Chief Executive Carrie Lam (fourth left) and Thai Deputy Prime Minister Somkid Jatusripitak (fourth right) officiate at the opening ceremony of the Hong Kong Economic & Trade Office in Bangkok. (Photo: news.gov.hk) Bangkok (NNT/VNA) - The Hong Kong Special Administrative Region has opened an economic and trade office in Thailand on the occasion of the visit by the Chief Executive of Hong Kong. The Ministry of Commerce has organized a partnership event for Thailand and Hong Kong to show Thailand's acknowledgment of Hong Kong as a strategic link for trade and investment in the region and with China. Deputy Prime Minister Somkid Jatusripitak reiterated the importance of Hong Kong as a major economic powerhouse, following China's designation of Hong Kong, Macau, Shenzhen and Guangdong as special development zones with production bases for manufacturing, technology, innovation, finance and services. The close proximity of the provinces to ASEAN and CLMVT countries will enhance … [Read more...] about Hong Kong opens economic and trade office in Thailand
Hong kong economic and trade office
Hong Kong economy caught in US China trade crossfire
The storm winds of the recent trade war between the United States and China have settled in a truce for now, but the weeks of agitation — of rising tariffs and counter duties — battered one economy close to Beijing: Hong Kong’s. A man watches as people salvage usable materials from discarded office furniture for their secondhand shop in Hong Kong in December 2018 The government says the impact of the trade war can be seen in consumer prices, slower spending and lighter trade. Consumer price inflation ticked up 2.8 percent in the third quarter. The government warned that inflation could head upward as local costs rise along with residential rental rates. Trade and logistics — the apparatus to move the shoes and dresses and smartphones from Chinese factories to markets worldwide — are central to Hong Kong’s economy. The sector accounts for nearly one-fifth of the city’s GDP, higher than the substantial financial and banking industry … [Read more...] about Hong Kong economy caught in US China trade crossfire
Workshop looks to connect Vietnam-Hong Kong trade partners
Vietnamese Trade Counselor in Hong Kong Nguyen Duy Kien at the workshop. (Photo: VNA) HCM City (VNA) – A workshop to promote trade ties between enterprises from Vietnam and Hong Kong (China) was held in Ho Chi Minh City on November 15 by the Investment & Trade Promotion Centre of Ho Chi Minh City (ITPC) in collaboration with the Vietnamese trade office in Hong Kong. ITPC Deputy Director Cao Thi Phi Van said economic and trade ties between both sides have developed in recent years, with average trade growth during 2013-2017 at 13.7 percent per year. Hong Kong is the sixth largest trade partner of Vietnam. Most Vietnamese exports to the territory are computers, electronic products and components, cameras and spare parts, telephones and equipment, she said. As the products are not only consumed in Hong Kong but also shipped to mainland China and other foreign countries, Vietnam has a high trade surplus with Hong Kong. Meanwhile, Vietnamese Trade Counselor in Hong Kong … [Read more...] about Workshop looks to connect Vietnam-Hong Kong trade partners
Vietnam has place for investment from US and EU
Coca-Cola is one of the largest US investor in Vietnam, source:Vietnamnet Three giant investors’ race in foreign investment inflow One of the top Korean groups in the energy, telecommunications, hi-tech components, logistics, and services sector, SK Group has just invested $470 million in Masan group—one of the three largest private companies in Vietnam in terms of market capitalisation. With this decision, SK will hold 9.5 per cent of Masan’s shares and become its biggest foreign investor. SK is only one of the latest South Korean firms investing in Vietnam. According to The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, most large Korean companies have already invested in Vietnam, including Samsung, LG, Lotte, and CJ. Besides, there are also Shinhanbank, Wooribank, and Nonghyup. By the end of August 2018, Korean investors had 7,161 projects with the accumulated registered capital of $61 billion. Attracting investment from the US … [Read more...] about Vietnam has place for investment from US and EU
Asian energy firms soar with oil prices, dealers eye trade talks
Energy firms surged on the back of further gains in oil prices in Asian trade Friday wile regional equity markets mostly rose as traders keep a cautious eye on high-level China-U.S. trade talks. The benchmark Brent crude contract broke the $80 mark Thursday for the first time in three-and-a-half years as a perfect storm of issues fuels concerns about supplies, with some forecasting it could break $100 at some point. Brent and WTI are up about a third from their 2018 lows seen in February with upward pressure coming from Donald Trump's decision to rip up the Iran nuclear deal, economic uncertainty in key producer Venezuela and an output cap by OPEC and Russia. That comes on top of continued improvement in the global economy and ongoing unrest across the Middle East. Higher prices are boosting expectations for fatter profits for global energy giants and on Friday Hong Kong-listed PetroChina was among the big gainers, surging more than six percent, while CNOOC put on 3.4 percent. Inpex … [Read more...] about Asian energy firms soar with oil prices, dealers eye trade talks