Unlocking Opportunities: Five Key Areas for Vietnam-Hong Kong Collaboration

With the theme “Building a Green, Innovative and Connected Belt and Road Initiative”, the Summit focused on exchanging ideas and proposals to expand trade and investment among countries, promote green and inclusive growth, enhance connectivity in transportation and logistics, foster financial and trade cooperation, encourage people-to-people exchanges, and advance scientific and technological innovation.

The delegates also emphasized the need for closer coordination between governments and the business community, and the development of a new generation of business leaders who are not only proficient in business but also socially responsible. The Summit featured business networking sessions and an exhibition program with numerous booths showcasing the potential and achievements of various economies, as well as specific investment projects. Many projects and cooperation agreements were signed during the Summit.

In his opening remarks, the Chief Executive of the Hong Kong Special Administrative Region, John Lee, highlighted Hong Kong’s role as an important bridge between China and the world, its vision as a “super-connector and super-facilitator,” and expressed his desire to continue expanding cooperation with other countries in various fields, aiming towards a multi-faceted, globally connected, and green economy.

Deputy Prime Minister Nguyen Hoa Binh was a special guest at the Summit and delivered a keynote speech at the Opening Session.

Vietnam: An Open Economy, Advocating Multilateralism

In his speech, the Deputy Prime Minister commended the contributions of the Belt and Road Initiative in promoting global economic connectivity and South-South cooperation. He also emphasized the focus of cooperation in the new phase, which includes ensuring stable, long-term, and nature-friendly economic growth, maintaining an open and inclusive global economy, and connecting the Belt and Road Initiative with regional and national development strategies.

The Deputy Prime Minister stressed the importance of ensuring a spirit of equal, open, and mutually beneficial cooperation, abiding by international law in implementing regional and global economic cooperation initiatives, contributing to the common goals of peace, prosperity, sustainable and inclusive development, and bringing a better life to all people.

The Deputy Prime Minister affirmed Vietnam’s commitment to an open economy, advocating multilateralism, respecting international law, and actively participating in various economic cooperation and connectivity initiatives, including the Belt and Road Initiative. Vietnam’s high-level leaders and China have agreed to promote the connectivity of the two countries’ development strategies and implement the Plan for Cooperation between the “Two Corridors, One Belt” framework and the Belt and Road Initiative.

Proposed Five Priority Areas

Leveraging the complementary strengths of the Vietnamese and Hong Kong economies, the Deputy Prime Minister proposed five priority areas where Hong Kong can contribute to implementing the agreements between the high-level leaders of the two countries.

First

, enhancing financial cooperation, especially in financial and securities services; sharing experiences in the digitization of the banking sector, developing regional and global financial centers, and establishing a voluntary carbon credit trading market.

Second

, further facilitating trade and the flow of goods, exploring the expansion of regional economic corridors, sharing information, coordinating trade promotion activities, and supporting businesses in market expansion.

Third

, promoting high-quality investment, particularly in new technology fields such as biotechnology, artificial intelligence, semiconductors, renewable energy, and smart cities to serve the process of digital transformation and green transition.

Fourth

, strengthening infrastructure connectivity, especially the development and connectivity of border gates and railways between Vietnam and China; Hong Kong’s capable enterprises are invited to participate in capital investment, technology transfer, and human resource preparation for large-scale, iconic transportation infrastructure projects in the Vietnam-China relationship.

Fifth

, promoting connectivity between friendly cities and people-to-people exchanges, facilitating connections between the people and businesses of the two sides, and boosting two-way tourism.

The Deputy Prime Minister also shared Vietnam’s notable achievements and development orientations, especially in economic restructuring associated with growth model innovation, digital transformation, and the implementation of three strategic breakthroughs in institutions, infrastructure, and high-quality human resources. He invited the business community to continue accompanying Vietnam on its new development journey and affirmed that the Vietnamese government always cares about and accompanies the business community.

The Belt and Road Summit is an important annual economic diplomacy event of the Hong Kong Special Administrative Region Government. First held in 2016, the Summit has played an increasingly significant role in promoting public-private dialogue and trade and investment cooperation among countries participating in the Belt and Road Initiative./.