(30^th March 2018)

Sunwah – The GMS Business Summit was held in Hanoi on 30^th March 2018, to boost open trade and build a multilateral trade system in the region.

At the Summit, participating businesses had the opportunities to talk with government agencies of GMS countries about benefits, opportunities and challenges from globalization and cross-border trade, which are important to the development of all GMS countries.

The highlight of the Summit was the panel discussion focusing on the necessity for GMS countries to be up to speed with the latest developments and continue to take full advantage of the opportunities for economic development through multilateral trade. The panelists of the discussion were comprised of representatives of relevant government agencies of GMS countries as well as top GMS and international businesses,  in which Dr Jonathan Choi, Chairman of Sunwah Group and Chairman of the Hong Kong – Vietnam Chamber of Commerce, was one of the key participants.

Dr Jonathan Choi (second from left), Chairman of Sunwah Group and Chairman of the Hong Kong – Vietnam Chamber of Commerce, at the GMS Business Summit, organized in Hanoi on 30^th March 2018

During the panel discussion, Dr Jonathan Choi shared his views on Vietnam’s growing economy and its enormous potentials for investment by demonstrating the successes of Sunwah Group’s business over 50 years in Vietnam. Furthermore, he underlined opportunities for the GMS to forge economic cooperation with China and Hong Kong through not only economic corridors but also the free trade agreements (FTA) including ASEAN – China FTA and the recently signed ASEAN – Hong Kong FTA in particular.

Dr Jonathan Choi and other panelists emphasized on new development trends in the global economy that have impacts on GMS countries. These impacts require adjustments of policies in each GMS country and enhancement of cooperation among these countries such as building the ASEAN Economic Community, developing e-commerce, shifting to digital economy as well as leveraging on opportunities from FTAs and the fourth industrial revolution.

The panelists also pointed out challenges posed to GMS countries such as the limited number of cross-border trade projects; weak transportation and logistics connectivity among GMS countries and many more.

In an interview with Phoenix TV (Hong Kong) at the Summit, Dr Jonathan Choi suggested GMS governments  to continue promoting open trade and build a multilateral trade system as well as develop transport infrastructure and logistics to facilitate economic – trade cooperation among GMS countries. They also need to increase support for businesses, especially for micro, small and medium enterprises, to take part in regional and global value chains, he added.

Dr Jonathan Choi (right) in the interview with Phoenix TV (Hong Kong)