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Expansion to HK drives success

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      HK

      HK

      Expansion to HK drives success

      2024-08-02 13:58 Last Updated At:14:28

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. The company expanded to Hong Kong in 2021 given its vision to leverage the city’s unique role as a financial and talent hub and a springboard that would enable it to access more of the Asia-Pacific market.

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      Mr Chong said that Hong Kong is rich in both I&T resources and specialised talent. In addition to that, the city is a multinational environment. Such unique features make it a favourable location for foreign companies to set up branches in Hong Kong, especially those from developing nations.

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      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      (Source: news.gov.hk)

      (Source: news.gov.hk)

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      Johnny Chong is the Chief Executive Officer of a Vietnamese company that provides information and technology (I&T) services. (Source: news.gov.hk)

      Moreover, Hong Kong’s location is attractive to foreign companies. Mr Chong pointed out that Hong Kong is part of the Greater Bay Area and is strategically situated at the heart of the Asia-Pacific region. As a result, his employer plans to develop its Hong Kong branch as an Asia hub to provide services to nearby markets. 

      (Source: news.gov.hk)

      (Source: news.gov.hk)

      Chief Executive John Lee led a delegation to visit three countries of the Association of Southeast Asian Nations, namely Laos, Cambodia and Vietnam, and is currently on his final stop - Vietnam.

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      Mr Chong hopes the Chief Executive’s visit will strengthen ties between Hong Kong and Vietnam and that more measures can be implemented to attract Vietnamese firms and talent to Hong Kong.

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      CE meets President and Deputy Prime Minister of Vietnam in Vietnam Source: HKSAR Government Press Releases.

      Hong Kong Customs detects case of non-registered precious metals and stones dealer carrying out specified transactions

      Hong Kong Customs yesterday (January 21) detected a case involving a local company that conducted multiple precious products transactions, with each transaction valued at over HK$120,000, without registration under the Dealers in Precious Metals and Stones Regulatory Regime. The investigation is ongoing.

      According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise. Any dealer, other than a registrant, who claims to be a registrant, claims to be authorised to carry out, or carries out any cash or non-cash transaction(s) with a total value at or above HK$120,000 is liable to a maximum fine of HK$100,000 and imprisonment for six months upon conviction.

      Hong Kong Customs reminds all dealers that the transitional period for registration under the Regime has ended. Any dealers in precious metals and stones must obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.

      ​For the forms, procedures and guidelines to submit applications for registration, please visit the website for Dealers in Precious Metals and Stones Registration System (www.drs.customs.gov.hk) or Hong Kong Customs' webpage (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).

      Members of the public may report any suspected transactions involving precious metals and stones with a total value at or above HK$120,000 conducted without the required registration to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

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