In his report, Minister Tuyen said that the Vietnamese economy has constantly maintained its high growth rate over the past years, reaching 7.5 percent annually between 1991-2000, 8.2 percent in 2005, 8.17 percent in 2006 and around 8.5 percent this year.

He noted that two-way trade value between Vietnam and Hong Kong has also surged in recent times, fetching US$2 billion in 2006. Hong Kong is one of the largest investors in Vietnam. By 2006, Hong Kong had about 375 investment projects in Vietnam with a combined registered capital of US$5.2 billion. However, Minister Tuyen said, bilateral trade cooperation is still modest compared to their traditional ties and potential.

The trade minister introduced Vietnam’s advantages, including stable economic policy, simplified administrative procedures and a young and low-cost workforce. He also said that Hong Kong businesses have many advantages when investing in Vietnam's textile and dying, electrical appliances production, farm product processing, tourism site and hotel building, port construction and securities market.

The seminar is part of several activities held during Minister Tuyen's current visit to Hong Kong from March 11-17, which was made at the invitation of the authorities of the Hong Kong Special Administrative Region.

VOVNews/VNA