Hong Kong business delegation’s visit to Vietnam
(16 January 2023)
Sunwah – Economic, trade and investment cooperation between Vietnam and Hong Kong is progressively developing despite the impact of COVID-19. Hong Kong is also an important gateway for companies from mainland China to invest in Vietnam. As Chairman of Hong Kong Chinese General Chamber of Commerce (CGCC), Chairman of Hong Kong – Vietnam Chamber of Commerce, Chairman of Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Union and Chairman of Sunwah Group, Dr Jonathan Choi constantly strive to promote economic exchanges and cooperation between Vietnam and Hong Kong, as well as the Greater Bay Area and Mainland China in general.
From 8 to 14 January 2023, Dr Jonathan Choi led a delegation of more than 70 business leaders from Hong Kong to have a business trip to Hanoi and Ho Chi Minh City to seek investment and cooperation opportunities in Vietnam. Mr Algernon Yau, Secretary for Commerce and Economic Development of Hong Kong SAR Government, and Mr Pham Binh Dam, Consul General of Vietnam in Hong Kong are Honorary Advisers of the delegation.
The delegation started their visit in Hanoi on January 9, 2023, with the round table meeting at the Headquarters of the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi. About 140 Hong Kong and Vietnam business leaders gathered to discuss cooperation opportunities. Dr Jonathan Choi, Mr Algernon Yau, Mr Pham Binh Dam and Mr Nguyen Quang Vinh, Vice President of VCCI attended the meeting. The two sides were fully committed to promoting in-depth cooperation between ASEAN and the Guangdong-Hong Kong-Macao Greater Bay Area.
From left to right: Dr Jonathan Choi, leader of the Hong Kong business delegation; Mr Nguyen Quang Vinh, Vice President of VCCI; and Mr Algernon Yau, Secretary for Commerce and Economic Development of Hong Kong SAR Government
Dr. Jonathan Choi said that Hong Kong is an international financial center, and he hopes that this visit can further promote the Hong Kong Stock Exchange, attract Vietnamese companies to list in Hong Kong, and make good use of Hong Kong’s financial services. In addition, Hong Kong is also a technological innovation center, and it is hoped that the two sides will strengthen cooperation in research and development, exchanges, and technological investment.
Secretary Algernon Yau said, Hong Kong is an international trade center and a regional intellectual property trading center, and has also made great progress in innovation and technology. In terms of Vietnam’s overall trade, Hong Kong can introduce some professionals to increase bilateral mutually beneficial and mutually beneficial arrangements. He hopes that through this visit, the Hong Kong Chamber of Commerce can learn more about the actual situation in Vietnam, and take this opportunity to tell the story of Hong Kong to Vietnam, promote mutual cooperation between the people, and enhance exchanges in business and culture.
On the same day, 9 Jan 2023, Dr. Jonathan Choi and Secretary Algernon Yau led the Hong Kong Business Delegation to meet with Mr Nguyen Quoc Khanh, Deputy Minister of Industry and Trade of Vietnam. At the meeting, Deputy Minister Nguyen emphasised Hong Kong as the important trade partner of Vietnam and the Ministry would actively serve as a bridge for communication between Vietnam and Hong Kong, solving difficulties and creating cooperation opportunities for economic and trade cooperation between enterprises. Dr Choi said that Hong Kong and Vietnam are long-term cooperative partners, and Hong Kong’s investment in Vietnam will be more diversified in the future. The purpose of leading a delegation to visit Vietnam this time is to seek new opportunities for business cooperation between the two places. Chairman Tsai encouraged Vietnamese youths to study, work and seek opportunities in Hong Kong. At the same time, he also welcomed the young generation from Hong Kong to come to Vietnam to work, and start businesses in Vietnam.
From left to right: Mr Algernon Yau; Mr Nguyen Quoc Khanh, Deputy Minister of Industry and Trade of Vietnam; and Dr Jonathan Choi
On 10 January 2023, the “Vietnam and Hong Kong – Guangdong – Macau (China) Partnership Business Forum and Networking Luncheon”, co-organized by the Hong Kong – Vietnam Chamber of Commerce (HKVCC) co-organized, the Hong Kong Chinese General Chamber of Commerce (CGCC), the Guangdong – Hong Kong – Macau Bay Area Entrepreneurs Union (GBA Union), the Foreign Investment Agency under Vietnam Ministry of Planning and Investment (FIA), and the Hong Kong Economic and Trade Office in Singapore (HKETO) was successfully held in Hanoi. Sunwah Vietnam (under Sunwah Group, Hong Kong) and Goldstone Capital are the event sponsors while the Vietnam Chamber of Commerce and Industry is the supporting organization.
The Business Forum and Luncheon aimed to strengthen the business cooperation between Vietnam and the Hong Kong – Guangdong – Macau area. Apart from introducing recent developments of Hong Kong, the event also focuses on promoting business opportunities in Vietnam to Hong Kong enterprises by sharing the recent investment policies and incentives of Vietnam, especially in manufacturing, real estate, commerce, services, infrastructure development and regional economy, etc. During the event, the MOU signing ceremony on Hong Kong-Vietnam investment cooperation between the Foreign Investment Agency and HKVCC, with other two business chambers was successfully held.
Following up is the Panel discussion titled “Vietnam and Hong Kong – Guangdong – Macau Partnership: New Opportunities for Hong Kong investors in the New Era” with fruitful exchanges of guest speakers who are the top experts and professionals in finance, investment and trade sectors from Hong Kong – Guangdong – Macau and Vietnam. In-depth exchanges related to manufacturing industry infrastructure; commercial and services opportunities have also been recognized, contributing an important role in promoting economy, trade and investment between Vietnam and China, which includes the Hong Kong – Guangdong – Macau area. Mr Jacky Foo, Director of Hong Kong – Vietnam Chamber of Commerce and Board member of TAL Apparel, and Mr Anthony Lam, member of Hong Kong – Vietnam Chamber of Commerce and Managing Director of Golden Resources Development Limited, joined this panel discussion as Panellists. Mr. Do Nhat Hoang pledged that, together with the joint efforts of the two sides, the Ministry of Planning and Investment would continue to advise on breakthroughs in reforming the investment environment, innovating the business support strategies, as well as creating most favorable conditions for foreign investors, including Hong Kong to invest and operate effectively in Vietnam.
In the afternoon of 10 January 2023, Dr Jonathan Choi and Secretary Algernon Yau together with 70 business leaders paid a visit to the Ministry of Planning and Investment and met with Mr Nguyen Chi Dung, Minister of Planning and Investment of Vietnam. Minister Nguyen spoke highly of the strong advantages of Hong Kong’s economic development and hoped that Hong Kong could share this experience with Vietnam. At the same time, Vietnam welcomes entrepreneurs from mainland China and Hong Kong to invest in Vietnam, and Vietnam will continue to create a good business environment for foreign investors. In April this year, the population of Vietnam is expected to exceed the 100 million mark. There is a huge market and a sufficient labor force here. In line with the digital transformation and upgrading of the economic development model, it is hoped that Hong Kong entrepreneurs can find new business opportunities in Vietnam.
Dr Jonathan Choi and Mr Nguyen Chi Dung, Minister of Planning and Investment of Vietnam
The delegation visited Ministry of Planning and Investment of Vietnam
Afterward, the whole delegation had a meeting with Professor Huynh Thanh Dat, Minister of Science and Technology of Vietnam. At the meeting, Dr Choi shared that, Innovation in the field of science and technology is an important indicator of the country’s future development. During this visit with the delegation, he noticed that Vietnam has prioritized some scientific and technological fields, such as digital economy and smart city, and these fields are also the research strengths of Hong Kong. There is a solid foundation for mutual learning and cooperation, which can be expanded to broader fields.
The delegation visited Ministry of Science and Technology of Vietnam
Minister Huynh expressed his gratitude to Dr Choi for leading the delegation, especially for bringing many entrepreneurs in the field of science and technology and representatives of the Hong Kong University of Science and Technology. He emphasized that from 2020 to 2030, Vietnam will change its economic development model, and innovation and technology will be the top priority. The government also provides resources and opportunities for young people to devote themselves to science and technology. Both sides looked forward to a lot of cooperation between Vietnam and Hong Kong in this regard.
Professor Huynh Thanh Dat, Minister of Science and Technology of Vietnam, and Dr Jonathan Choi
On 11 January, the Hong Kong delegation arrived in Ho Chi Minh City and visited the Saigon High-Tech Park (SHTP). Welcoming the delegation was Mr. Nguyen Anh Thi, Head of the Management Board. He shared about achievements of SHTP over the years as well as introducing projects that are calling for investment in the Park.
Mr Nguyen Anh Thi, Head of the Management Board of Saigon High-Tech Park, and Dr Jonathan Choi
The delegation visited Saigon High-Tech Park
In the afternoon of the same day, the delegation also visited the headquarters of Mobile World Company, the leading retailer of consumer electronic products in Vietnam. The delegation had an in-depth discussion with Mr Nguyen Duc Tai, Chairman of the Mobile World Company, about the potential and challenges in the retail sector in Vietnam and the region.
The delegation visited Mobile World Company
On the morning of 12 January 2023, Chairman of the Ho Chi Minh City People’s Committee Mr Phan Van Mai received the delegation at the City Office. Mr Phan Van Mai affirmed that the City always welcomes and creates favourable business conditions for Hong Kong investors to invest and do business in the city. He also hoped that more Hong Kong investors will come and more projects to be implemented in Ho Chi Minh City.
The delegation visited and had a discussion with Ho Chi Minh City People’s Committee
In the afternoon of the same day, the Hong Kong delegation visited the Consulate General of China in Ho Chi Minh City. The Consul General Mr Wei Huaxing received the delegation and shared about the long-term friendship between Vietnam and China. He also briefed about the support from the Chinese Embassy and Consulate Generals in various cities of Vietnam for Hong Kong enterprises that are planing to expand their businesses to Vietnam.
The delegation visited the Consulate General of China in Ho Chi Minh City
On the evening of 12 January, the Hong Kong – Ho Chi Minh City Investment & Business Forum and Networking Dinner, an international forum co-organized by the Chinese General Chamber of Commerce (CGCC), the Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Union (GBA Union), the Hong Kong – Vietnam Chamber of Commerce (HKVCC) and the Investment & Trade Promotion Centre of Ho Chi Minh City (ITPC), was successfully held in Ho Chi Minh City, Vietnam. Attendees of the event were Mr Pham Binh Dam, Consul General of Vietnam in Hong Kong and Macao (China); Consul Generals of China, Japan, Malaysia, Thailand and Cambodia; Mr Vo Van Hoan, Vice Chairman of Ho Chi Minh City People’s Committee, senior officials of Ho Chi Minh City departments and central government; together with over 300 participants, including senior government officials, leaders from Vietnamese universities and various trade associations, as well as high-level representatives from leading local and international companies. The event aimed to strengthen the investment and cooperation ties between Hong Kong and Vietnam in general and Ho Chi Minh City in particular.
On the morning of 13 January 2023, the delegation visited CMC Data Center Tan Thuan, the most modern and largest data center in Vietnam. The delegation was received by Mr Dang Tung Son, Deputy CEO and CMO of CMC Telecom Group; and Mr Dinh Tuan Trung, Director of CMC Telecom South Vietnam. The delegation was very impressed with CMC Telecom’s achievements and the designs and operations of CMC Data Center. Both sides agreed to keep in touch for potential cooperation.
The delegation visited CMC Data Center Tan Thuan
On the afternoon of 13 January 2023, and attended the sharing sessions with representatives of VinaCapital, the largest foreign investment fund in Vietnam, at Sun Wah Tower. VinaCapital’s representative introduced the business environment in Vietnam and the great potential of this country.
The delegation visited the Sunwah Innovation Center Ho Chi Minh City
The delegation attended the sharing sessions with representatives of VinaCapital
On 14 January 2023, the business trip in Ho Chi Minh City ended and the delegation went back to Hong Kong. The delegation was very impressed with the socio-economic achievements as well as the investment and business potential in Vietnam and affirmed that they plan to expand their business and return to Vietnam in the near future.