Webinar looks to bolster Hong Kong-Vietnam partnership amid COVID-19
A webinar entitled “Revival under the ‘New Normalcy’: Hong Kong-Vietnam Partnership” was held recently to seek ways to bolster trade cooperation and investment between Vietnam and Hong Kong (China).
Hanoi (VNA) – A webinar entitled “Revival under the ‘New Normalcy’: HongKong-Vietnam Partnership” was held recently to seek ways to bolster trade cooperationand investment between Vietnam and Hong Kong (China).
Theevent, jointly held by the Ministry of Industry and Trade of Vietnam and the Commerceand Economic Development Bureau (CEDB) of Hong Kong, was to help businesses ofthe two sides connect, find cooperation chances and ease negative impacts ofCOVID-19.
Speakingat the event, Deputy Minister of Industry and Trade Tran Quoc Khanh underlinedthat the holding of the webinar amid the COVID-19 pandemic is necessary toshare difficulties and seek solutions and orientations to support trade and investment activities of Vietnamese and Hong Kong firms.
HongKong is an important partner of Vietnam and the two sides have ample room tostep up cooperation and tap on advantages of each economy in the coming time,especially advantages Vietnam has gained from free trade agreements and its population of 100million people, Khanh said.
Ina bid to further support the business communities of both sides,particularly Vietnamese firms, to quickly recover and capitalise on chances inthe “new normalcy”, he suggested Hong Kong sign an agreement on enhancing theVietnam-Hong Kong cooperation and ease visa requirements for investors andentrepreneurs from Vietnam.
Atthe event, participants discussed and shared business opportunities at the marketsof Vietnam and Hong Kong, along with the transition role of Hong Kong forVietnam’s exports, and introduced promotion policies, new technologies andinformation platforms serving businesses of the two sides.
Theyalso put forward information technology applications for coping with COVID-19and taking advantages of business chances in Vietnam, Hong Kong and the GreaterBay Area (GBA), which comprises Guangdong, Hong Kong and Macau.
HongKong is currently the seventh largest trade partner of Vietnam.
Inthe first eight months of 2021, two-way trade turnover hit 8.4 billionUSD, rising 16 percent compared to the same period last year. Vietnam shippedproducts worth 7.4 billion USD to Hong Kong, up 12.2 percent.
Interms of investment, as of the end of August, investors from Hong Kong had registered to pour more than 27 billion USD into Vietnam in such fields as manufacturingand processing, energy, garment-textile, footwear and real estate./.
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Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
At the event (Photo: VNA) 
