Hong Kong FTA to boost investment

Vietnam is expected to become a haven for investors from Hong Kong once the ASEAN-Hong Kong Free Trade Agreement comes into force next year. Paul Chan, financial secretary of the government of the Hong Kong Special Administrative Region (HKSAR), said, “Hong Kong and the 10 member states of the ASEAN – including Vietnam – signed a free trade agreement (AHKFTA) and a related investment agreement last November. The agreements, taking effect in January, will undoubtedly boost trade and investment ties between Hong Kong, Vietnam, and the other nations of the region.” Hong Kong and Vietnam enjoy good and long-standing economic relations and the ties have only grown stronger. In 2017, Vietnam was Hong Kong’s 10th largest trading partner, while Hong Kong was Vietnam’s ninth largest trading partner. Bilateral trade in goods reached $18.1 billion during the year, making Vietnam Hong Kong’s fourth largest trading partner among the ASEAN economies.

hong kong fta to boost investment
                                            Hong Kong FTA to boost investment, photo: shutterstock