14 May 2008
Hong Kong Garment, Footwear Companies Visit Vietnam and Cambodia
Mission Explores Possibility of Relocating Hong Kong Companies to Low-Cost Region
16 May 2008 - The Hong Kong garment and footwear industry enjoyed a first-hand look at business and investment opportunities in Vietnam and Cambodia earlier this month during a five-day trip organised by the Hong Kong Trade Development Council (HKTDC).
The Hong Kong Garment and Footwear Partnership Mission to Vietnam and Cambodia, 5-9 May, included 29 delegates from the garment industry and 14 from the footwear industry. Ralph Chow, Director of Product Promotion at the HKTDC, and one of the mission leaders, said the visit was organised to help Hong Kong garment and shoe manufacturers "explore the possibility of relocating their factories to Vietnam or Cambodia."
Garment delegates visited two clothing factories in Vietnam and three in Cambodia. These included Vietnam's biggest garment manufacturer, Thanh Cong Textile Garment Co, which boasts 5,000 employees, and Hong Kong company Tack Fat Garment (Cambodia) Ltd, Cambodia's largest foreign investor and employer.
Footwear delegates visited two factories in Vietnam and two in Cambodia, including a Taiwanese company, a Hong Kong factory and a mainland operation.
Local officials briefed the delegates on the investment environment in Vietnam's Long An Industrial Zone and Cambodia's Phnom Penh Special Economic Zone.
"We looked into the infrastructure, facilities, services and operational practices of both countries," said Larry Lau, Director and General Manager of Legent Footwear Ltd. "The mission also provided us with opportunities to network with local industry players and officials. That will be very helpful when we are making our investment decisions," he added.
Also pleased with the mission's results was Barry Liu, Managing Director of Fortune Trader Industrial Ltd. "Free trade is very important for investors. One of the biggest advantages of Cambodia is its liberal economy, including the fact that there are no foreign exchange controls."
Felix Chung, Director of the Hong Kong Apparel Society, and John Khuu, Director of the Federation of Hong Kong Footwear, were the mission's co-leaders.
About the HKTDC
Established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 offices worldwide, including 11 in the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, visit www.hktdc.com