Nghe An promotes cooperation with Hong Kong (China)
On August 2, the Nghe An Provincial Delegation led by Mr. Bui Dinh Long - Member of the Provincial Party Committee, Vice Chairman of the Provincial People's Committee attended the Vietnam - Hong Kong Business Connection event in Ho Chi Minh City.
Attending the working delegation were Mr. Tran Khanh Thuc - Director of the Department of Foreign Affairs; Mr. Ho Viet Dung - Deputy Director of the Department of Planning and Investment.
The event is the largest-scale activity of Hong Kong in 2024 in Vietnam with the participation of Mr. Lee Ka-Chiu, Chief Executive of the Hong Kong Special Administrative Region; Representative of the leadership of the Department of Foreign Affairs (Ministry of Foreign Affairs); Dr. Peter KN Lam, Chairman of the Hong Kong Trade Development Council; a delegation of senior officials of the Hong Kong government and leaders of many associations, businesses, and leading corporations from mainland China, Hong Kong...
The meeting and exchange between the government and business community of both sides is an opportunity to update information, share cooperation opportunities, call for capital, and expand business investment in the coming time.
The trade and investment cooperation relationship between Vietnam and Hong Kong (China) has developed well for many years. Hong Kong is currently one of the 10 largest trade partners of Vietnam and ranks 6th in terms of export market. In 2023, the bilateral trade volume reached 11.24 billion USD. Also in 2023, Hong Kong's (China) FDI in Vietnam reached 4.68 billion USD, ranking 3rd out of more than 100 countries and territories investing in Vietnam.
In the opposite direction, Vietnam is also the second largest trading partner of Hong Kong (China) among ASEAN countries and the seventh largest trading partner of Hong Kong globally.
Nghe An currently has 21 FDI projects from Hong Kong with a total registered capital of 1,632 million USD. These projects mainly focus on the following areas: Electronic component manufacturing; optical lens manufacturing; packaging and plastic products manufacturing; garment manufacturing; food processing.
Regarding trade, in 2023, Nghe An's export turnover to Hong Kong will reach more than 315 million USD, mainly on electronic equipment, components, textiles, garments, footwear of all kinds, etc.; import turnover from Hong Kong will reach more than 425 million USD, mainly on electronic equipment, components, steel of all kinds, textile and garment materials, footwear, etc.
On the same day, the delegation witnessed the signing ceremony of a Memorandum of Understanding on cooperation between Nghe An province and the Hong Kong Business Association in Vietnam to strengthen economic cooperation between Nghe An province and Hong Kong (China).
The Hong Kong Business Association in Vietnam is known as a prestigious organization with members who are businesses operating effectively in Vietnam with the goal of facilitating and enhancing the flow of investment, business and two-way trade between Vietnam and Hong Kong; Enhancing the position of Vietnam in the Hong Kong business community and the position of Hong Kong in the Vietnamese business community; Coordinating the implementation of bilateral activities chaired by Hong Kong representative agencies and/or business organizations; Supporting business issues in Hong Kong and Vietnam in accordance with the law; Facilitating the formation of strategic alliances between small and medium-sized enterprises of Vietnam and Hong Kong.
The signing ceremony of the Memorandum of Understanding took place in the context of Vietnam - China relations maintaining good development momentum and achieving many important results, a meaningful event in the vibrant foreign affairs activities of Nghe An province in 2024.
The two sides expect and believe that the Memorandum of Understanding will open up new opportunities to promote more effective cooperation programs and projects in the coming time in the following areas: Supporting the building of effective direct relationships between Nghe An enterprises and Hong Kong (China) enterprises to promote investment, trade and business cooperation between enterprises of the two sides; Coordinating the exchange of information on proposals and recommendations of Hong Kong (China) enterprises with relevant agencies to facilitate business activities of Hong Kong (China) enterprises in Nghe An province; Coordinating the organization of promotional programs, trade promotion, business connection forums, tourism promotion in Hong Kong (China) and Vietnam to support Nghe An enterprises to promote and seek cooperative relationships with Hong Kong (China) partners; Coordinate the organization of seminars, conferences and forums to exchange experiences, enhance connections and understanding between departments, branches, sectors as well as enterprises of Nghe An province with enterprises of Hong Kong (China); Encourage enterprises of Hong Kong (China) operating in the fields of tourism, high-tech agriculture, trade, education-training, industry... to learn, survey and invest in Nghe An province.
