Hong Kong FTA to boost investment, photo: shutterstock Paul Chan, financial secretary of the government of the Hong Kong Special Administrative Region (HKSAR), said, “Hong Kong and the 10 member states of the ASEAN – including Vietnam – signed a free trade agreement (AHKFTA) and a related investment agreement last November. The agreements, taking effect in January, will undoubtedly boost trade and investment ties between Hong Kong, Vietnam, and the other nations of the region.” Hong Kong and Vietnam enjoy good and long-standing economic relations and the ties have only grown stronger. In 2017, Vietnam was Hong Kong’s 10th largest trading partner, while Hong Kong was Vietnam’s ninth largest trading partner. Bilateral trade in goods reached $18.1 billion during the year, making Vietnam Hong Kong’s fourth largest trading partner among the ASEAN economies. According to the Hong Kong Trade Development Council (HKTDC), the AHKFTA will bring about … [Read more...] about Hong Kong FTA to boost investment
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Hong Kong stands ready to welcome Vietnamese investors
Hong Kong is calling for investment from Vietnam in the fields of financial services, consumer goods, transportation and industry, tourism-restaurant-hotels, technological innovation, and innovative industries. According to Stephen Phillips, general director of Invest Hong Kong (InvestHK), Hong Kong's government promotion authority, Hong Kong is an active international business environment and offers foreign investors convenient business registration procedures, modern infrastructure, and low tariffs. Hong Kong is looking to strengthen business ties with Vietnam “Moreover, we now have a mechanism to provide support for newly-established and mature firms, from planning and opportunity evaluation to visa application and marketing,” stated Phillips at the round table to call for investment from Vietnam held in Ho Chi Minh City on August 13 organised by the Vietnam Chamber of Commerce and Industry (VCCI) Ho Chi Minh City. Phillips said there are ample business … [Read more...] about Hong Kong stands ready to welcome Vietnamese investors
China’s BRI brings firms from Hong Kong to Vietnam
Hong Kong companies are moving to Vietnam for investment and business purposes, capitalising on opportunities arising from China’s Belt and Road Initiative. Hong Kong is becoming a close economic partner of Vietnam amid the ambitious Belt and Road Initiative, Photo: Le Toan Margaret Fong, executive director of the Hong Kong Trade and Development Council (HKTDC), said, “Hong Kong could be Vietnam’s partner in exploring new business opportunities arising from the Belt and Road Initiative (BRI). We believe that there are many things we can do together with Vietnam as Hong Kong is now focused on going international.” According to Fong, the HKTDC will host the In Style Hong Kong Expo in Ho Chi Minh City this September. The expo is a two-day B2B trade exposition, showcasing a wide variety of quality branded and designer-led lifestyle products from Hong Kong companies. In March, a delegation of 60 Hong Kong companies in the finance, legal, accounting, and … [Read more...] about China’s BRI brings firms from Hong Kong to Vietnam
Opportunities for Hong Kong and Vietnam under Belt and Road Initiative
The third Belt and Road Summit welcomed some 5,000 participants from 55 countries and regions at the Hong Kong Convention and Exhibition Centre on June 28 ASEAN—the logical first stop for Chinese investors The Belt and Road Initiative (BRI) refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives. The network connects Asia, Europe, and Africa, and passes through more than 65 countries and regions with a population of about 4.4 billion, making up a third of the global economy. According to Bernard Charnwut Chan, president of Asia Financial Holdings Ltd., BRI has been gaining traction after its launch in 2013. In the last two years, more Chinese companies have been looking to invest in BRI-related countries. The logical first stop for Chinese investors is the ASEAN, he said, due to the historical connections and relations. As a Hong Kong-based firm, Asia Financial has been investing in both China and ASEAN markets for years. The firm has recently … [Read more...] about Opportunities for Hong Kong and Vietnam under Belt and Road Initiative
Hong Kong FTA set to boost FDI in Vietnam
A greater wave of investment from Hong Kong is expected to flow into Vietnam following the recently signed ASEAN-Hong Kong Free Trade Agreement, which will come into force in January 2019. Vietnam is expected to gain the most from the AHKFTA, Photo: Le Toan Edward Yau, secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region Government, told VIR that among ASEAN countries, Vietnam is expected to gain the most from the ASEAN-Hong Kong Free Trade Agreement (AHKFTA), as the country is Hong Kong’s fourth-largest trading partner within ASEAN. Yau led a high-level Hong Kong business delegation which came to Vietnam last week to explore opportunities for more trade and investment in Vietnam. According to Yau, there are many attractive infrastructure developments in Vietnam, including railway, port, highway, and city construction. These projects require professional services, including funding, business consultancy, architecture, and … [Read more...] about Hong Kong FTA set to boost FDI in Vietnam