Vietnam PM Entices Hong Kong Investors, Sees $10 Billion Deals Inked

Tuan Minh

16:49 15/09/2016

BizLIVE - Vietnam’s Prime Minister Nguyen Xuan Phuc has persuaded investors from Hong Kong, China to scale up their investments in Vietnam.

Vietnam PM Entices Hong Kong Investors, Sees $10 Billion Deals Inked

Vietnamese PM Nguyen Xuan Phuc addresses the Hong Kong - Vietnam Business & Investment Forum on Sept. 14. Photo: Quang Hieu/VGP

Vietnamese Prime Minister Nguyen Xuan Phuc has encouraged Hong Kong investors to boost the presence in the Vietnam, which has accelerated economic integration and improved its investment climate considerably.
Addressing a business and investment forum in Hong Kong on Sept. 14, the third leg of the his visit to China, the PM depicted the Vietnamese economy with high GDP growth rates, rising foreign exchange reserves and the power purchasing parity topping $5,600 per capita in 2015.
Vietnam’s external trade has been expanding by 15% annually over the past few years, reaching $330 billion in 2015. Investors from over 110 countries and territories have registered to pour nearly $300 billion into 21,000 projects in the country.
“Notably, Vietnam enjoys excellent socio-political stability and its government is building up a healthy business environment and cutting red tape,” PM Nguyen Xuan Phuc noted.
He also pledged favorable conditions for Hong Kong enterprises in the sectors ranging from banking, marine transport, infrastructure development to electronics and supporting industries.
As a leading financial hub in the region and globe, Hong Kong is hoped to be a good place for Vietnam to raise funds for development projects, he added.
Speaking at the event, Acting Chief Executive of the Hong Kong Special Administrative Region Rimsky Yuen affirmed that Hong Kong would continue to invest in Vietnam and support Vietnamese firms in penetrating the territory and mainland China.
Vietnam was Hong Kong’s ninth-largest trade partner in 2015, with the two-way trade value touching $11 billion, Yuen noted.
Vietnamese enterprises and partners partaking in the forum signed ten cooperation agreements that totaled $10 billion.
The forum gave a boost to economic ties between Vietnamese businesses and partners from Hong Kong, China and other regional countries, particularly investment activities through banks and international funds, according to the Vietnam Chamber of Commerce and Industry (VCCI).