Hong Kong seeks stronger economic ties with Vietnam

HO CHI MINH CITY: Hong Kong looks forward to stronger ties with Vietnam, its chief secretary for administration, Carrie Lam, said.

Speaking at a luncheon meeting on “Opportunities for Hong Kong and Vietnam under Asean Regional Co- operation” in HCM City on Aug 17, she said Vietnam is Hong Kong’s third largest trading partner in Asean, Vietnam News AGency ( VNA) reports.

Bilateral trade topped 16 billion dong ( US$ 717,600 million) last year, a year- on-year increase of 16.7 per cent.

Hong Kong is Vietnam’s 10th largest trading partner, while the latter is the island’s ninth largest partner.

It was Vietnam’s sixth largest source of FDI in the first fours month of this year, valued at around US$ 196 million, she said.

The conclusion of free trade agreement talks between Asean and Hong Kong, scheduled this year, would promote economic and trade ties, including with Vietnam, she said.

In his welcome speech, Jonathan Choi, permanent honorary president of the Chinese General Chamber of Commerce in Hong Kong, and chairman of the Hong Kong-based Sunwah Group, said the East Asian economies were entering a new stage of regional cooperation and integration.

“I believe that there is a great deal of potential for Hong Kong and Vietnam to work closer together to make strategic contributions in regional collaboration,” he said.

As a major international financial centre, Hong Kong is an ideal place to provide adequate infrastructure financing for Vietnam and other Aseanmarkets, he stressed, adding Vietnam’s investment incentives can attract foreign investments across a wide range of sectors.

On the conclusion of the AseanHong Kong FTA, Hong Kong will enhance its “super- connector” role between the Asean Economic Community.

Co- organised by the Chinese General Chamber of Commerce in Hong Kong ( CGCC) and the Hong Kong Economic and Trade Office in Singapore, the luncheon attracted over 300 participants, including CGCC committee members, government officials, and business leaders from Asean, mainland China and Hong Kong.

The annual event aims to explore further opportunities and future development between Hong Kong and Asean.

It was held in Kuala Lumpur and Singapore in 2014 and 2015. — Bernama