John Lee hails Hong Kong-Vietnam ‘synergy’ after 30 deals signed covering business, aviation

Lee said at the event that Hong Kong’s businessmen had long held a strong interest in opportunities in Vietnam, and encouraged Vietnamese companies to explore business cooperation with the city.

“Hong Kong is an ideal place for listing and other fundraising activities and with quality provision of different financial, legal and professional services can be Vietnam’s premier business partner to tap foreign markets,” he said.

“There are abundant opportunities for organisations and companies of both places to explore collaboration. The synergy between Hong Kong and Vietnam should be great.”

The deputy prime minister extended a welcome to the city leader and his 30-strong delegation who arrived in the Vietnamese capital the night before, and invited the Hong Kong business heavyweights to share advice on how Vietnam “can do better on our part”.

“We have been good friends for a long time, trusted partners for decades. It is shown by the high ranking of Hong Kong investment sums and scale in Vietnam, and Hong Kong’s contribution to Vietnam economic development,” Tran said.

Trade volume between Vietnam and Hong Kong stood at US$31.5 billion last year, making the nation the city’s seventh largest trading partner. Hong Kong has also been the fifth largest source of foreign investment in Vietnam on an accumulated basis.

The remaining 22 agreements with Vietnam were expected to be revealed in Ho Chi Minh City on Friday, the final day of the city leader’s trip to Laos and Cambodia, where his delegation had previously signed 12 and 13 agreements respectively.

With a total of 55 agreements exchanged in three countries over six days, the tally of the current trip is higher than the combined figures of MOUs in Lee’s two overseas trips last year.

There were 33 agreements signed during the city leader’s visit to Singapore, Indonesia and Malaysia last July, and 13 pacts were unveiled in his visit to the Middle East in February 2023.

Before the Thursday meeting, the city leader also sampled local cuisine at a Hanoi restaurant opened by a Hongkonger. He praised the fusion dishes as “full of surprise” and asked the owner to introduce more Hong Kong flavours to patrons in Hanoi.