Sunwah Group joined the “Revival under the ‘New Normalcy’ Hong Kong – Vietnam Partnership” webinarSunwah Vietnam
(21 September 2021)
Sunwah – On the afternoon of 20th September 2021, Mr Johnson Choi, Executive Director of Sunwah Group, joined the “Revival under the ‘New Normalcy’ Hong Kong – Vietnam Partnership” webinar, jointly organized by the Ministry of Industry and Trade of Vietnam and the Commerce and Economic Development Bureau of Hong Kong.
Distinguished speakers have been invited to give remarks at the webinar, including Mr Edward Yau, the Secretary for Commerce and Economic Development of the Hong Kong SAR Government; Mr Tran Quoc Khanh Deputy Minister, Ministry of Industry and Trade of Vietnam; and Mr Pham Binh Dam Consul General of the S.R. of Vietnam in the Hong Kong SAR as well as leaders from enterprises and business associations in Hong Kong and Vietnam, such as the Federation of Hong Kong Industries (FHKI), Hong Kong Smart City Consortium, the Hong Kong Trade Development Council (HKTDC), the Vietnam Trade Promotion Agency, and Hanoi Trade JS Corporation (HAPRO). There were over 500 representatives of associations and enterprises in Vietnam and Hong Kong from various sectors invluding manufacturing, trade, e-commerce, finance, construction, logistics, etc. joining virtually.
The Panelist Discussion at the “Revival under the ‘New Normalcy’ Hong Kong – Vietnam Partnership” webinar
The webinar was organized with the mission of promoting trade cooperation between Vietnam and Hong Kong as well as supporting enterprises from both sides to connect and explore potential cooperation opportunities during COVID-19 pandemic. The Hong Kong – Vietnam Chamber of Commerce (HKVCC) is the supporting organization of the webinar.
Mr Edward Yau, the Secretary for Commerce and Economic Development of the Hong Kong SAR Government underlined the close trade, economic and cultural relations between Hong Kong and Vietnam. He said that conducting business and trade between the two places had become even easier and more mutually beneficial after the Free Trade Agreement and Investment Agreement between Hong Kong and the Association of Southeast Asian Nations (ASEAN) came fully into force in February 2021. Mr Yau suggested that there was room for even closer business collaboration between Hong Kong and Vietnam in areas such as biotech, medical tech and information and communication technologies when the two places were facing the pandemic.
Mr Edward Yau, Secretary for Commerce and Economic Development of Hong Kong
Mr Tran Quoc Khanh, Deputy Minister of Industry and Trade of Vietnam, highlighted the importance of the Vietnam – Hong Kong economic partnership and Hong Kong’s unique position as the leading finance, trade and logistics centre. In order to provide more support for the business communities in both Vietnam and Hong Kong under the “new nomalcy”, Vietnam has signed several Free Trade Agreements to create more favourable business conditions for Hong Kong enterprises to invest in Vietnam. Notably, Sunwah Group, a diversified conglomerate from Hong Kong, has been achieving significant success in Vietnam. In the coming time, he hoped that the two governments will establish a more comprehensive cooperation mechanism such as signing cooperation agreements between the two sides as well as removing visa restrictions from Hong Kong government to facilitate better trade development between Vietnam and Hong Kong.
Mr Tran Quoc Khanh Deputy Minister, Ministry of Industry and Trade of Vietnam
Speaking at the webinar, Mr Johnson Choi, Executive Director of Sunwah Group, shared that for many years Sunwah Group and the Hong Kong – Vietnam Chamber of Commerce (HKVCC) has actively contributed to the promotion of cooperation between Hong Kong and Vietnam. Throughout the 13 years of its establishment, HKVCC has been promoting cooperation, networking and investment opportunities between the two parties. It has built a forum for exchanges of views between governmental bodies and private sectors of Hong Kong, Mainland China, and Vietnam, as well as identified new opportunities for trade and investment.
Mr Johnson Choi, Executive Director and Vice President of Sunwah Group
Sunwah Group has been doing business in Vietnam for more than 50 years and achieving many great success. Recently, with the support and encouragement from both governments, Sunwah Group has beeing focusing its resources in new sectors, Innovation and High-tech. Sunwah has established the Sunwah Innovation Centers in various locations in Vietnam and Mainland China and the Sunwah International Innovation Platform (SWIIP); at the same time, the Group has built strong connection with many startup-supported organizations to promote the development of the startup ecosystem in Hong Kong and Vietnam. By collaborating with a range of research institutes, Sunwah is also investing in environmental sciences, digitized manufacturing technologies, and biotechnology to better leverage fundamental sciences into innovative, productivity-enhancing technologies for manufacturers in both China and Vietnam. As an international capital market and financial center, Hong Kong can assist companies from the Guangdong – Hong Kong – Macao Greater Bay Area (GBA) to go global, and also help Vietnamese companies to expand business to the GBA.
According to statistics of Vietnamese Customs Department in 2020, import and export value between Vietnam and Hong Kong reached USD 11.6 billion, accounting for 2.1% of Vietnam’s total global import and export. Hong Kong is currently Vietnam’s 7th largest trading partner (after China, the United States, South Korea, Japan, Taiwan, and Thailand). In the first 8 months of 2021, import-export turnover between Vietnam and Hong Kong reached USD 8.4 billion, an increase of 16% over the same period in 2020. Regarding investment, by the end of August 2021, the total investment capital from Hong Kong to Vietnam has reached over USD 27 billion and is constantly increasing in the fields of manufacturing, energy, textiles, footwear and real estate.