(12 January 2024)

Sunwah – On the evening of January 12, the Launching Ceremony of Three Country Chapters in ASEAN of the Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Alliance took place in Ho Chi Minh City. The event was chaired by Dr. Jonathan Choi, Chairman of the Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Alliance, Chairman of the Hong Kong – Vietnam Chamber of Commerce and Chairman of Sunwah Group (Hong Kong). Guests attending the event included Mr Nguyen Van Loi, Member of the Party Central Committee, Secretary of the Binh Duong Provincial Party Committee, and Head of the Binh Duong Provincial National Assembly Delegation. The event also attracted the participation of more than 300 guests who are senior leaders and experts from various business associations, investment funds and large enterprises in Vietnam as well as the Guangdong – Hong Kong – Macao Greater Bay Area (“GBA”), to promote international economic exchange and cooperation between GBA and Vietnam.

Speaking at the opening of the event, Dr. Jonathan Choi introduced: “The Guangdong – Hong Kong – Macao Bay Area (GBA for short) stands as a beacon of strategic development at the national level in China, representing a commitment to regional integration and coordinated development. With a staggering population of 86 million and a regional GDP of 1,943 billion USD in 2022, this vast market is five times the GDP of Hong Kong, contributing over 10% to the nation’s overall GDP. The Greater Bay Area not only ranks among the fastest-growing regions in China but also boasts capabilities comparable to developed countries worldwide.”

Dr. Jonathan Choi, Chairman of the Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Alliance, Chairman of the Hong Kong – Vietnam Chamber of Commerce and Chairman of Sunwah Group 

He also shared that Vietnam, with its strategic geographical location, has always been an attractive destination for Chinese investors in recent years. ASEAN has long been China’s largest trading partner. In 2022, trade between the GBA and ASEAN reached 1.4 trillion USD, an increase of 11.8% over the same period last year and accounting for 22.6% of the GBA’s total international trade turnover. Furthermore, direct investment from the GBA into ASEAN soared to $17.9 billion, up 13.1% year-on-year. This is a very brilliant achievement in the context of global economic recession. Therefore, Dr Choi also expressed that the launching of 3 chapters of the Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Alliance in 3 Southeast Asian countries, including Hanoi and Ho Chi Minh City, not only represents an important milestone for friendship and partnership between GBA and ASEAN, but also contributes even more to common prosperity and progress.

Dr Jonathan Choi

On this occasion, Mr. Wei Huaxiang, the Consul General of the People’s Republic of China in Ho Chi Minh City, also delivered his video speech, conveying his best wishes for the Event. The Consul General highly appreciated the positive contributions of the Guangdong-Hong Kong-Macao Bay Area Entrepreneur Alliance under the leadership of Dr. Jonathan Choi over the past years. At the same time, he expressed hope that the GBA Alliance will continue to play a crucial role as a significant bridge to promote practical and effective cooperation between the two sides.

Mr. Wei Huaxiang, the Consul General of the People’s Republic of China in Ho Chi Minh City

In addition, Hong Kong’s strength lies in being one of the GBA’s essential cities, along with the significant policies that Hong Kong is implementing to promote economic, trade, tourism, financial cooperation, and talent attraction between Hong Kong and the Southeast Asian region, particularly Vietnam. Mr Owin Fung, Director of the Hong Kong Economic and Trade Office in Singapore, stated that after fully recovering from the pandemic, Hong Kong is now open and reconnecting with the global business community. The foundation for Hong Kong’s continuous vibrancy is the advantage of the “One Country, Two Systems” policy, which ensures Hong Kong’s enduring status as an international trade, shipping, and financial centre and a crucial gateway for investment, trade, tourism, talent development, and various other sectors between Mainland China and other countries worldwide. He also introduced Hong Kong as the best platform in Asia for businesses to raise capital, as they can access both Mainland and international capital in one location.

Mr Owin Fung, Director of the Hong Kong Economic and Trade Office in Singapore

On behalf of Ho Chi Minh City, Ms Cao Thi Phi Van, Deputy Director of the Ho Chi Minh City Investment and Trade Promotion Centre, introduced that “Ho Chi Minh City is a special municipality, a significant centre for economy, culture, science, and technology, and a crucial gateway for trade with countries in the region and the world. In 2023, Ho Chi Minh City became the leading locality in the country in attracting foreign investment, with a total registered investment capital of over USD 5.85 billion. Currently, there are 122 countries and territories investing in the city, with a total investment capital of over USD 85.7 billion. Guangdong and Hong Kong are significant investment communities in the city.”

Ms Cao Thi Phi Van, Deputy Director of the Ho Chi Minh City Investment and Trade Promotion Centre

According to Ms Cao Thi Phi Van, Ho Chi Minh City’s investment attraction orientation in 2024 is innovation, green and sustainable development, carbon neutrality, and aiming for net-zero emissions by 2050. “Therefore, we need clean energy, green transportation, green resources, green production… These are the areas in which we hope you will pay attention and invest in the city. Besides, we wish to cooperate with you to promote trade between localities,” said Ms Van.

As the Executive Vice Chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance and CEO of Sunwah Group ASEAN, Mr Jesse Choi expressed his affection for Vietnam: “Vietnam is like my second home and also a strategic market for future development, acting as a springboard to expand our presence across Southeast Asia. The branches of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance in four Southeast Asian regions and countries will play a vital role in supporting Greater Bay Area enterprises to expand and strengthen their presence in Southeast Asia, especially Vietnam, while also bringing more information about the Greater Bay Area to local businesses.”

Mr Jesse Choi, Executive Vice Chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance and CEO of Sunwah Group ASEAN

Within the framework of the event, the Launching Ceremony of Three Country Chapters in ASEAN of the GBA Entrepreneurs Alliance was successfully conducted in the presence of leaders and invited experts. These chapters will play a crucial role as significant bridges, bringing businesses and local authorities in Southeast Asia, particularly in Vietnam, Cambodia, and Malaysia, closer to GBA enterprises.

Dr Jonathan Choi and representatives of three Chapters

Also within the framework of the ceremony, the Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Alliance respectively signed Memorandums of Understanding with the Ho Chi Minh City Young Business People Association, Hong Kong Business Association Vietnam, Canton Business Association Vietnam, China Business Association Ho Chi Minh branch and the Malaysia Business Chamber Vietnam, to strengthen partnership relations, promoting member businesses to exchange and seek business cooperation opportunities in the GBA and Vietnam.

The guests attending the ceremony also witnessed the signing of a Memorandum of Understanding and a Framework Agreement on Cooperation signed respectively by Sunwah Group led by Mr. Jesse Choi, Regional Director of Sunwah Group (ASEAN), with partners in Vietnam, including: KinhBac City Development Holding Corporation and NaFoods Group. The content of the agreements revolves around the two sides agreeing to implement and support each other on cooperation in a number of key areas such as energy, trade, industrial and urban real estate in Vietnam.

Mr. Jesse Choi and Ms. Nguyen Thi Thu Huong, President of KINHBAC City Development Corporation

Mr. Jesse Choi and Mr. Nguyen Manh Hung, Chairman and CEO of Nafoods Group

It is known that the Guangdong – Hong Kong – Macao Bay Area Entrepreneurs Alliance was established in 2017 by leaders of industry and commerce in 9+2 cities in Guangdong, Hong Kong and Macao. The Alliance’s presidium members are representatives of outstanding businesses from major chambers of commerce in Guangdong, Hong Kong and Macao, the Federation of Hong Kong Industries and leaders of Chinese Chambers of Commerce in many countries. Members of the Alliance’s presidium include leaders from famous businesses such as Tencent, Amer International Group, Huaxun Fangzhou, as well as other businesses in the ASEAN region, Japan, Korea, the United Kingdom, Australia, Canada, etc. This event of launching 4 chapters in 3 Southeast Asian countries of the Alliance is one of the important milestones, demonstrating the commitment to efforts to promote multi-disciplinary development cooperation in the region, as well as creating a premise for implementing upcoming practical cooperation projects between the parties.