Dear Members : There is now only one month left before the Lunar New Year (Year of the Gold Pig), I would like hereby to wish all of you good health and prosperity in the year 2007 ahead. Kung Hei Fat Choi!

It will be splendid to hear good news in the New Year, let’s report to you that our Membership is up nearly 25% as compared to the same period of last year. This will be a good starting point of opening up the Association to any nationality or company forms who are interested to join us with the purpose to strengthen the network for expansion and Members interaction. 

According to the figure of Ministry of Planning & Investment, Hong Kong was ranked  No. 2 (two) among the biggest FDI investors to Vietnam with total registered investment capital of US$1.2 billion in 2006 while Vietnam attracted more than 10.2 billion in FDI in 2006, an increase of 47.4 per cent. With this positive index, I strongly believe that Hong Kong investors would continue to keep investing to Vietnam since the country was regarded as the second fastest Asian growing economy after China.

Also Vietnam would have chances to expand further to the world’s biggest markets with the benefit from its own advantages by the accession to the World Trade Organization (WTO), the US endorsement of the Permanent Normal Trade Relations (PNTR) and the results gained in the APEC Summit, together with the performance achieved such as economic growth rate exceeding 8 per cent, considerable funds from FDI and ODA, Import-Export turnover and securities market boom… are considered to be strong momentum bringing the growth opportunities for Vietnam in 2007.

However, there are still two important issues which are listed in our outstanding program: HKSAR Visa applied for Vietnamese citizen and the Double Taxation Agreement between Hong Kong and Vietnam…are still not practicable. This will be the disadvantage and less competitive position for our Hong Kong investors here when compared with other counterparts from countries which have a DTA with Vietnam. HKBAV will focus to work on these two issues in 2007 and look forward to receiving your advice and support.

See you on the next issue and look forward to seeing you at our next function – Oscarr Night Gala Dinner Party on March 31st, 2007.

With kind regards,

Michael Chiu
Chairman