Hong Kong - Advantages for Vietnamese investors

Historically, Hong Kong is not only a hot spot in Asian financial markets but also on a global scale. What makes Hong Kong the most important economic destination in international financial markets?

The attractiveness of Asia's economic gateway

Strategically located along the main sea route, Hong Kong is home to a huge amount of cargo for the whole world and one of Asia's finest transportation hubs. About 170 years ago, it was just a small fishing village off the coast of South China, it has now transformed itself into one of the world's largest trading entities in terms of value of goods, with total market turnover market to more than 32 trillion US dollars in 2020.

Hong Kong is one of the busiest container ports in the world

Hong Kong is a free port for all ships from all over the globe and its control policy on import, export and re-export is very popular among businesses, and is also one of the center ports serving Southeast and East Asia as well as China's economic gateway. Moreover, this land is very business-friendly and has the most modern and dynamic central seaport in Asia. This advantage, along with the opening of China, has made Hong Kong one of the bustling container ports, attracting countless foreign investors in general and Vietnam in particular.

A place that connects the global economy

Hong Kong has long been known as one of the freest economies in the world. Hong Kong's economy is externally oriented and heavily dependent on trade with the rest of the world. It has grown to become the 7th largest commodity trading market and the 7th largest importer and exporter in the world in 2020. According to the World Investment Report 2020 published by UNCTAD, FDI inflows in Hong Kong reached $ 1.867 billion in 2019 and is the fourth largest destination for investment flows globally. The main investment countries are China, British Virgin Islands, UK, Bermuda, USA, etc. According to the latest UNCTAD Global Investment Trends Monitoring announced on October 27, 2020, Global Foreign Direct Investment (FDI) decreased by 49% worldwide in the first half of 2020 compared to 2019, but Hong Kong's FDI continued to increase 22% amid a recuperating world economy’s slow recovery from the Covid-19 pandemic crisis.

Hong Kong - a place connects the global economy

Mr. Vu Dai Duong - Deputy Director of One IBC - a consulting group providing foreign business services, said: “Hong Kong will still attract foreign investors as well as Vietnam thanks to the beneficial factors such as: strategic location to help businesses penetrate into the Chinese market, its position as a free port, preferential investment policy system, good infrastructure and judicial security”. With abundant investment resources from all over the world, not only Asia, Hong Kong deserves the title of global economic intersection. So far, Hong Kong has signed eight free trade agreements (FTAs), making the trade between Vietnam and Hong Kong easier and more convenient.

Open a company in Hong Kong within 24 hours

Mr. Duong said that Hong Kong is one of the leading places in international trade, a center of high value-added services and a bridge to help Vietnamese businesses enter one of the largest "factories" in the world which is China. Many of the world's largest economies tend to be based in Asia, which puts Hong Kong in a solid geographic position. Moreover, Hong Kong has a reputable and developed economy and financial and banking system, a prerequisite for sustainable development when Vietnamese investors establish businesses here.

Vietnamese enterprises have shifted to establish companies in Hong Kong

In addition, Hong Kong also converges many strengths that Vietnamese investors can consider. Over the past two decades, Hong Kong has passed Singapore to become the 4th largest financial center in the world, only after New York, London and Shanghai, as well as an attractive market of Vietnamese investors. This special zone has the 4th largest stock exchange and the second largest IPO market in the world by 2020, and is one of the most concentrated corporate headquarters in the world. Asia - Pacific region. On the other hand, the establishment of a company here is quick, easy and cost-effective. With the support of One IBC, Vietnamese businesses can immediately own companies here within 24 hours, without even having to be present in Hong Kong.