On June 25th, 2018, at the Investment Promotion Center for Central Vietnam (IPCC) - Foreign Investment Agency, Mr. Trinh Minh Van - Director of IPCC together with the representatives of IPCC’s divisions had a meeting with KnB Trading Company (Hong Kong).
Mr. Kevin Jang – CEO of KnB (right) attended the meeting
Speaking at the meeting, Kevin Jang expressed his desire to invest in a factory producing Led lights with an initial scale of square metre 10,000 and total investment of US$ 1 million. "Over the past several years, with the advantage of geographic location, infrastructure synchronization, and increasingly skilled workforce, Vietnam has became an ideal investment destination for companies from Northeast Asia. We have surveyed many places in Southeast Asia and decided to invest in Vietnam, especially in the Central region, "- said Mr. Jang.
As a dynamic member of ASEAN, Vietnam is trying to negotiate and accelerate progress to the signing of a trade agreement between Hong Kong and ASEAN.This is an important opportunity for Hong Kong enterprises, because Vietnam is the sixth largest economy in ASEAN and ASEAN is the second largest partner of Hongkong in commodity transaction (2016) and the fourth largest partner of Hongkong in services transaction (2015).
Ms.Margaret Fong, Excutive Director of Hong Kong Trade Development Council (HKTDC) shared with newspapers"Finance and technology are areas which Vietnam has encouraged to develope. Meanwhile, Hong Kong businesses have focused in services and technology, such as technology for finance, biotechnology, and specialized services such as Law, Accounting and Consulting."
According to data from the Foreign Investment Agency, in the first five months of 2018, Hong Kong ranked third in foreign investment in Vietnam with 51 new projects with the total registered capital of US$ 1.1 billion ( reaching US$ 18.7 billion with 1,322 projects as accumulated up to May 2018).
Ngoc Phuong (IPCC)