Vietnam - The Next Growth Engine in ASEAN

The workshop attracted the participation of about 200 delegates, including leaders of banks, financial groups, representatives of management agencies, businesses, investors from Hong Kong, mainland China and foreign investors.

Ms. Le Duc Hanh, Consul General of Vietnam in Hong Kong, delivered a keynote speech at the workshop. Photo: VNA

Speaking at the conference, Vietnamese Consul General in Hong Kong, Ms. Le Duc Hanh, emphasized: “Over the past four decades, Vietnam has made a strong transformation, from a country devastated by war to a middle-income economy and an important link in the international integration chain. In 2024, Vietnam became the third largest economy in Southeast Asia with a Gross Domestic Product (GDP) exceeding 400 billion USD, ranking 32nd in the world. In the first 6 months of 2025, Vietnam's economy grew by 7.52% over the same period last year - the highest level in the same period since 2011 and leading the ASEAN region. The target growth rate for the whole year is 8%. Vietnam is currently in the top 20 global destinations for attracting foreign direct investment and international trade".

Consul General Le Duc Hanh identified Vietnam's new growth drivers in the coming period, including: science and technology , innovation and digital transformation, a dynamic private sector, institutional reform, governance modernization, large-scale breakthrough projects and deep international integration.

Ms. Le Duc Hanh particularly emphasized the economic cooperation relationship between Vietnam and Hong Kong, saying that Hong Kong is the fifth largest investor in Vietnam and a strategic bridge between the Guangdong-Hong Kong-Macau Greater Bay Area and Southeast Asia by taking advantage of the “one country, two systems” model and its super-connected location with mainland China.

Ms. Vu Thi Thuy, Deputy Consul General, Head of Vietnam Trade Office in Hong Kong (sitting second from the left) at the discussion session. Photo: VNA

Speaking at the discussion, Ms. Vu Thi Thuy, Deputy Consul General, Head of the Vietnam Trade Office in Hong Kong, emphasized that Vietnam is currently issuing many preferential investment policies, such as corporate income tax exemption and reduction for priority projects, land support, transparent and convenient investment procedures, and benefits from a large network of new-generation free trade agreements. Ms. Vu Thi Thuy affirmed that with continuous efforts to improve the investment environment, enhance institutions, develop human resources and promote green growth, Vietnam is committed to accompanying international businesses on the journey of sustainable and long-term development.

Delegates at the workshop assessed that Vietnam has outstanding economic potential, maintaining strong and breakthrough growth momentum, even during the crisis and COVID-19 pandemic. The process of transforming the economic structure towards modernization, with a high proportion of services and the advantage of a golden population, has helped Vietnam become an attractive and reliable destination for foreign investors, playing the role of a new growth engine in ASEAN. Delegates also expected that Vietnam and Hong Kong will continue to promote cooperation in potential areas such as innovation, finance, logistics, green economy and high-quality human resource development.

A representative of the Hong Kong Monetary Authority shared that the workshop is part of a series of events on ASEAN, reflecting Hong Kong's priorities for the region. The workshop also aims to prepare for a visit to Vietnam to explore cooperation and investment opportunities by a delegation of Hong Kong businesses and banks in the fields of finance, science and technology led by the leaders of the Banking Association and the Federation of Hong Kong Industries, scheduled to take place in September.

According to baotintuc.vn

Source: https://huengaynay.vn/kinh-te/viet-nam-dong-luc-tang-truong-tiep-theo-trong-asean-155777.html