Hong Kong – Ho Chi Minh City Investment & Business Forum and Networking Dinner
(12 January 2023)
On 12 January 2023, 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.
The Business Forum and Networking Dinner in Ho Chi Minh City is part of a business trip to Vietnam from 8 to 14 January 2023 by the Hong Kong delegation of more than 60 entrepreneurs and high-level representatives from various sectors including financial services, manufacturing, real estate, education and training, and many more. Sunwah Group, with more than 50 years doing business in Vietnam, is the coordinator and main sponsor for the delegation’s activities in Hanoi and Ho Chi Minh City. The Investment & Trade Promotion Centre of Ho Chi Minh City (ITPC), the Young Business Association Ho Chi Minh City (YBA) and IBP Vietnam are supporting organizations for the Ho Chi Minh City activities.
In his welcoming remarks, Mr Vo Van Hoan, Vice Chairman of the Ho Chi Minh City People’s Committee, shared that the cooperation relationship between Ho Chi Minh City and Hong Kong continues to make significant progress in many fields, especially in economy, commerce, investment, and tourism.
Mr. Vo Van Hoan, Vice Chairman of Ho Chi Minh City People’s Committee, speaking at the opening of the Conference
Amid the unpredictable COVID-19 situation, bilateral trade between Hong Kong anđ Vietnam still maintained a good growth momentum in 2022. Currently, Hong Kong is one of the major trading partners of Ho Chi Minh City, ranking 8th out of 117 countries and territories with direct investment in this city.
Dr Jonathan Choi, Chairman of CGCC, GBA Union, HKVCC and Sunwah Group, noted in his opening remarks: “Being a citizen of Hong Kong, I have always regarded Vietnam as my second home. Sunwah Group has been operating in Vietnam since the 1970s and our Vietnam Headquarters is in Ho Chi Minh City, the most dynamic and vibrant city in Vietnam. I am delighted to be the connector between Hong Kong and Ho Chi Minh City in particular, and Vietnam in general, as well as to bring mutual benefits to the two beloved homes of my family. I was in Ho Chi Minh City in July last year to host a Vietnam and Hong Kong Partnership event. It was my first visit after three years of the pandemic. This time I am delighted to lead a business delegation of more than 60 business leaders and industry experts of different sectors from Hong Kong to Vietnam to explore partnership and collaboration. Some of the delegates have been investing in Vietnam, some have not, but they all share the same interest in exploring more investment opportunities in Vietnam. For those who have not visited Vietnam before, I am sure they are all impressed with the charm and abundant opportunities of this country. “
Dr. Jonathan Choi, Chairman of Chinese General Chamber of Commerce, Chairman of Hong Kong – Vietnam Chamber of Commerce, Chairman of GBA Entrepreneurs Union, and Chairman of Sunwah Group, speaking at the opening of the Conference
To give an overall picture of the investment environment and opportunities in Ho Chi Minh City, Ms Cao Thi Phi Van, Vice Director of Investment and Trade Promotion Centre, shared, “Ho Chi Minh City is a special city with optimal strategic location, with an area of more than 2,000 square kilometres, a population of more than 10 million people, and many factors that attract international investors. Ho Chi Minh City is also a metropolis, the growth pole of the Southeast region (including Ho Chi Minh City and 6 provinces), fully equipped with a modern logistics network of roads, railways, waterways, and air traffics, creating favourable conditions for the city to better connect in the regional and international corridors. Ho Chi Minh City is also the city with the largest economic scale in the country, which is nearly 60 billion USD. Besides, this is also where many qualified and high-quality human resources come to accommodate, study, and research, all of which are eligible to support the City to become one of the largest technology production and service centres in Vietnam”. Ms Van also emphasised that investors coming to Ho Chi Minh City will not only have the opportunity to access a large number of customers consuming manufactured products but also receive a commitment to accompany foreign investors during their investment and business here from the City Government.”
More than 300 participants attended the Conference
The Panel discussion titled “Foster investment cooperation between Hong Kong and Ho Chi Minh City” was also successfully held with sharings from experts and professionals in real estate, financial services, and innovation for smart city from Hong Kong and Vietnam.
Vietnam and Hong Kong (China) have enjoyed fruitful trade and investment partnerships despite the impacts of the COVID-19 pandemic. According to the latest report of Vietnam General Statistics Office, as of October 2022, Hong Kong was the fifth largest investor in Vietnam after Korea, Japan, Singapore, Taiwan (China) with 2,133 projects and 28.9 billion US dollars of total investment capital registered. The main industries that Hong Kong has invested in Vietnam include processing, manufacturing, apparel, services, real estate, hotels and restaurants, and construction. Ho Chi Minh City is Vietnam’s most dynamic metropolitan area and the centre of economy, culture, science, and technology; an intersection where different cultures cross; and a strategic political point of the country. The city is praised for its diversified demographic background and export-driven economy, making it an attractive destination for FDI and for Hong Kong investors looking to diversify their production and expand their business to Vietnam.
Representatives of the Organizing Board with Honorary guests and speakers at the Conference
Earlier, the Vietnam – Hong Kong – Greater Bay Area Partnership Business Forum and Networking Luncheon was successfully organized in Hanoi on 10 January 2023. The success of both Business Forums in Hanoi and Ho Chi Minh City with the participation of many large associations and enterprises promise to bring in more bilateral cooperation between Vietnam and Hong Kong in the post-Covid 19 era.