On Tuesday (December 17), business leaders gathered at the Guangdong-Hong Kong-Macao Greater Bay Area Investment & Business Forum in Ho Chin Minh City, Vietnam. The event was organised between chambers of commerce and investment promotion agencies from Hong Kong, China and Vietnam.
“With a population of nearly 10mn people and a growing middle class, Ho Chi Minh City is a large market with great potential for foreign businesses. Investors have the opportunity to cooperate in many fields such as finance, green economy, e-commerce, logistics, manufacturing, and science and technology,” explained the vice chairman of Ho Chi Minh City People’s Committee Vo Van Hoan. He highlighted that the city had a GDP growth of 7.17% in 2024 and contributed 27% of the national budget.
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“This committee is dedicated to creating the right conditions for Chinese businesses to invest and develop sustainably in Ho Chi Minh City,” he added.
The chairman of the Chinese Chamber of Commerce in Hong Kong Dr. Jonathan Choi welcomed a closer relationship between the two cities.
“By coming through Hong Kong, Vietnamese businesses can easily and more effectively access the GBA market as well as other regions in mainland China, while taking advantage of the region’s position as a global financial centre, free economic environment, strong legal system and professional services,” said Choi. The Guangdong-Hong Kong-Macao Greater Bay Area Entrepreneurs Alliance (GBA) helped organise the forum.
“By taking advantage of GBA’s technology and Vietnam’s dynamic labour force, we can expect to deploy more collabroative projects in areas such as AI and advanced manufacturing, and green technology, propelling our economies towards a future of innovation and development,” he added.
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By GlobalDataAccording to figures from Vietnam’s Ministry of Planning and Investment, investment from Hong Kong into Vietnam reached $2.16bn in the first seven months of 2024. Investment from mainland China reached $1.64bn.
China was the country with the most newly licensed projects in Vietnam, making up 28.3% in total. It was also the third for FDI in Vietnam.
Inflows have been shifting towards more high-tech industries, industrial production, electronics, the auto sector and green energy. In February, Vietnam announced their national semiconductor strategy for which they are seeking increased collaboration with foreign investors.
