Explore cooperation opportunities between Vietnam – Hong Kong businesses
(3 August 2022)
VCCI – Vietnam and Hong Kong (China) enterprises are facing many cooperation opportunities in the new normalcy.
The bilateral trading relationship between Hong Kong and Vietnam has developed steadily over the years. Assessing the cooperation potential, Dr Jonathan Choi, Chairman of Sunwah Group, Chairman of the Hong Kong – Vietnam Chamber of Commerce and Chairman of the Guangdong – Hong Kong – Macau Bay Area Entrepreneurs Union (GBA), noted that with an area of 56,000 km2 and a population of approximately 86 million people, this is a dynamic and potential market in Asia for Vietnamese businesses.
Dr Choi also shared that over the years, Sunwah Group has implemented many important projects in Vietnam. Therefore, he expressed his wish that the Vietnam Chamber of Commerce and Industry (VCCI) will continue to coordinate and support activities for Sunwah Group and Hong Kong businesses in general in order to expand cooperation to fields such as financial services, high technology, etc.
Dr Jonathan Choi and Sunwah Group delegation (left) met with VCCI Chairman Pham Tan Cong and representatives (right)
Agreeing with Dr Jonathan Choi, Chairman of VCCI Pham Tan Cong, confirmed that Hong Kong and Vietnam have built a strong bilateral trade relationship. Notably, Hong Kong is known as one of the most vibrant commercial and financial centers in Asia and globally. The Chairman of VCCI also expressed his appreciation for Sunwah Group for donating medical supplies and financial support to Vietnam during the recent COVID-19 pandemic.
According to Chairman Pham Tan Cong, VCCI is currently promoting the initiative of economic connection among four provinces including Hung Yen, Hai Duong, Hai Phong and Quang Ninh along the Hanoi – Mong Cai expressway, forming a new economic zone with a favorable business environment, high economic growth and a thriving business community, creating a growth focal point in the Red River Delta and the Northern region.
With the potential opportunities from the economic region, the VCCI Chairman suggested that the two parties to develop cooperation and investment promotion programs in this area to generate more opportunities for Hong Kong businesses, especially in high-value fields such as trade, finance, logistics, technology and innovation. On the other hand, Hong Kong enterprises can utilize Vietnam’s advantages which are various Free Trade Agreement and the market of 100 million people.
Dr Jonathan Choi (left) and VCCI Chairman Pham Tan Cong (right)
According to the Hong Kong Economic and Trade Office, Hong Kong and Vietnam has maintained good trading partnership for many years. In 2021, Vietnam is Hong Kong’s 7th largest trading partner. Bilateral trade between the two sides reached 220.9 billion Hong Kong dollars (658 trillion Vietnam dong). From 2017 to 2021, the average annual growth rate reached 11.8%.
From left to right: Mr Jesse Choi (fourth), Director of Sunwah Southeast Asia and Sunwah Vietnam; VCCI Chairman Pham Tan Cong (sixth); and Dr Jonathan Choi (seventh)
Sunwah Group is a Hong Kong-based business and has been operating in Vietnam for over 50 years. The Group’s business sectors in Vietnam include Seafood, Real Estate, Financial Services, Agricultural Products and Dry Food, Coffee. Since 2018, Sunwah Group has organized activities to promote entrepreneurship among Vietnamese youth, contributing to the development of Vietnam’s startup ecosystem.
Translated from: VCCI News
