Viet Nam, Macao discuss investment, trade ties

Friday, Apr 17, 2015 08:00

Viet Nam's main exports to Macao were rice, coffee, and frozen foods. — VNS Photo Trong Dat

HCM CITY (Biz Hub) — Business executives from 60 companies in China's Macao Special Administrative Region yesterday met with around 60 of their HCM City counterparts to explore business opportunities and compare notes.

Nguyen The Hung, deputy general director of the Viet Nam Chamber of Commerce and Industry (VCCI) in HCM City, said trade between Viet Nam and China had grown rapidly in the last few years to US$58.7 billion last year, with China enjoying a surplus that had soared by 21.8 per cent to nearly $29 billion.

Irene Va Kuan Lau, executive director of the Macao Trade and Investment Promotion Institute, said bilateral trade had been worth more than $34 million last year.

Viet Nam's main exports to Macao were rice, coffee, and frozen foods, she said.

Many Macao investors had invested in hotels and in production and entertainment in Viet Nam, she said.

Macao was strengthening economic ties in the region to become an international tourism and entertainment centre and a trade and services hub, she said.

Macao had deep links with Portuguese-speaking countries and welcomed Vietnamese investors to utilise its advantages to seek opportunities in such countries, she said.

Macao had a low and simple taxation regime, which enabled businesses flourish, she added.

Dang Xuan Quang, deputy director of the Foreign Investment Agency, spoke about the investment environment in Viet Nam, saying the country had made efforts to improve it in recent years.

From July, with the amended Investment Law and Corporate Law taking effect, the investment environment would improve further, he promised.

Viet Nam wanted to attract foreign investment in sectors like technology, infrastructure, supporting industries, agriculture and rural development, services, and property, and would offer incentives to encourage investment, he said.

Hung of the VCCI said there was more room for Viet Nam and China, Macao in particular, to improve investment and trade ties.

The event was organised by the VCCI and the Macao ASEAN International Chamber of Commerce. — VNS

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