Hong Kong investors eyeing to Viet Nam
Viet Nam ’s competitive labour force and its competitiveness as a manufacturing base, particularly for garments and electronics, have drawn attention from Hong Kong businessmen, Peter Woo Kwong-ching, Chairman of the government-affiliated Hong Kong Trade Development Council (TDC) was quoted by the newspaper as saying.
Woo led a 17-member Hong Kong business delegation to Viet Nam from June 18-21 in order capture the fresh business opportunities. The delegation, with representatives from Hong Kong 's clothing, jewelry, financial, logistics and electric appliance sectors, visited Ha Noi before going to Ho Chi Minh City.
The article also cited a TDC study on Viet Nam , saying that light-industry manufacturing and real estate, such as hotels and commercial and residential buildings, seem to be Hong Kong investors' favourites, accounting for over 75 percent of Hong Kong FDI between 1998 and 2005.
Among Hong Kong investors who are interested in Viet Nam , noteworthy is the Hong Kong-listed automobile equipment manufacturer Zhongda International Holdings. The company is setting up its first overseas plant for the production of truck chassis and special purpose vehicles in a 60-million USD joint venture with the state-owned vehicle manufacturer, Viet Nam Motors Industry.
The joint venture is designed to have an annual production capacity of 5,000 buses, 20,000 framed chassis with engine and 10,000 bare chassis, the article said.
Trade between Viet Nam and Hong Kong in January-September, 2006, grew 19.5 percent to 2.1 billion USD. In the same period, Viet Nam absorbed more than 600-million USD foreign direct investment (FDI) from Hong Kong , which was the largest among all foreign investments in the country.-(VNA)
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