Hong Kong is currently an ideal destination for Vietnamese firms to expand operations abroad, heard a round-table seminar in Ho Chi Minh City on August 13.
HCM City (VNA) - HongKong is currently an ideal destination for Vietnamese firms to expandoperations abroad, heard a round-table seminar in Ho Chi Minh City on August13.
Vo Tan Thanh, Director of the VietnamChamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch, held that Vietnamand Hong Kong are key major trade partners of each other with bilateral trade reaching9.2 billion USD in 2017, up 22 percent from 2016.
As of June 2018, Hong Kong wasthe sixth largest foreign investor in Vietnam with a total capital of nearly 19billion USD, he said.
With the ASEAN-Hong Ko꧙ng freetrade agreement, trade and investment between Vietnam and Hong Kong are bothexpected to grow fiercely in the near future. Vietnam is encouraging firms toexpand investment abroad to popularise Vietnamese products across the൩ world.
Thanh hailed Hong Kong as a free, developed economy with astrategic location, modern infrastructure, and large capital inflows. According to him, if Vietnamese enterprises venture onto thismarket, they could access a massive capital source and tap into one of the world’sbusiest seaports, thereby bringing good𓆏s to even further markets.
Stephen Phillips, General Directorof Investment Promotion at Invest Hong Kong (IK), said Hong Kongis calling for investment in the fields of financial services, consumer goods,transportation and industry, tourism-restaurant-hotels, technologicalinnovation, and innovative industries. He lauded Hong Kong for its active international businessenvironment, convenient business registration procedures, modern infrastructure,and low tariffs, adding that it now has a mechanism to provide support fornewly-established and mature firms, from planning and opportunity evaluation tovisa application and marketing. Phillips said business opportunities in Hong Kong are widespreadfor Vietnamese enterprises. However, other issues should be considered,including high office rent, workforce costs, and intense competition with othermultinational corporations, he noted. Therefore, the IK representative suggested opening sales,marketing, and financial offices in Hong Kong to tap into existing advantagesin managing supply chains, while placing logistics facilities and warehouseselsewhere in order to save costs.–VNA
A double taxation pact to do away with taxes between Vietnam and Hong Kong will further boost economic cooperation as well as increase trade between the two sides in the future, said a Hong Kong trade official.
Prime Minister Nguyen Xuan Phuc arrived in Hong Kong, the third leg of his official visit to China under the invitation of Premier Li Keqiang, on the morning of September 14.
Prime Minister Nguyen Xuan Phuc suggested expanding bilateral economic, trade, investment ties during a meeting with Chief Executive of the Hong Kong Special Administrative Region Leung Chun-ying.
Vietnam and Hong Kong (China) boast a lot of potentials to promote economic cooperation, especially to raise bilateral trade, heard a press conference in Ho Chi Minh City on November 17.
Prime Minister Pham Minh Chinh affirmed that science, technology, innovation, digital transformation, green transition, and circular economy are offering limitless opportunities for bilateral collaboration.
The US remained Vietnam’s largest market, accounting for 55% of the country's total wood exports. Key products include wooden furniture, plywood, doors, and handicrafts.
With a clear development strategy, proactive investment attraction and strong policy support for sustainable agriculture, Tay Ninh is positioning itself as a major hub for high-tech livestock farming in the southern region.
As Vietnam’s largest private carrier, Vietjet has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years.
The Vietnam National Petroluem Group (Petrolimex) had acted early to mitigate risks amidst the recent surge in global oil prices driven by the Israel–Iran conflict, Vietnam News Agency cited a Petrolimex representative as saying.
In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
At the event (Source: VNA) 
