Hong Kong (VNA) – Vietnam is always avery good business partner of Hong Kong (China), and the two sides have maintainedeffective trade and investment ties over the past years, according to Hong Kong’sSecretary for Commerce and Economic Development Algernon Yau.

Trade between Vietnam and Hong Kong grew 11.8% each yearduring the 2017-2021 period. In 2021 alone, the value reached 220 billion HKD(28.1 billion USD), up 19% year-on-year.

Hong Kong is the fifth largest trade partner ofVietnam, while Vietnam is the seventh largest trade partner of Hong Kong, and thesecond biggest among the ASEAN countries, only after Singapore. The two-waytrade in the first half of 2022 stood at 125 billion HKD, a year-on-year riseof 21%.

Algernon told the Vietnam News Agency that his recentvisit to Vietnam for a workshop on business cooperation between Vietnam and theGuangdong-Hong Kong-Macao Greater Bay Area of China was a very “eventful andfruitful journey.”

While in Vietnam, he met the Vietnamese Minister of Planningand Investment, the Minister of Science and Technology and the Deputy Minister ofIndustry and Trade to seek measures to boost the bilateral cooperation in thetime ahead.

Algernon and his entourage of more than 60 representatives from HongKong enterprises had effective working sessions with the Hong Kong China Chamber of Commerce and the Vietnam Chamber of Commerce and Industry, he said.
 
He emphasised that HongKong businesses are very interested in investment in Vietnam and Vietnamesefirms also expressed their interest in investment in Hong Kong.

During his stay in Vietnam,Algernon also visited an industrial park in the northern province of Hung Yen andhad a “good discussion” with local authorities about cooperation opportunities.

Algernon said he saw substantialopportunities for trade and investment cooperation between the two sides in thetime ahead.

Vietnamis a member of the Regional Comprehensive Economic Partnership (RCEP) and the HongKong Special Administrative Region Government has applied for  accession into the RCEP since early 2022, he said,explaining that the membership would help to further facilitate the tradebetween Hong Kong and the RCEP countries.

According to him, Hong Kong serves as aplatform to get into the Guangdong-Hong Kong-Macao Greater Bay Area and gettingaccession into the RCEP will facilitate the members to use Hong Kong as aplatform to do business, both in Hong Kong and in the Greater Bay Area as well.

Highlighting Hong Kong’sadvantages, Algernon said they would help Vietnam and other RECEP countries dobusiness in the region./.