The ASEAN-Hong Kong Free Trade Agreement is expected to help Vietnam attract more Hong Kong investors, Photo: Le Toan On June 11, the ASEAN-Hong Kong Free Trade Agreement (AHKFTA), signed by Hong Kong and 10 Southeast Asian countries, officially came into force for Vietnam, Laos, Thailand, Myanmar, and Singapore. Under the agreement, the economies will reap benefits from reducing goods tariffs, opening a free flow of services, and widening investments within and across borders. Similar to other nations’ commitments of cutting tariffs, Vietnam will eliminate customs duties on about 75 per cent of tariff lines within 10 years and reduce customs duties of about another 10 per cent of tariff lines within 14 years. “The AHKFTA is another peg in securing the trade liberalisation tent and it is a big win for the ASEAN, and particularly Vietnam,” said Pham Hong Hai, CEO of HSBC Vietnam. “With no end to the trade tensions, Hong Kong businesses are looking for wider … [Read more...] about Hong Kong spurs investment
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Danang tourism gets exposure in Hong Kong
The Danang Centre for Tourism Promotion under the Danang Department of Tourism recently hosted a roadshow in Hong Kong at The Cityview Hong Kong Hotel to promote tourism products and services, while simultaneously connecting travel firms in Hong Kong and Danang as well as promoting direct flights between the two locations. The Danang tourism promotion event in Hong Kong The event featured the presence of Tran Thanh Huan, consul general, Vietnamese Consul General in Hong Kong, the Hong Kong Association of Travel Agents, more than 60 representatives of tourism businesses in Hong Kong as well as local journalists and reporters. The Danang group was led by Huynh Thi Huong Lan, deputy director of the Danang Centre for Tourism Promotion, and representatives of the Danang Tourism Association, airlines, as well as hotels and golf courses in Danang. “Today’s event is organised to develop and reinforce business relations between travel firms in our two locations. Our … [Read more...] about Danang tourism gets exposure in Hong Kong
Violence breaks out as police try to clear Hong Kong protesters
Protesters march during a rally against a controversial extradition law proposal in Hong Kong. (Photo: AFP/Dale De La Rey) Protesters hurled bottles and used metal barricades as police moved in on a small group who had vowed to stay outside the legislature overnight, an AFP reporter on the scene said. At least one police officer could be seen with blood streaming down his face. The melees began shortly after midnight following a day that had seen a huge peaceful protest make its way through the city without incident. Organisers said more than a million people marched in blazing summer heat through the cramped streets of the financial hub's main island on Sunday in a noisy, colourful demonstration calling on the government to scrap its planned extradition law. Small groups of young protesters had planned to stay outside the city's legislature until Wednesday when the extradition bill is due to have its second reading. But police moved in on them after their permission to protest … [Read more...] about Violence breaks out as police try to clear Hong Kong protesters
Vietnam finish second at Hong Kong U18 Football Tournament
Vietnam finished second at the International U18 Football Tournament which wrapped up in Hong Kong on April 22 (Photo: vietnamnet.vn) Hanoi (VNA) - Vietnam finished second at the International U18 Football Tournament which wrapped up in Hong Kong on April 22. The Vietnamese team drew with the hosts 1-1 in the last match. Vo Nguyen Hoang scored for the visitors in the 56th minute, before while Connor Hew Fung Tong levelled a minute before the end. Vietnam ended the tournament with five points. In the previous games, they beat Singapore 1-0 and drew with Myanmar 0-0. The crown went to Myanmar who had same five points but had the best goal difference. Hong Kong came third with four points. The friendly tournament was part of Vietnam's preparations for the ASEAN Championship and Asian championship qualifier later this year.-VNA … [Read more...] about Vietnam finish second at Hong Kong U18 Football Tournament
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