Ｈｏｎｇ　Ｋｏｎｇ　ｉｎｖｅｓｔｏｒｓ　ｌｏｏｋｉｎｇ　ｔｏ　Ｖｉｅｔｎａｍ.docVIP

Ｈｏｎｇ　Ｋｏｎｇ　ｉｎｖｅｓｔｏｒｓ　ｌｏｏｋｉｎｇ　ｔｏ　Ｖｉｅｔｎａｍ 　　 　　By Olivia Chung 　　 　　Capital flows to where the profits are. Astaxation and production costs increase onmainland China, more Hong Kong enterprisesare eyeing Vietnam for investmentopportunities following the Southeast Asiancountrys accession to the World TradeOrganization (WTO) in January 　　 In order to capture the fresh businessopportunities, Peter Woo Kwong -ching,chairman of the government -affiliated HongKong. 　　Trade Development Council (TDC)led a17-member Hong Kong business delegation toVietnam on June 18-21. The TDC delegation.with representatives from Hong Kongsclothing, jewelry, 　　financial, 　　logistics andelectric appliance sectors, visited Hanoi beforegoing to Ho Chi Minh City. 　　In Hanoi, the delegation met with VietnamPrime Minister Nguyen Tan Dung, who saidoverseas investment was an integralcomponent of Vietnam s 　　economicdevelopment and his government wouldprovide favorable conditions for Hong Konginvestors, particularly in the financial, banking,insurance, securities, shipping andmanufacturing sectors. 　　 Earlier, the delegation was briefed byVietnamese Minister of Trade Truong DinhTuyen and Vice -minister of Planning andInvestment Nguyen Bich Dat on the latestdevelopments in Vietnam, including lawsrecently introduced to create a more effectivebusiness environment in the country. 　　Woo said Vietnams competitive laborforce and its competitiveness as amanufacturing base, particularly for garmentsand electronics, have drawn attention fromHong Kong businessmen. 　　Trade between Vietnam and Hong Kong inJanuary-September, 2006, grew 19.5% to US￥2.1 billion. Inthe same period, Vietnam absorbed more than US ￥600million foreign direct investment (FDI) from Hong Kong,which was the largest among all foreign investments in thecountry. 　　 Light-industry manufacturing and real estate, such ashotels and commercial and residential buildings, seem to beHong Kong investors favorites, jointly accounting for o