Hong Kong businesses will invest heavily in infrastructure and technology in Vietnam

Hong Kong businesses will invest heavily in infrastructure and technology in Vietnam

According to Margaret Fong, director general of the Hong Kong Trade Promotion Department, free trade agreements will help boost the flow of Hong Kong's investment capital into Vietnam not only in production projects but also in infrastructure, high technology, financial services.

According to Margaret Fong, director general of the Hong Kong Trade Promotion Department, free trade agreements will help boost the flow of Hong Kong's investment capital into Vietnam not only in production projects but also in infrastructure, high technology, financial services.

What do you think about the opportunities for cooperation and investment of Hong Kong businesses in Vietnam today?

The trade agreement between Hong Kong and ASEAN has been signed and will take effect early next year. This is a very important opportunity for Hong Kong businesses, as Vietnam is the 6th largest economy in ASEAN and ASEAN is now Hong Kong's second largest trading partner (in 2016) and fourth in service trade (2015).

There are two reasons for Hong Kong businesses to be interested in cooperation and investment in Vietnam at the moment. First of all, Hong Kong is very excited about the new opportunities that will emerge, especially the opportunities from the signing of free trade agreements. In addition, we come to Vietnam at this time not only expressing the eagerness to invest, but also to help Vietnamese businesses to go out to international markets and build prosperous future.

Representatives of 60 Hong Kong businesses are present in Vietnam to explore opportunities for cooperation and investment. What areas are they interested in?

Vietnam is always considered as a destination for manufacturing industries, so this time, Hong Kong businesses plan to visit some industrial parks in HCM City and Binh Duong. The two sides will jointly evaluate the possibility of production cooperation and investment expansion through research, exploration and market shaping.

Notably, in infrastructure projects and the production of high-tech products, Hong Kong businesses will explore opportunities for business and investment cooperation and how businesses can benefit from both best advantages.

Finance and technology are areas where Vietnam encourages development. Meanwhile, Hong Kong businesses are going deeper into services and technology, such as technology for finance, biotechnology, and specialized services such as law, accounting and consulting.

In the opposite direction, what opportunities do Vietnamese businesses have when investing in Hong Kong?

Hong Kong is open to all sectors, there is no limit to the amount of property or percentage ownership of non-Hong Kong shareholders or any other aspect. There is no discrimination between the Hong Kong companíeand the foreign companies.

In Hong Kong, businesses only pay taxes when it is profitable. Currently, the tax rate is 16.5%, but it will drop to 8.25% for the first profit of $250,000 made by the company. For newcomers to Hong Kong, this will be a big advantage.

Vietnamese enterprises are very strong in the field of food and beverage and this industry in Hong Kong is very exciting. Vietnamese businesses can come as distributors or open catering establishments. Another area I can recommend is related to warehousing and transportation because Hong Kong is an international shipping and logistics center.

 

According to baodautu.vn

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