(12 April 2024)

Sunwah – On the morning of April 12, 2024, Chairman of the National Assembly Vuong Dinh Hue hosted receptions for leaders of several Chinese corporations in Kunming City, Yunnan Province as part of his official visit to China. Dr. Jonathan Choi, Standing Member of the Chinese People’s Political Consultative Conference, Chairman of the Hong Kong – Vietnam Chamber of Commerce, Chairman of the Guangdong-HK-Macao Bay Area Entrepreneurs Union and Chairman of Sunwah Group (Hong Kong), had a meeting and discussion with National Assembly Chairman Vuong Dinh Hue in Yunnan province on this occasion.

National Assembly Chairman of Vietnam, Vuong Dinh Hue, and Dr. Jonathan Choi, Standing Member of the Chinese People’s Political Consultative Conference, Chairman of the Hong Kong – Vietnam Chamber of Commerce, Chairman of the Guangdong-HK-Macao Bay Area Entrepreneurs Union and Chairman of Sunwah Group (Hong Kong) 

During his address at the forum’s opening, Vice Chairman of the Yunnan Provincial Government, Liu Yong, extended a warm welcome to the delegation led by National Assembly Chairman Vuong Dinh Hue to Yunnan Province. He congratulated the delegation on the successful outcomes achieved during their recent visits to Beijing and Shanghai in China.

Highlighting Yunnan’s strategic geographical position bordering Vietnam, Vice Chairman Liu emphasized its pivotal role as a gateway for exchanges and trade with Vietnam and other Southeast Asian nations. Committed to realizing agreements made by the top leadership of both countries, Yunnan affirmed its dedication to providing optimal conditions and actively supporting business cooperation between Vietnam and China. This commitment aims to further deepen and enhance the comprehensive strategic cooperative partnership between the two nations.

Vice Chairman Liu expressed hope that Vietnam and China would leverage international trade exhibitions, economic dialogue forums, and other exchange activities to bolster economic and trade cooperation and multi-sector investment. Additionally, he underscored the potential for enhanced cultural, educational, and tourism exchanges between Yunnan and Vietnam, given their shared border and cultural similarities.

During the meeting, Dr. Jonathan Choi provided insights into Sunwah Group’s extensive investment and development history in Vietnam. Highlighting the familial ties that bind three generations of the Choi family to Vietnam, he underscored Sunwah Group’s steadfast commitment over the past half-century to fostering cooperation between Vietnam and China across multiple sectors including trade, agriculture, finance, culture, education, and innovation. Dr. Jonathan Choi’s role as Chairman of VinaCapital with diverse investments across Vietnam, was also emphasized. The total investment capital accumulated by Sunwah Group in Vietnam stands at approximately 5 billion USD. Furthermore, Sunwah Group’s dedication to community service in Vietnam was underscored. The Ulis-Jonathan KS Choi Cultural Center, situated within Vietnam National University, Hanoi for the past decade, serves as a hub for collaborative projects promoting education, culture, science, technology, and innovation exchanges between Vietnam, China, and other nations. Additionally, Sunwah Group actively supports the development of youth through initiatives in startup and innovation, exemplified by the establishment and growth of Sunwah Innovation Centers in Hanoi, Ho Chi Minh City, and other global locations.

Dr. Jonathan Choi particularly emphasized that, supported by the proactive efforts of Chinese and Vietnamese leadership, the cooperative ties between the two nations have embarked upon a new, more inclusive phase, brimming with unprecedented opportunities. This shift, he noted, opens myriad avenues for collaboration, presenting promising prospects for investors and enterprises on both sides. Sunwah Group, in line with this vision, is intensifying its investment endeavors and concentrating on the development of industrial parks in Vietnam. Presently, the Group is prioritizing exploration of investment prospects in Dong Nai province and surrounding areas of Hanoi. Additionally, at the border crossings of Yunnan and Vietnam, Sunwah Group is strategizing the establishment of industrial parks to foster collaboration and interaction in industry, agriculture, culture, and tourism between the two nations. Building upon the Strategic Cooperation Agreement inked between Sunwah Group and Honghe Zhou, Yunnan Province, as well as the Memorandum of Understanding signed with the Department of Industry and Trade of Lao Cai province earlier in 2024, Sunwah Group is poised to invest in the construction and operation of an industrial park in Lao Cai province. Initially spanning approximately 100 hectares, this industrial park will undergo gradual expansion in accordance with evolving development dynamics. Through this venture, coupled with its extensive network of connections, Sunwah aims to actively contribute to bolstering the export of Vietnamese agricultural products to the Chinese market, leveraging both e-commerce channels and traditional avenues.

Chairman of the National Assembly of the Socialist Republic of Vietnam, Vuong Dinh Hue, presents a souvenir to Dr. Jonathan Choi

National Assembly Chairman Vuong Dinh Hue extended gratitude for Chairman Jonathan Choi and Sunwah Group’s enduring contributions spanning five decades in Vietnam. He underscored Yunnan’s strategic significance as the gateway to Southeast Asia, emphasizing the pivotal role of Sunwah Group’s industrial park development along the Yunnan-Lao Cai border. This initiative not only propels Lao Cai’s economic advancement but also catalyzes growth in Vietnam’s northern provinces. Currently, the Vietnamese Government is actively advocating for the construction of the Lao Cai-Hanoi-Hai Phong standard gauge railway and seeks to pass a railway investment proposal in the National Assembly this year. Additionally, Vietnam is pushing for the construction of cross-border highway bridges in Bat Xat, Lao Cai. The enhancement of these infrastructural projects is poised to bolster cooperation between China and Vietnam, as well as between Yunnan and Lao Cai. Chairman Vuong Dinh Hue expressed hope that Sunwah Group would seize these opportunities and actively participate in the development initiatives mentioned above.

National Assembly Chairman Vuong Dinh Hue also voiced his hope that, buoyed by the influence of Chairman Jonathan Choi and Sunwah Group’s multi-industry development and resource autonomy, Sunwah could fortify its ties with international experts and businesses. He envisioned the establishment of a trilateral cooperation model aimed at transferring high technology to Vietnam. Furthermore, he extended heartfelt congratulations to Sunwah Group under the astute leadership and visionary guidance of Dr. Jonathan Choi. He lauded the Group’s continued outstanding growth and anticipated numerous new achievements in advancing multi-sectoral cooperation between Vietnam and China, with a particular focus on border provinces.

On the same day, National Assembly Chairman Vuong Dinh Hue and a distinguished delegation participated in the “Forum on Policies and Laws Fostering Investment and Trade Cooperation between Vietnam and China.” The forum was co-chaired by the Vietnam Planning and Investment Ministry, and the Yunnan International Trade Promotion Commission. Among the Vietnamese attendees were Bui Thi Minh Hoai, Head of the Central Mass Mobilization Commission; Lieutenant General Tran Quang Phuong, Vice Chairman of the National Assembly; Deputy Prime Minister Tran Luu Quang; Bui Van Cuong, General Secretary of the National Assembly and Chairman of the National Assembly Office, alongside other members of the Vietnamese High-level Delegation. Representing China were Hu Xiaoli, Deputy Secretary General of China’s National People’s Congress; Wang Shufen, vice-chairwoman of the Standing Committee of the Yunnan Provincial People’s Congress; Liu Yong, Vice Chairman of Yunnan Provincial Government, and officials from the Yunnan International Trade Promotion Committee, as well as representatives from various local departments of Yunnan province. Moreover, the forum saw the participation of over 400 business delegates from both Vietnam and China, making it a significant platform for fostering investment and trade cooperation between the two nations.

Vice Chairman of the Yunnan Provincial Government, Liu Yong, delivered the opening speech at the “Forum on Policies and Laws Fostering Investment and Trade Cooperation between Vietnam and China“ held in Yunnan Province, China.

During his address at the forum’s opening, Vice Chairman of the Yunnan Provincial Government, Liu Yong, extended a warm welcome to the delegation led by National Assembly Chairman Vuong Dinh Hue to Yunnan Province. He congratulated the delegation on the successful outcomes achieved during their recent visits to Beijing and Shanghai in China.

Highlighting Yunnan’s strategic geographical position bordering Vietnam, Vice Chairman Liu emphasized its pivotal role as a gateway for exchanges and trade with Vietnam and other Southeast Asian nations. Committed to realizing agreements made by the top leadership of both countries, Yunnan affirmed its dedication to providing optimal conditions and actively supporting business cooperation between Vietnam and China. This commitment aims to further deepen and enhance the comprehensive strategic cooperative partnership between the two nations.

Vice Chairman Liu expressed hope that Vietnam and China would leverage international trade exhibitions, economic dialogue forums, and other exchange activities to bolster economic and trade cooperation and multi-sector investment. Additionally, he underscored the potential for enhanced cultural, educational, and tourism exchanges between Yunnan and Vietnam, given their shared border and cultural similarities.

National Assembly Chairman Vuong Dinh Hue addressed at the Forum

Chairman of the National Assembly Vuong Dinh Hue, in his speech, expressed his delight at participating in the “Forum on Policies and Laws Fostering Investment and Trade Cooperation between Vietnam and China“, a significant event during the official visit to China by the high-level delegation of Vietnam. He also expressed satisfaction in observing the continued robust development of neighborly relations, friendship, and comprehensive cooperation between Vietnam and China. This progress has seen notable advancements, particularly in economic cooperation, trade, and investment, which have deepened substantially, serving as a bright spot in the bilateral relationship. Notably, the total bilateral import-export turnover in 2023 saw positive growth, surpassing $170 billion USD. China remains Vietnam’s largest trading partner and import market, while Vietnam stands as China’s fourth-largest trading partner globally and the largest within the ASEAN region.

Chairman of the National Assembly remarked that economic, trade, and investment collaboration between Vietnam and China possesses significant potential for further development. He emphasized that businesses from both nations benefit from a comprehensive legal framework and conducive conditions for fostering trade connections and cooperation. These businesses have the opportunity to emerge as vital components within regional and global supply chains. The Chairman proposed several directions to unlock the full potential and strengths of both sides, aiming to elevate economic, trade, and investment cooperation into the cornerstone of bilateral collaboration between the two countries. In particular, the Chairman proposed expediting the agreement on a plan to link the railway section between Lao Cai station (Vietnam) and Hekou Bac station (Yunnan, China), aiming to enhance the convenience of trade exchanges between the two parties.

At the Forum, leaders from various ministries, sectors, local administrations, and enterprises on both sides engaged in discussions, sharing insights on socio-economic development policies and strategic orientations aimed at attracting investment and fostering significant cooperation between Vietnam and China.