PM calls for more investment from Hong Kong

Prime Minister Nguyen Tan Dung has called on Hong Kong businesses to intensify investment and trade with Vietnam, pledging to provide favourable conditions for their success in the country.

Addressing a round-table talk with Hong Kong financial investment organisations on April 20, right after his arrival in China’s special administrative area, PM Dung highlighted the growing trade and investment between Vietnam and Hong Kong .

Two-way trade reached US$3.5 billion in 2008, a 30% increase over 2007, and Hong Kong now has 500 FDI projects capitalised at US$6.5 billion in Vietnam.

PM Dung said the global economic-financial crisis has caused negative impacts to Vietnam's export, investment, employment, tourism and people’s life.

He told the investors that Vietnam had been re-structuring the economy towards a sustainable development, with special attention paid to industries that were friendly to environment.

He said Vietnam targets a growth rate of between 5-5.5% in 2009 and a higher rate in the next year.

Hong Kong investors expressed their approval of the Vietnamese Government’s solutions to cope with the impacts from the global economic crisis, including the promotion of production and export, stimulus packages targeting investment and consumption demand, tax cuts and measures to ensure social security and reduce poverty.

They noted that Vietnam’s healthy financial system and banks’ good liquidity will help the country cope with the financial crisis as well as attract more investment in this sector.

After the talks, PM Dung witnessed the signing of co-operation agreements between Vietnam’s State Securities Commission and Hong Kong’s Monetary Supervision Authority, and between the Ministry of Industry and Trade’s Department of Trade Promotion and Hong Kong ’s Trade Development Council. (VNA)

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