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Deputy PM encourages Hong Kong investment in Vietnam

VOV - Vietnam and Hong Kong have great potential for promoting economic cooperation, said Deputy Prime Minister Truong Vinh Trong at a get-together with Hong Kong businesses on December 24.

Mr Trong, who visited Hong Kong from December 22-25, introduced his hosts to Vietnam’s advantages including political stability, richness in natural resources, an abundant and highly-educated young labour force, a large market of 84 million consumers and rapid development in the private economic sector.

Vietnam and Hong Kong should fully tap their potential for cooperation, since they are both members of the World Trade Organisation (WTO) and the Asia-Pacific Economic Cooperation Forum (APEC), said Mr Trong.

He said Vietnam and China are carrying out a series of cooperation projects under the “two corridors, one economic beltway” programme. He called on the Hong Kong-Vietnam Chamber of Commerce and Hong Kong businesses to increase mutually beneficial cooperation, especially in infrastructure construction and housing, and finance and banking services to balance two-way trade. In addition, the two sides should consider cooperating in terms of culture, tourism and personnel training to promote mutual understanding.

Two-way trade between Vietnam and Hong Kong hit more than US$3 billion between January-October 2008, an increase of 25.6 percent from a year earlier. The territory also poured US$330 million into 43 new and existing projects in Vietnam in the review period.

Currently, Hong Kong is Vietnam’s 7th largest foreign investor with 494 projects capitalised at US$6.32 billion.
 
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