Ho Chi Minh City and the Greater Bay Area enhance collaboration in a variety of sectors

The Ho Chi Minh City People's Committee, in collaboration with the Chinese General Chamber of Commerce in Hong Kong (CGCC), the Hong Kong-Vietnam Chamber of Commerce (HKVCC), and other relevant organizations, organized the Ho Chi Minh City – Guangdong-Hong Kong-Macau Greater Bay Area Investment and Trade Forum on the afternoon of December 17.

The City aspires to become a regional economic-financial hub, a globally attractive destination, and a development engine for the country, according to Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan. The objective of the city is to draw the attention of international economic corporations and financial institutions.

Ho Chi Minh City acknowledges the necessity of international cooperation and support, including from the Greater Bay Area, in addition to its own attempts to enhance development policies, infrastructure, technology platforms, and human resources, in order to accomplish this.

The Vice Chairman emphasized that the forum presents a significant opportunity to fortify the cooperative relationship between Ho Chi Minh City and the GBA (Guangdong-Hong Kong-Macau) in critical potential sectors, including finance, investment, green economy, science and technology, import-export, e-commerce, manufacturing, logistics, agriculture, and food production. Building on the long-standing friendship between Vietnam and China, as well as international partnerships, it is anticipated that these sectors will complement each other, particularly in economic, trade, and investment activities.

According to the Metropolis' leadership, the forum will serve as a platform for businesses on both sides to exchange practical business solutions, comprehend investment policies, and promote effective investment and economic cooperation. Additionally, it will allow businesses to explore and update market trends.

The Ministry of Planning and Investment's data indicates that Ho Chi Minh City is the location of the most Chinese investment projects in Vietnam, with a total of 731 projects.

Dr. Jonathan Choi, Chairman of the Chinese General Chamber of Commerce in Hong Kong and Chairman of Sunwah Group, led a delegation of 60 business leaders and experts from a variety of sectors in the GBA. He underscored the significance of the forum as a chance for Chinese enterprises to engage in cooperative opportunities and gain a better understanding of Vietnam's business environment.

"While certain members of the delegation have already made investments in Vietnam, others are currently investigating potential opportunities." Dr. Choi expressed his confidence that the attractiveness and abundance of business and investment opportunities in this S-shaped country will impress them.

Ms. Tran Thi Hai Yen, Director of the Southern Investment Promotion Center under the Ministry of Planning and Investment, observed that Ho Chi Minh City and neighboring provinces, including Dong Nai, Binh Duong, and Ba Ria-Vung Tau, are presently hotspots for foreign investment.

The strategic location, well-developed transportation infrastructure, and abundant workforce of these regions have attracted substantial FDI inflows into sectors such as industrial production, high technology, logistics services, and renewable energy.

The Vietnamese government and local authorities are supporting enterprises, enhancing the business environment, and instituting investment incentive policies. Ms. Yen stated that these endeavors contribute to the sustainable economic development of the region and increase investor confidence.

According to Mr. Jesse Choi, Chairman of the Guangdong-Hong Kong-Macau Greater Bay Area Business Alliance in Vietnam (GBA Alliance), the GBA Alliance will provide support to Vietnamese enterprises in overcoming obstacles, implementing cutting-edge technologies, and broadening their global market presence.