HK Economy - Highlight
23 March 2017
Vietnam has number of favourable attributes, including a youthful labour force and relatively low production costs. FDI in Vietnam is not just geared towards the production of labour-intensive goods, but also more sophisticated products like IT equipment and other electronic items. But such production is largely processing activities by nature. As Vietnam still lacks supporting industries, expansion in processing production has elicited vast demand for a variety of production inputs.
The remarkable performance of Vietnam’s economy has interested investors looking for new opportunities in Asia, given its labour, production cost and tax advantages. A substantial portion of the investment actually targets the export-processing opportunities in the country. This has stimulated the demand for various producer and professional services. Improved income has likewise facilitated consumer spending. All these factors have made Vietnam a lucrative market among emerging Asian countries.
Hong Kong's jewellery industry is dominated by the precious jewellery sector. Its development has been facilitated by the expansion of the local market, including sales to tourists. Jewellery production in Hong Kong encompasses a wide range of medium- to high-priced products. Hong Kong manufacturers are good at producing small stones fashion jewellery. Hong Kong is leading in the production of pure gold items, and has long been recognised as a major centre for the production of jade jewellery.