On December 13, HM&P's representative, our Managing Partner Nguyen Van Phuc, was honored to participate in a luncheon with the Hong Kong Secretary for Financial Services and the Treasury: "Hong Kong: A Financial Gateway Connecting Vietnam to the Greater Bay Area, Asia and the World".
View of the luncheon with the Hong Kong Secretary for Financial Services and the Treasury
The program was jointly organized by the Vietnam Confederation of Commerce and Industry - Ho Chi Minh City Branch (VCCI-HCM), the Hong Kong Economic and Trade Office in Singapore (HKETO) and the Hong Kong Trade Development Council (HKTDC). The program was attended by Mr. Vo Tan Thanh, Vice President of VCCI, Mr. Tran Ngoc Liem, Director of VCCI-HCM. On the Hong Kong side, Mr. Christopher Hui, Hong Kong Secretary for Financial Services and the Treasury, Mr. Owin Fung, Director of the Hong Kong Economic and Trade Office (HKETO) and many representatives of enterprises and business associations from Vietnam and Hong Kong attended the program.
View of the luncheon with the Hong Kong Secretary for Financial Services and the Treasury
At the program, Mr. Vo Tan Thanh shared the following: "Ho Chi Minh City. HCMC is a national financial center of Vietnam with the potential to become a regional and global financial center". In fact, from March 3, 2020, Ho Chi Minh City Financial Center HCMC has been assessed and ranked as a secondary financial market on the Global Financial Centres Index (GFCI).
At the same time, he also evaluated the Hong Kong market: "Hong Kong is not only an Asian cultural and financial icon, but also one of the largest financial centers in the world (Top 4 GFCI). Hong Kong has the strength to be a gateway for financial connectivity between China and the region and the world through its Belt and Road initiatives; "Hong Kong - Guangzhou - Macau Greater Bay Area". In addition, Hong Kong has built an open and flexible ecosystem. Therefore, with these factors, Hong Kong will be a potential and strategic cooperation partner for Ho Chi Minh City".
Mr. Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury, said at the event
Mr. Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury, said at the event: "Vietnam has long been our major trading partner. Last year, Vietnam was our seventh largest trading partner in terms of goods, reaching $32.7 billion. Hong Kong is also the fifth largest foreign investor in Vietnam. We have had a comprehensive double taxation avoidance agreement with Vietnam for nearly 15 years since 2008." He also affirmed that Vietnam is one of the fastest growing and most promising economies in Southeast Asia, with a large and young population and a dynamic economy.
Mr. Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury and Mr. Vo Tan Thanh, Vice President of VCCI
At the same time, Mr. Christopher Hui shared that Hong Kong is best positioned to connect Vietnam to the Guangdong-Hong Kong-Macau Greater Bay Area (GBA). The GBA has a population of more than 86 million people and a GDP of more than US$1.9 trillion, with a strong and diverse industrial base, including advanced manufacturing, innovation and technology, trade and logistics, financial services, and more. will provide opportunities for an integrated and large market for Vietnamese financial institutions and enterprises.
Representatives of the Hong Kong – Vietnam delegations and the Board of Directors of VCCI
Attending the conference, our Managing Partner Nguyen Van Phuc exchanged views with senior officials from VCCI, HUBA, as well as officials and representatives from Hong Kong. At the same time, HM&P has heard and updated useful information on cooperation opportunities in the field of financial services, professional and high-end banking in Hong Kong, and ways for Vietnamese enterprises to take advantage of Hong Kong's comprehensive financial services to expand their business internationally.
Managing Partner Nguyen Van Phuc discussed with delegates
In addition, the program is an opportunity for HM&P to exchange, connect with participants, grasp the needs of Vietnamese - Hong Kong businesses in the field of finance and banking, a key area of operation and also the strength of HM&P. The conference is an opportunity for HM&P to exchange, listen, improve and enhance the quality of its legal services to meet the leading financial institutions of Asia (Hong Kong) and Vietnam.
Managing Partner Nguyen Van Phuc
HM&P looks forward to becoming a companion and reliable legal partner of Vietnamese - Hong Kong enterprises in the process of cooperation and business expansion of enterprises in Vietnam and Hong Kong. The conference also opened many opportunities and was the starting point for cooperation of many parties, including HM&P.