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Vietnam, Hong Kong seeing more room for stronger development

Hannah Nguyen Hannah Nguyen

ngminhphuong26@gmail.com

April 30, 2021 | 09:24

As Hong Kong (China) has recovered its stability, the region’s relations with Vietnam are seeing more room for stronger development in trade, investment, tourism, and yacht industry, said Chief Executive of Hong Kong Carrie Lam.

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Vietnam, Hong Kong seeing more room for stronger development
Vietnamese Consul General to Hong Kong Pham Binh Dam (L) and Chief Executive of Hong Kong Carrie Lam at the reception. Photo: VNA

According to VNA, Lam made the statement while receiving Vietnamese Consul General to Hong Kong Pham Binh Dam on April 29 as he began his tenure in the Chinese special administrative region.

At the reception, the host said in 2020, trade between the two economies reached over USD 24 billion with Vietnam being the third biggest trade partner of Hong Kong in ASEAN.

Lauding Vietnam’s effective COVID-19 prevention and control, Lam said it is time for Vietnam and Hong Kong to seriously consider establishing a bilateral travel mechanism.

Informing her guest on Hong Kong’s quarantine-free travel bubble with Singapore, she expressed her hope for negotiations between Hong Kong and Vietnam to take place so that the two can set up a similar mechanism in line with their conditions and situations. Lam believed it will help their residents travel easier.

For his part, Dam praised Lam’s leadership role toward developing Hong Kong into a prosperous city and an important international financial hub as well as her success in restoring the local social order and controlling the pandemic in the past year.

Speaking highly of the leader’s determination and commitment to establishing a travel corridor with Vietnam, Dam stated although thorough consideration is needed, it is a suitable time for seeking measures to ease cross-border travel restrictions, facilitating businesses and bilateral exchanges.

The diplomat took the occasion to thank the Hong Kong administration for relaxing regulations on granting student visa to Vietnam as well as committing to making similar relaxation regarding other types of visa.

He said he believes under Lam’s leadership, Hong Kong’s multifaceted cooperation with Vietnam will reap more fruitful outcomes in the time to come.

Vietnam is currently Hong Kong’s third largest trade partner in ASEAN, with bilateral trade in 2019 rising 10 percent year on year to about USD 20 billion. In 2020, trade between the two economies reached over USD 24 billion.

Jinko Solar Technology Ltd of Hong Kong, one of the largest and most advanced manufacturers of solar panels in the world, on March 31 was granted a licence for investing in a photovoltaic cell technology project worth USD 500 million in the northern coastal province of Quang Ninh.

As scheduled, the project will officially become operational in late October this year. It is expected to earn nearly USD 1.3 billion in annual revenue and create over 2,000 jobs for labourers.

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Hannah Nguyen