Ho Chi Minh City an attractive destination for Hong Kong investors: confab

Vo Van Hoan, Vice Chairman of the People’s Committee of Ho Chi Minh City, said that strong growth has been seen in the partnership between the city and Hong Kong across all fields, especially economy, trade, investment and tourism.

Hong Kong is now one of the leading trade partners of Ho Chi Minh City, and ranking eighth among the 117 countries and territories investing in the locality.

As of the end of 2022, Hong Kong investors run 619 direct investment projects worth 3.23 billion USD in the city, accounting for 5.79% of the total FDI the city attracted in the year, mostly in manufacturing-processing and real estate.

Hoan underlined that Ho Chi Minh City has enjoyed stable growth. Last year, the city’s gross regional domestic product (GRDP) expanded 9.03% year on year, making up 22% of the country's GDP and 28% of the State budget. Its per capita GRDP in 2022 reached nearly 7,000 USD, double that of the country’s average.

He said that the city is focusing on reforming administrative procedures, promoting digital transformation and improving investment environment to attract more FDI and investors, including those from Hong Kong.

Cao Thi Van, Vice Director of the Investment and Trade Promotion Centre (ITPC) of the city, said that the city is not only a promising investment destination but also a gateway for businesses to reach other markets in Southeast Asia.

As the city is calling for investment to many large-scale projects in various fields, including urban infrastructure, innovation and hi-tech agriculture, this is a good time and a chance for foreign investors to invest in the city, he said.

Jonathan Choi, Chairman of the Hong Kong-Vietnam Chamber of Commerce, Chairman of Sunwah Group, Chairman of the Chinese Chamber of Commerce in Hong Kong and Chairman of the Guangdong-Hong Kong-Macau Greater Bay Area Entrepreneurs’ Union, said that Ho Chi Minh City is a dynamic and promising city with various advantages for stronger development in the future.

The Hong Kong-Ho Chi Minh City investment promotion conference attracted representatives from 60 businesses and experts in different fields from Hong Kong, manifesting the high level of interest in the city and high demand to explore the local investment and business environment and seek partnership in the city.

At the event, Hong Kong investors showed special interest in finance, real estate, urban infrastructure development and investment areas in the city.