(10 January 2023)

Sunwah – On 10 January 2023, the Vietnam and Hong Kong – Guangdong – Macau (China) Partnership Business Forum and Networking Luncheon, an international event co-organized by the Hong Kong Chinese General Chamber of Commerce (CGCC), the Guangdong – Hong Kong –  Macau Bay Area Entrepreneurs Union (GBA Union), the Hong Kong – Vietnam Chamber of Commerce (HKVCC), 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 partner. This is one of the key activities for the 70-people of Hong Kong Business Delegation to Vietnam from 8 to 14 January 2023, led by Dr. Jonathan Choi, Chairman of CGCC, HKVCC, GBA Union and Sunwah Group.

Attending this event were Mr. Tran Duy Dong, Deputy Minister of Planning and Investment; Mr. Algernon Yau, Secretary for Commerce and Economic Development of Hong Kong; Mr. Do Nhat Hoang, Director of Foreign Investment Agency, Ministry of Planning and Investment, Mr. Pham Binh Dam, Consul General of Vietnam in Hong Kong and  Macau. There were also representatives of the Industry and Service Economic Management Department ko and the Economic Zones Management Department under the Ministry of Planning and Investment, as well as representatives from Ministry of Industry and Trade, Ministry of Foreign Affairs, Ministry of Science and Technology and Ministry of Agriculture and Rural Development. The event brought together nearly 400 senior officials from 10 cities and provinces; representatives of various Embassies in Hanoi; leaders of leading universities, business associations, organizations and industry experts from Vietnam, Hong Kong – Guangdong – Macau area and other countries and regions.

Nearly 400 senior officials; representatives of various Embassies; leaders of leading universities, business associations, organizations and industry experts attended the Business Forum

The Business Forum and Luncheon aims 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.

In the welcome remarks, Mr. Tran Duy Dong, Deputy Minister of Planning and Investment expressed his gratitude to the Hong Kong businesses delegation who came to Vietnam to seek investment. He shared that “Vietnam has now become the 3rd largest economy in ASEAN with GDP of nearly 400 bil USD. The 2022 GDP reached 8.02%, which is one of the high growth countries in the region and the world. (…) Regarding trade, Vietnam is currently the 8th largest partner of Hong Kong; meanwhile for investment, Hong Kong is the 5th largest investor of Vietnam, with many significant projects by Hong Kong companies to Vietnam’s economy.”

Mr. Tran Duy Dong, Deputy Minister of Planning and Investment delivered his welcome remarks

Dr. Jonathan Choi, Chairman of CGCC, HKVCC, GBA Union and Sunwah Group shared in his opening remarks: “Hong Kong’s strength in facilitating economic cooperation between Mainland China and the ASEAN countries has been long well-recognized. As an international finance, trade and aviation center, an innovation and cultural hub, Hong Kong acts as a super connector between mainland China and the world. Besides, Hong Kong is also an important gateway for companies from Mainland China to invest in Vietnam.” He added, “Vietnam’s trade activities are closely linked with the Hong Kong – Guangdong – Macau Area – a large market of about 86 million people with unique advantages in the criteria of abundant resources, modern service industry and economic scale. (…) The geographical and cultural proximity facilitates a fundamental development of cooperation between Vietnam, Hong Kong and the Area in many fields, especially trade, investment and tourism. With the new significant development in each region, we firmly believe there will be many other collaboration opportunities, particularly in agricultural products demand, financial services, technology and innovation.”

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

Mr. Algernon Yau, Secretary for Commerce and Economic Development of Hong Kong delivered a speech on Hong Kong’s expectations on fostering business cooperation between two sides in the post-pandemic period. He emphasized: “Vietnam’s economy has been growing very fast in recent years in the midst of an unfavourable global economic environment, in particular in the manufacturing sector, presenting opportunities for the business communities overseas. Over 60 Hong Kong business leaders joining this business delegation to come to Vietnam is a case in point.” He added, “With the entry into force of the ASEAN – Hong Kong, China Free Trade Agreement in 2019, the tie between the two economies has gone from strength to strength. To further enhance our trade and economic ties with ASEAN member states including Vietnam and other key economies in the region, Hong Kong has made a request to join the Regional Comprehensive Economic Partnership (RCEP) of which Vietnam is a member. Hong Kong’s prospective membership in the RCEP will further deepen the bilateral relation between Hong Kong and Vietnam.”

Mr. Algernon Yau, Secretary for Commerce and Economic Development of Hong Kong spoke about Hong Kong and Vietnam bilateral cooperation in the post-pandemic period

As the representative from the co-organizer, Mr. Do Nhat Hoang, Director of Foreign Investment Agency of the Ministry of Planning and Investment spoke about Vietnam’s economic overview and policies to attract foreign investors such as: corporate income tax incentives; free import tax; free or reduction of land use cost, land rent cost, land use tax; quick depreciation for more preferable taxable income.

Mr. Do Nhat Hoang, Director of Foreign Investment Agency of the Ministry of Planning and Investment deliver a speech about Vietnam’s economic overview and policies to attract foreign investors

During the event, the MOU signing ceremony on Hong Kong-Vietnam investment cooperation between the Foreign Investment Agency and three business chambers CGCC, GBA Union and HKVCC was successfully held.

MOU signing ceremony between the Foreign Investment Agency and three business chambers CGCC, GBA Union and HKVCC

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. 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.

Panel discussion titled “Vietnam and Hong Kong – Guangdong –  Macau Partnership: New Opportunities for Hong Kong investors in the New Era”

According to Foreign Investment Agency, as of October 2022, Hong Kong was the fifth largest investor in Vietnam after Korea, Japan, Singapore, Taiwan (China) with nearly 2.200 projects and about 30 billion US dollars of total investment capital registered. Main industries that Hong Kong has invested in Vietnam include manufacturing, services, real estate, hotels and restaurants. The success of the Business Forum and Networking Luncheon, along with the participation of State agencies as well as many large associations and enterprises promises to enhance the bilateral cooperation between Vietnam and Hong Kong in the post-Covid-19 era.