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Binh Phuoc seeks to beef up investment cooperation with Hong Kong

A delegation from the southern province of Binh Phuoc led by Secretary of the provincial Party Committee Nguyen Manh Cuong paid a working trip to Hong Kong from April 11-12 to seek stronger partnership with China’s special administrative region.
Binh Phuoc seeks to beef up investment cooperation with Hong Kong ảnh 1An overview of the Binh Phuoc-Hong Kong investment promotion conference (Photo: VNA)
Hong Kong (VNA) – A delegationfrom the southern province of Binh Phuoc led by Secretary of the provincial Party Committee Nguyen Manh Cuong paid a working trip to Hong Kong from April 11-12 to seek strongerpartnership with China’s special administrative region.

Receiving the delegation on April 11, Secretaryfor Commerce and Economic Development of Hong Kong Algernon Yau underlined his impression atthe dynamic development of Vietnam during his visit to the country in January, andhighly valued the partnership between Hong Kong and Vietnam.

He revealed that he will return to Vietnam duringhis trips to Southeast Asian countries in the time to come.

Cuong briefed the host on the socio-economic situation of Binh Phuoc and its orientations in attracting foreign investment. Hesaid that Binh Phuoc is one of the localities with the highest GDP growth ratein the country.

He said that there are only a few projectsinvested by Hong Kong investors in the province, underlining that the with variouspolicies to attract foreign investors and strong growth, Binh Phuoc offers great investment opportunities to foreign investors, including those from HongKong.

Later the same day, an investment promotionconference was held to introduce the potential of Binh Phuoc to Hong Konginvestors and businesses.

Addressing the event, Vietnamese Consul Generalin Hong Kong Pham Binh Dam said that for many years, Hong Kong has been thefifth largest investor and eighth biggest trade partner of Vietnam. Two-way trade reached about 33 billion USDin 2022, up 16% year on year, he noted, adding that Vietnam offers great investmentand business opportunities to Hong Kong.

Vice Chairman of theprovincial People’s Committee Huynh Anh Minh said that Binh Phuoc has animportant role in the East-West economic corridor, with great potential forindustrial development, meeting requirements from Hong Kong investors.

Executive Deputy Chairman of the Federationof Hong Kong Industries Anthony Lam suggested the Vietnamese Governmentupgrade the infrastructure system in not only major cities such as HoChi Minh City and Hanoi but also in their nearby localities, as infrastructure playsan important role in turning Vietnam into a world production hub in the future.

With a population of about 100 million,Vietnam has good conditions to become an industrial country, he said, revealingthat in late May and early June, the federation will send a delegation toVietnam to seek investment opportunities.

Concluding the conference, Cuong said that theprovince plans to call for investment in areas of industrial park development, golf course, hotel and housing projects, and manufacturing-processingindustry.

At a meeting with Deputy ExecutiveDirector of Hong Kong Trade Development Council (HKTDC) Patrick Lau onApril 12, the Binh Phuoc leader introduced the locality’s strengths and plansto construct highways to promote transport development, serving economicgrowth.

Patrick Lau said that the HKTDC, which specialisesin organising Hong Kong's trade fairs, is willing to support the connectionsbetween the two sides and create cooperation opportunities for Hong Kong firmsand their Vietnamese partners.

Within the visit’s framework, Cuong alsohad meetings with Longboom and Swire financial groups of Hong Kong./.
VNA
#China’s special administrative region #Binh Phuoc #Hong Kong #GDP growth #Hong Kong investors #Vietnam #Vietnam news #Vietnam News Agency

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