vietnam whose GDP growth rate is estimated at around 8 per cent in 2022.

Businesses from Hong Kong (China) have expressed their interest in the Vietnamese gem market during their participation at the ongoing 38th HKTDC Hong Kong International Jewellery Show and 8th HKTDC Hong Kong International Diamond, Gem & Pearl Show.

The ongoing visit by Vietnamse Party General Secretary Nguyen Phu Trong to China further affirms the close relationship between the two Parties, States and peoples, Li Minghan, a scholar from Hong Kong (China) who has spent years studying Vietnam and President Ho Chi Minh, has said.

Vietnam and Hong Kong set the target for a hike in bilateral trade turnover to $50 billion in the next five years, making Vietnam the city's largest trade partner in ASEAN.