Earlier, spearheaded by Jonathan Choi, the Chamber’s Chairman, several groups jointly organized a large-scale delegation to visit Vietnam to explore business opportunities in order to promote in-depth cooperation between Hong Kong and Vietnam.
The Chamber, together with the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Union and the Hong Kong-Vietnam Chamber of Commerce, jointly organized this large-scale delegation. Choi served as the head of the delegation, while Algernon Yau, Secretary for Commerce and Economic Development, and Pham Binh Dam, Consul General of Vietnam in Hong Kong, were the honorary heads accompanying the delegation. The delegation visited Hanoi and Ho Chi Minh City from 8 to 14 January to explore trade and business opportunities between Hong Kong and Vietnam.
Hanoi visit for deepening of bilateral ties
While in Hanoi, the delegation held the “Roundtable Meeting Between Vietnam Chamber of Commerce and Industry (VCCI) and Hong Kong Business Delegation” and the “Vietnam and Hong Kong-Guangdong-Macao (China) Partnership Business Forum and Networking Luncheon”. Choi said that members of the delegation, who came from different industries, look to Hong Kong and Vietnam pushing for cooperation in finance, logistics and innovation & technology (I&T). As the pandemic eases, Hong Kong, Vietnam and the Greater Bay Area are poised to herald more opportunities for cooperation in many areas.
Besides highlighting Hong Kong’s business advantages and investment opportunities, Yau said that he looked forward to deepening understanding of Vietnam’s economic development and boosting bilateral trade ties through this trip. He also said that Hong Kong businesses are very interested in investment in Vietnam as its economy has been growing very fast in recent years, and that Hong Kong’s accession into the RCEP will further deepen bilateral relations between the two places. Tran Duy Dong, Deputy Minister of Planning and Investment of Vietnam said that Vietnam’s GDP was close to USD400 billion and grew rapidly by 8.02% in 2022. He expected economic and trade ties to become increasingly frequent between Hong Kong and Vietnam. Do Nhat Hoang, Director General of Foreign Investment Agency under the Ministry of Planning and Investment of Vietnam highlighted Vietnam’s recent economic development and new policies for attracting foreign investment.
The delegation also met with Tran Quoc Khanh, Deputy Minister of Industry and Trade of Vietnam. Pointing out that Hong Kong and Vietnam are important economic and trade partners to each other, Tran said that he was very grateful for the delegation’s visit and looks forward to working with the HKSAR Government.
Moving on to Ho Chi Minh City to seek business opportunities in the key city
Continuing its visit, the delegation travelled on to Ho Chi Minh City on 11 January. While there, it paid a visit to Phan Van Mai, Permanent Vice Secretary of the Party Committee and Chairman of the Municipal People’s Committee of Ho Chi Minh City. Pointing out that Hong Kong's experiences in the financial, semiconductor technology and biotechnology industries are good examples for Ho Chi Minh City to emulate, Phan said that he looks forward to in-depth cooperation between the two places going forward. Choi said that Ho Chi Minh City, which has great potential for development, is an ideal investment destination for Hong Kong companies. On the same day, the delegation also paid a visit to Wei Huaxiang, Consul General of China in Ho Chi Minh City. Stressing that Hong Kong is an important node of the “Belt and Road” Initiative, Wei said that he looks forward to further facilitating bilateral multi-faceted cooperation.
At the “Hong Kong - Ho Chi Minh City Investment and Business Forum and Networking Dinner” held subsequently, Vo Van Hoan, Vice Chairman of the People’s Committee and Vice Mayor of Ho Chi Minh City, was invited to deliver a speech. Other guests included Pham Binh Dam and Wei Huaxiang, as well as consuls general of several countries, government officials, experts, scholars and business leaders. A total of nearly 250 guests attended the event.
In his speech at the forum, pointing out that economic recovery in Ho Chi Minh City has far exceeded expectations, Choi said he is convinced that enterprises from Guangdong, Hong Kong and Macao can find business opportunities in the city. Cao Thi Phi Van, Deputy Director of the Investment and Trade Promotion Centre of Ho Chi Minh City, presented a thematic report on Ho Chi Minh City’s investment environment and opportunities.
Hong Kong and Vietnam jointly promote I&T development
The delegation also met with Nguyen Chi Dung, Minister of Planning and Investment of Vietnam and Huynh Thanh Dat, Minister of Science and Technology of Vietnam, to strengthen cooperation between Hong Kong and Vietnam in the field of I&T. Pointing out that Vietnam boasts an abundance of human resources and a vast market, Nguyen said he hopes that investors from Mainland China and Hong Kong would increase their investment in Vietnam. Huynh said that Vietnam, which has improved its development model in recent years, is committed to I&T development, and he looks forward to stronger cooperation with Hong Kong in this field going forward.
Yang Wang, Vice-President for Institutional Advancement of HKUST and who accompanied the delegation, said that he looks forward to synergies coming through from ties and cooperation between the two places.
While in Ho Chi Minh City, the delegation visited the Saigon Hi-Tech Park (SHTP) and MWG which is located in the park. Established in 2002, SHTP is one of the three national high-tech parks set up by the Vietnamese government. As for MWG, it ranked among the top 10 of Vietnam’s top 500 companies in 2022. Members of the delegation had discussions with Nguyen Anh Thi, President of SHTP, and Nguyen Duc Tai, Chairman of MWG.
The next day, the delegation visited CMC Data Centre, which is one of the leading data centres not only in Vietnam, but also in the wider Southeast Asia. Subsequently, the delegation visited Sunwah Innovation Centre and Sunwah Centre that is located in Sunwah Group’s headquarters in Ho Chi Minh City. While there, the delegation was briefed by Jesse Choi, Director of Sunwah Group in charge of Southeast Asia, on Sunwah Innovation Centre’s founding philosophy and supporting facilities.
Summing up the trip, Choi said that ASEAN is a key region for sustainable development going forward, and Vietnam, as one of the ASEAN member states, has plentiful opportunities. At the same time, Vietnam has a young population with a rising number of people in the middle-class who have a strong demand for high-quality consumer goods and brands. This presents a broad development space for Hong Kong companies interested in tapping into the Vietnamese market.
