Ample opportunities for Vietnam-Hong Kong collaboration in new normal

September 21, 2021 | 16:42
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Vietnam and Hong Kong have a lot of opportunities to enhance collaboration in the new normal in such fields as trade, investment, professional services, as well as innovation and technology (I&T).
Ample opportunities for Vietnam-Hong Kong collaboration in new normal
There are a great many areas where Vietnam and Hong Kong can cooperate with mutual benefits

This was emphasised at a webinar titled "Revival under the 'New Normalcy': Hong Kong - Vietnam Partnership" jointly held by the Hong Kong Commerce and Economic Development Bureau and Vietnam's Ministry of Industry and Trade.

Edward Yau, Secretary for the Commerce and Economic Development Bureau, emphasised that following the full implementation of the free trade agreement and investment agreement between Hong Kong and the ASEAN in February, business and trade between Hong Kong and Vietnam has become even easier and more mutually advantageous. In the future, he stated that Hong Kong would work to strengthen its relationship and collaboration with Vietnam.

As Hong Kong and Vietnam are dealing with the epidemic, Yau indicated that there is space for even greater corporate partnership in sectors like biotech, medical technology, and ICT. He introduced the I&T Experience Sharing and Business Promotion Platform, which covered inventions that had been successfully implemented in Hong Kong, and said Hong Kong was willing to share its knowledge with Vietnam.

Noting that Vietnam has embarked on a number of infrastructure and investment projects, he highlighted the useful roles of Hong Kong's professional and financial services in those projects. He appealed to Vietnamese enterprises to leverage Hong Kong's unique advantages to capitalise on the new and exciting opportunities offered by China, including the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

Hong Kong is the natural gateway linking Mainland of China, Asia, and the world. The Hong Kong Trade Development Council (HKTDC) has recently launched the GoGBA one-stop service platform to help enterprises make the most out of the GBA's development. Enterprises may also make use of the Mainland and Hong Kong Closer Economic Partnership Arrangement to access the vast and growing market in the Mainland.

According to data by the Vietnamese Ministry of Planning and Investment, Hong Kong is one of the five largest foreign investors in Vietnam. Accumulated as of August, Hong Kong had invested $27 billion across 2,000 projects in Vietnam.

By Vy Nguyen

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