HK fosters trade ties with Vietnam

January 10, 2023
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Secretary for Commerce & Economic Development Algernon Yau (right) meets Vietnam’s Minister of Planning & Investment Nguyen Chi Dung in Hanoi, Vietnam.

Secretary for Commerce & Economic Development Algernon Yau today continued to meet the Vietnamese political and business community to promote Hong Kong's vast business opportunities during his trip in Hanoi, Vietnam.


Noting that Hong Kong and Vietnam have enjoyed cordial relations over many years, Mr Yau said at a business forum and networking luncheon that their bilateral trade has grown significantly at an average annual growth rate of 11.8% from 2017 to 2021, and Vietnam has become Hong Kong's seventh largest trading partner.


Hong Kong has made a request to join the Regional Comprehensive Economic Partnership (RCEP) of which Vietnam is a member.


Mr Yau said Hong Kong's prospective membership in the RCEP will further deepen the bilateral relations between Hong Kong and Vietnam, and bring more business and investment opportunities to both places.


He also shared his insights with more than 300 guests, including government officials and representatives from the local business sector, on the latest trade and economic developments in Hong Kong, especially the new measures to attract enterprises and investments as well as Hong Kong's unique advantages under "one country, two systems".


A Hong Kong business delegation jointly organised by a number of Hong Kong chambers of commerce also attended the event.


Mr Yau added that Hong Kong's financial and professional services adhere to the best global practices and standards. He encouraged Vietnam's businesses to make use of Hong Kong's excellent services and platform to expand in the region, in the Guangdong-Hong Kong-Macao Greater Bay Area, the Mainland and beyond.


He then met Vietnam's Minister of Planning & Investment Nguyen Chi Dung and Minister of Science & Technology Huynh Thanh Dat to exchange views on issues of mutual interest and explore collaboration opportunities.

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