Vietnam, China’s special administrative region strengthen trade links

A forum aimed at strengthening business and investment connections between Vietnam and the Guangdong–Hong Kong–Macao Greater Bay Area (GBA) took place in Hanoi on December 20.

The event was co-organised by the Foreign Investment Agency (FIA) under Vietnam’s Ministry of Planning and Investment (MPI), the Chinese General Chamber of Commerce (CGCC), the GBA Entrepreneurs Alliance, and the Hong Kong-Vietnam Chamber of Commerce (HKVCC).

The forum attracted over 250 delegates from government bodies, trade organisations, and enterprises, serving as a platform to explore opportunities for collaboration in investment, technology, and infrastructure development.

In her opening remarks, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc emphasised Vietnam's commitment to creating favourable conditions for foreign investors, including those from Hong Kong.

The MPI will always create favourable conditions for foreign investors, including those from Hong Kong, to invest and do business effectively in Vietnam, she said. The official expressed the hope that the economic relations between Vietnam and Hong Kong will develop to new heights, towards prosperity and sustainable development of their business community.

Dr. Jonathan Choi, Chairman of CGCC, GBA Entrepreneurs Alliance, and Sunwah Group, highlighted Hong Kong’s pivotal role as a gateway for Chinese enterprises to access Vietnam.

“With its robust development potential, Vietnam offers a golden opportunity for businesses from Hong Kong and the Greater Bay Area to thrive,” he said.

During the forum, Alfred Tang, Deputy Director of the Hong Kong Economic and Trade Office in Singapore, expressed confidence in Vietnam’s continued economic growth, emphasising the potential for deeper collaboration in trade and investment.

A significant milestone was the signing of a Memorandum of Understanding between the CCPIT Guangzhou and the Hanoi Chapter of the GBA Entrepreneurs Alliance. The agreement aims to enhance trade and investment promotion between the two regions.

The forum also featured presentations from Vietnamese and Chinese businesses outlining strategies and opportunities for cooperation in industrial infrastructure, trade services, and smart technologies.

According to the MPI, economic ties between Vietnam and Hong Kong have grown steadily across various sectors.

Vietnam has consistently ranked as Hong Kong's seventh-largest trading partner and second among ASEAN nations in recent years.

Data from Vietnam’s Foreign Investment Agency under the Ministry of Planning and Investment shows that Hong Kong was the fourth-largest foreign investor in Vietnam during the first 11 months of 2024, with 335 new projects and registered capital exceeding 1.95 billion USD./.