Prime Minister Nguyen Xuan Phuc: A good environment is waiting for investors

On the afternoon of September 14, during his visit to the Hong Kong Special Administrative Region, speaking to 300 investors attending the Hong Kong-Vietnam Business and Investment Forum, Prime Minister Nguyen Xuan Phuc emphasized that a good environment is waiting for investors and hopes that investors will continue to invest in Vietnam so that we can develop together and benefit together.

This is a special forum jointly organized by VCCI, the Chinese General Chamber of Commerce in Hong Kong and the Hong Kong-Vietnam Chamber of Commerce. The forum attracted the participation of 300 businesses and investors from Hong Kong, China, Vietnam and many countries around the world. Also attending was Acting Chief Executive of the Hong Kong Special Administrative Region Rimsky Yeun.

“If investors fail, we fail”

Speaking at the forum, Prime Minister Nguyen Xuan Phuc announced the results of the talks and meetings between the Prime Minister and senior Chinese leaders. The two sides agreed on many strategic directions to elevate the bilateral cooperation to a new stage of development, focusing on promoting stronger, higher-quality, more effective and sustainable economic and trade cooperation.

This is an important foundation and a favorable opportunity for successful cooperation between Vietnamese enterprises and Chinese partners in general and Hong Kong in particular. “This year, we strive for bilateral trade turnover to reach 100 billion USD. Vietnam will be one of China’s largest ASEAN trade partners. This is good news for all Hong Kong investors doing business in Vietnam,” the Prime Minister said.

The Prime Minister speaks to 300 investors attending the Hong Kong-Vietnam Business and Investment Forum. Photo: VGP/Quang Hieu

In front of hundreds of investors, the Prime Minister also introduced the socio-economic situation of Vietnam, especially the investment-business environment, potentials and advantages of the Vietnamese market.

“In particular, Vietnam is a country with very good socio-political stability and the Government is building a healthy investment and business environment, and making drastic administrative reforms. Building an honest and development-creating Government has been set out to serve the people and businesses better,” said the Prime Minister. “A good environment is waiting for you and we hope you will continue to invest in Vietnam so that we can develop together and benefit together. We pledge that Vietnam will create favorable conditions for Hong Kong businesses to invest in areas where it has strengths such as banking, finance, insurance, maritime transport services, infrastructure investment, electronic components, supporting industries, processing and consumption of agricultural products.”

The Prime Minister hopes that with its position as a leading regional and global financial center, Hong Kong will be a favorable market to mobilize credit for development, especially infrastructure investment in Vietnam.

“Vietnam welcomes you and hopes that you will soon promote investment and business in Vietnam. I would like to say once again that the Vietnamese Government considers your success as our success. Your failure is our failure,” the Prime Minister affirmed.

The Prime Minister believes that with a population expected to increase by nearly 100 million in the coming years, a large market with a large economic openness, Vietnam will soon be a good land for investment and business cooperation in the spirit of win-win.

At the forum, there was a signing ceremony of 10 cooperation agreements and trade contracts with a total value of up to 10 billion USD between participating enterprises. Photo: VGP/Quang Hieu

Signed contracts and cooperation agreements worth nearly 10 billion USD

In his speech, Acting Chief Executive of the Hong Kong Special Administrative Region Rimsky Yeun stated that the cooperative relationship between Hong Kong and Vietnam is developing comprehensively in all fields. More and more Vietnamese people are living, working and studying in Hong Kong. The two sides are also having close cooperation in trade and investment. In 2015, Vietnam was Hong Kong's 9th largest trading partner. Two-way turnover between Hong Kong and Vietnam reached nearly 11 billion USD.

Mr. Rimsky Yeun suggested that Vietnamese enterprises further strengthen cooperation activities with Hong Kong partners; he hoped that the Vietnamese Government would create more favorable conditions for Hong Kong enterprises to invest in Vietnam so that the two sides could cooperate more effectively in all fields, especially in capital and intellectual property. Mr. Rimsky Yeun stated that Hong Kong will continue to expand investment in Vietnam and strongly support Vietnamese enterprises to penetrate the Hong Kong and domestic Chinese markets.

Hong Kong-Vietnam Business and Investment Forum. Photo: VGP/Quang Hieu

At the forum, there was a signing ceremony of 10 cooperation agreements and trade contracts with a total value of up to 10 billion USD between participating enterprises. Notably, at this forum, VCCI also signed cooperation agreements with 3 partners, including: Chinese Chamber of Commerce in Hong Kong, Hong Kong-Vietnam Chamber of Commerce and Hong Kong Trade Development Council.

According to VCCI's assessment, the forum has further promoted economic and trade cooperation between the Vietnamese business community and Hong Kong, China and regional and international businesses, especially investment activities through banking systems, international financial funds...

According to Chinhphu.vn