Hong Kong entrepreneur highlights prospect of trade with Vietnam

A leader of the Sunwah Group has highlighted the prospect of trade cooperation between Vietnamese and Hong Kong businesses and made suggestions for the Vietnamese firms that want to access the Guangdong - Hong Kong - Macau Greater Bay Area (GBA) of China.

At a teleconference on September 20, Johnson Choi, Executive Director and Vice President of the Hong Kong-based conglomerate, said the ASEAN - Hong Kong Free Trade Agreement and Investment Agreement have brought about numerous benefits for all the signatories, including the trade and investment ties between Vietnam and Hong Kong.

He held that Vietnam and other ASEAN countries can make use of Hong Kong’s internationally recognised financial and commercial services and prepare to welcome a wave of investment to expand their production, service, industrial, and real estate sectors.

In fact, Vietnam has attracted a number of enterprises from the mainland China and Hong Kong who come to the country to establish their second bases, given the local advantages in land, labour cost, and human resources. As a result, bilateral trade and investment have recorded breakthrough development, according to the businessman.

Talking about Vietnamese firms’ intention to access the GBA, Choi said the GBA, with a population of over 70 million, generates many opportunities for Vietnamese companies in terms of technology, innovation, financial services, trade, and logistics.

The GBA is a major market for Vietnamese goods such as farm produce, fishery products, and coffee, so the country should increase high-quality products by upgrading their processing, packaging, and logistics processes so as to approach this market, he recommended.

The Sunwah leader, who is also Chairman of the GBA Entrepreneurs Union, said Hong Kong is always ready to assist Vietnamese enterprises to access the GBA market, adding that it will help the country’s businesses to not only enter the market but also connect with potential investors and executives here.

The teleconference on Vietnam - Hong Kong partnership was organised by the Vietnamese Ministry of Industry and Trade and the Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region Government.

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