Thirty corporations from Hong Kong seek investment opportunities in Vietnam

A delegation of 30 companies led by John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), will visit Hanoi from July 31- August 1 and Ho Chi Minh City from August 1-2.

Organized by the Hong Kong Trade Development Council (HKTDC), the delegation will include HKSAR senior officials and 30 leaders of leading enterprises from mainland China and Hong Kong operating in finance and insurance, innovation and technology, professional services, infrastructure, transport and logistics, energy, and hospitality.

During the visit, the delegates will meet members of local chambers of commerce and key corporations to explore business opportunities, leveraging Hong Kong’s super-connector role linking China and the world. A business lunch will take place at the Park Hyatt Saigon Hotel in HCMC on August 2.

Dr. Peter K N Lam, HKTDC chairman, said that the purpose of this visit is to grow the bond between Vietnam and Hong Kong while simultaneously contributing to the broader aim of strengthening economic ties between Hong Kong and ASEAN.

As 2024 is the ASEAN-China year of people-to-people exchanges, this visit carries extra importance. Since its establishment in 1966, the HKTDC has prioritized building connections between Hong Kong and the world through business and trade.

This translates into exploring new collaborative opportunities between Vietnam and Hong Kong to strengthen economic ties, with the ultimate goal of mutual prosperity and economic development.

Hong Kong, as an international finance, trade, investment and cultural exchange hub bridging mainland China and the world, is looking to build upon the close relationship between mainland China and Vietnam by providing opportunities for Vietnamese businesses to reach the mainland market.

Vietnam and Hong Kong maintain a strong economic and trade relationship, which Hong Kong wants to reinforce with this visit. In 2023, Vietnam was Hong Kong’s fifth-largest export market and its largest in ASEAN; Hong Kong’s seventh-largest trading partner and second-largest in ASEAN; and Hong Kong’s eighth-largest import market and third-largest in ASEAN.

The trade visit will facilitate discussion on synergies between Hong Kong and Vietnam and how to enable Vietnamese businesses to leverage Hong Kong’s dynamic start-up ecosystem and in new sectors of growth, such as innovation and technology, sustainability, and green finance. These discussions will also look at market entry strategies and opportunities for outbound investments by Hong Kong businesses.

The visit to Vietnam builds on the success of previous ASEAN missions to Singapore, Malaysia, and Indonesia in 2023, and Thailand in 2022.

It is part of a wider mission to ASEAN taking place from July 28 to August 2, during when the Hong Kong delegation will also visit Laos and Cambodia to strengthen trade and economic cooperation and cultural exchange between ASEAN and Hong Kong.

Opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area through mutually beneficial collaboration under the Belt and Road Initiative will also be explored.

ASEAN is Hong Kong's second-largest trading partner in merchandise, with a total trade volume of $145 billion in 2023.