Connecting investment and trade between Vietnam and the Hong Kong – Guangdong – Macau Greater Bay Area

Many potentials and opportunities for cooperation and trade between businesses were opened up at the Forum connecting businesses of Vietnam and the Hong Kong – Guangdong – Macau Greater Bay Area on December 20 in Hanoi .

The forum was co-organized by the Chinese General Chamber of Commerce in Hong Kong (CGCC), the Guangdong-Hong Kong-Macau Bay Area Entrepreneurs Alliance (GBA Alliance), the Hong Kong-Vietnam General Chamber of Commerce (HKVCC), the China Council for the Promotion of International Trade in Guangzhou (CCPIT Guangzhou) in coordination with the Foreign Investment Bureau ( Ministry of Planning and Investment ), and the Hong Kong Economic and Trade Office in Singapore (HKETO), bringing together more than 250 delegates from government agencies, associations, trade organizations and leading enterprises from Vietnam and the Greater Bay Area of Hong Kong, Guangdong, and Macau.

This is also an important occasion to strengthen and develop the strategic relationship between Vietnam and the Greater Bay Area, opening up opportunities for extensive cooperation in key areas such as investment, trade, technology and infrastructure.

Dr. Jonathan Choi, Vice President of GBA Alliance, delivered the opening speech at the Forum. (Photo: Van Chi)

Speaking at the opening of the Forum, Dr. Jonathan Choi, Vice Chairman of GBA Alliance, General Director of Sunwah Group (Hong Kong) in the Guangdong - Hong Kong - Macau Greater Bay Area and Southwest China, emphasized the strategic importance of cooperation between Vietnam and the Hong Kong - Guangdong - Macau Greater Bay Area. He affirmed that, with its strategic location and strong development potential, this area can contribute significantly to the common prosperity of Vietnam in the near future.

"Hong Kong (China) continues to play an important role as a bridge, helping Chinese businesses access and invest in Vietnam. With Vietnam's outstanding development potential, this is a golden opportunity for Hong Kong and Greater Bay Area businesses to exploit and prosper," Mr. Jonathan Choi assessed.

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc affirmed strongly committed by the Vietnamese Government to building a favorable and attractive investment environment. According to Ms. Bich Ngoc, since opening up to foreign investors, Chinese enterprises in general, and enterprises from Guangdong, Hong Kong, and Macau in particular, have made many contributions to Vietnam's socio -economic development.

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc affirmed strong commitment of the Vietnamese Government in building a favorable and attractive investment environment. (Photo: Van Chi)

With advantages in capital, scientific and technological level, business management experience and sharp market access capacity, Chinese, Hong Kong and Macau enterprises have been doing business effectively and sustainably in Vietnam with a total investment capital of more than 68 billion USD, accounting for nearly 15% of total foreign investment capital, and import-export turnover reaching nearly 200 billion USD.

"Vietnam encourages large Gulf businesses to expand investment cooperation in areas of strength and high demand and priority for Vietnam such as infrastructure development, innovation, artificial intelligence, green development, renewable energy, smart cities, high-quality manufacturing industry...; especially large, capable and reputable businesses to cooperate in large, typical projects; build supply chains in Vietnam and connect with the world," said Ms. Bich Ngoc.

Representative of China Council for the Promotion of International Trade in Guangzhou, Party Committee Member, Deputy Director, Level 2 Inspector Zhang Yan delivered important messages on trade and investment promotion. She emphasized the remarkable development of the Guangdong-Hong Kong-Macao Bay Area, especially Guangzhou, as the leading economic, trade and international exchange center in China.

Party Committee member, Deputy Director, Level 2 Inspector Zhang Yan pledged to continue supporting Vietnamese enterprises to cooperate with Guangzhou enterprises in key areas, promote economic exchanges and expand international markets. (Photo: Van Chi)

This is the most dynamic and open economic region in China, with a gross domestic product exceeding 14 trillion yuan by 2023, creating many internationally influential Fortune 500 companies such as Huawei, Tencent and BYD. Guangzhou has established an extensive cooperative relationship with Hanoi, demonstrated through economic, trade and transportation projects such as international railways and airlines.

To concretize the cooperation visions, Mr. Jesse Choi, Chairman of GBA Alliance, Executive Chairman of Guangdong Business Association in Vietnam, member of the Board of Directors and General Director of Sunwah Group (Hong Kong) ASEAN region, on behalf of the Alliance, announced the cooperation content and specific proposals on the role of the Alliance in supporting and attracting enterprises in the Guangdong - Hong Kong - Macau Greater Bay Area to cooperate and invest in Vietnam.

According to Mr. Jesse Cho, the Alliance will implement specific plans to promote investment in Vietnam by promoting Vietnam's investment environment through the Alliance's facilities in the GBA region, connecting businesses between the GBA region and Vietnam, organizing survey delegations from the GBA region to Vietnam, and periodically organizing investment forums and providing one-stop support services, creating favorable conditions for businesses in the Greater Bay Area to cooperate extensively and achieve investment goals in Vietnam.

Signing ceremony of the Memorandum of Understanding (MOU) between the China Council for the Promotion of International Trade in Guangzhou and the GBA Alliance. (Photo: Van Chi)

One of the most notable highlights of the event was the signing ceremony of a Memorandum of Understanding (MOU) between the China Council for the Promotion of International Trade in Guangzhou and the GBA Alliance. This signing ceremony is not only an important step in formalizing the cooperative relationship between enterprises and associations of the two regions, but also opens a new chapter in the strategic partnership between Vietnam and the Greater Bay Area.

Within the framework of the Forum, typical enterprises of Vietnam and China also had brief presentations on business development orientation, cooperation needs in the coming time as well as potentials that businesses of both sides can exploit further, especially in the fields of: Investment in production infrastructure, Trade and Services, Technology serving green production.

This event marks an important milestone in promoting sustainable and long-term cooperation between Vietnam and GBA, opening up outstanding development opportunities for businesses of both sides in many key economic sectors.

The forum is one of the main events within the framework of the visit and work of the Delegation of more than 60 businessmen, members of Associations and large enterprises from Hong Kong and the Greater Bay Area of Hong Kong - Guangdong - Macau (China) to Vietnam from December 15-21, led by Dr. Jonathan Choi, Chairman of CGCC, GBA Alliance, HKVCC.

During the working trip, the delegation made a survey trip to Ho Chi Minh City and attended the Investment and Trade Forum of Ho Chi Minh City and the Guangdong - Hong Kong - Macau Greater Bay Area held there; met with Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan, Chinese Consul General in Ho Chi Minh City Wei Hua Xiang, Director of the Southern Investment Promotion Center (Foreign Investment Department) Tran Thi Hai Yen and many other important leaders.

Source: https://baoquocte.vn/ket-noi-dau-tu-thuong-mai-giua-viet-nam-va-khu-vuc-vinh-lon-hong-kong-quang-dong-ma-cao-298178.html