Addressing the inauguration ceremony, HKVCC Chairman Jonathan Choi said the chamber’s establishment is a necessary step following the foundation of the Hong Kong-Vietnam Business Association.

The chamber will act as a bridge, helping both sides’ businesses to seek opportunities for promoting trade and economic cooperation between Hong Kong and Vietnam, he affirmed.

Vietnamese Consul General in Hong Kong and Macau Pham Cao Phong stressed that after more than 20 years of renovation, Vietnam has become an attractive and safe destination for foreign investors. He attributed the advantages to Vietnam’s high economic growth rate and its young and skilled population..

Trade and investment between Vietnam and Hong Kong have been booming in recent years, he said. Bilateral trade turnover stood at more than US$3 billion in 2007, a year-on-year increase of 43.7 percent. In the first nine months of this year, the figure reached US$2.72 billion, up 25 percent as compared with the same period last year and is expected to be 3.5-US$3.6 billion for the whole year, he added.

Hong Kong is Vietnam’s seventh largest investor with US$6.3 billion worth of investment in 494 projects.

Consul General Phong expressed his hope that bilateral trade and investment would be promoted with the establishment of the HKVCC.

A workshop on investment in Vietnam was held right after the opening ceremony, attracting Hong Kong businesses, including those operating in real estates and securities markets.