Hong Kong businesses look to invest in Binh Duong
A delegation of representatives from dozens of Hong Kong companies made a field trip to the southern province of Binh Duong on June 25 to learn about the local investment climate.
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According to Hong Kong Trade Development Council (HKTDC) Executive Director Margaret Fong, Hong Kong has so far invested more than US$1 million in 82 projects in Binh Duong, mostly in the sectors of garment-textile, woodwork and plastic bag production.
Vietnam’s signing of the Trans-Pacific Partnership has opened up opportunities for investors, while Hong Kong is working to secure trade agreements with ASEAN member states. In other words, HKTDC considers Vietnam a priority market.
She hailed Binh Duong for its marked socio-economic achievements over the past time, saying they serve foundations for Hong Kong firms to invest in the locality.
Tran Thanh Liem, Chairman of the provincial People’s Committee, said local authorities are committed to building a favourable and safe business climate for investors.
Binh Duong is expected to become a centrally-run city by 2020, with 10,000 hectares of industrial and urban land zoned off in preparation for the future landing of investors.
The province has attracted US$25 billion in foreign investment so far. It contributed US$21 billion to the country’s export revenue last year.
