Vietnam seen as gateway for Macau businesses, says ASEAN chamber

A group photo with chamber members concluding their meeting with representatives from the Saigon Hi-Tech Park [ Photo: Nadia Shaw]

The Macao ASEAN International Chamber of Commerce (MAICC) is boosting its efforts to position Macau as a bridge between the Greater Bay Area and Southeast Asia, with Vietnam emerging as a key focus for investment and trade, chairman Kelvin Tan said during a four-day business delegation to the country.

Speaking to the Times on the final day of the trip, Tan described Vietnam as “the fastest-growing economy in Southeast Asia,” citing annual growth of more than 8% and a young, expanding workforce as key drivers of investor interest.

The visit, which included stops in Ho Chi Minh City and Ho Tram, brought together local executives from sectors including construction, tourism, oil and gas, trade, intellectual property, and recruitment.

“From an investor’s perspective, the advantages are very clear – a young population, competitive labor costs, and strong government incentives for manufacturing,” he said.

“But there are also shortcomings, including regulatory constraints and foreign ownership limits that investors need to navigate,” Tan added.

According to Tan, the local chamber seeks to strengthen links with the Association of Southeast Asian Nations (ASEAN), an 11-member regional bloc. In late 2025, Timor-Leste officially became the 11th member state of ASEAN.

ASEAN has increasingly drawn global attention as supply chains diversify beyond China, with Vietnam in particular benefiting from what Tan described as the “China-plus-one” strategies adopted by multinational firms.

Tan noted that the region’s trade architecture, including the Regional Comprehensive Economic Partnership (RCEP), has further strengthened its appeal.

“Anything manufactured within ASEAN is almost entirely duty-free across member states,” Tan said. “You are looking at a market of 680 million people today, potentially reaching one billion by the next decade.”

Against this backdrop, MAICC has sought to refine its role. Rather than positioning itself as a broad intermediary between China and ASEAN, Tan said the chamber now focuses on linking Southeast Asia more directly with the Guangdong-Hong Kong-Macau Greater Bay Area.

“In the past, if we connected businesses to China, they would go directly to Beijing or Shanghai,” he said. “So, we shifted our focus to the Greater Bay Area, where Macau can serve as a more practical and effective platform.”

The delegation’s Vietnam visit reflects that strategy. Tan said the trip was designed not for his own investment interests but to support members across different sectors.

“We tailor these visits to our members’ needs,” he said. “Some are in construction, some in trading, some in technology. Our role is to help them explore opportunities and connect with the right partners.”

Vietnam’s growth sectors, he added, are led by manufacturing, construction, and tourism, with infrastructure development expected to accelerate over the next five years. However, he noted that execution remains uneven.

“The pipeline is there, but efficiency is still developing,” Tan said. “It’s comparable to where China was in the late 1980s or early 1990s.”

For MAICC members, the trip has already generated concrete leads. Johnny Si Tou, a director in the oil and gas supply chain sector, said Vietnam’s export-oriented economy presents opportunities distinct from other ASEAN markets such as Indonesia, which is more driven by domestic consumption.

“Vietnam has benefited the most from trade shifts due to tariffs on China,” he said, adding that he plans to explore partnerships with local distributors to enter the market.

Another delegate, Amy Wong, who works in intellectual property law and cross-border investment services, said the visit provided valuable insight into Vietnam’s business environment.

Kelvin Tan

“I hope to better understand the local market so I can support clients looking to invest here in the future,” Wong said.

For others, the chamber itself has been central to unlocking access. Jiji Tu, executive director of MSS Recruitment and hello-jobs.com, said MAICC’s structured trade missions and direct engagement with government bodies distinguish it from other business platforms.

“These delegations provide real, on-the-ground intelligence and access to official channels,” Tu said. “You are not just networking – you are building practical connections.”

Michael Ho, involved in bulk trading, said the chamber’s role as a connector is particularly relevant in the current geopolitical environment.

“Macau serves as a bridge,” he said. “Through this trip, we’ve already secured contacts with key suppliers, and we will move into deeper discussions.”

Tan emphasized that such outcomes reflect the chamber’s broader mission as a non-profit organization focused on facilitating, rather than executing, deals.

“We create the environment, the connections, and the dialogue,” the chairman said.

“Ultimately, it is up to individual members to assess risk and move forward.”

Tan said access to these networks is one of MAICC’s key strengths. “We can reach out directly to officials when our members need support,” he said.

At the same time, the chairman acknowledged structural challenges that could limit foreign participation in Vietnam, including requirements for majority local ownership in certain sectors.

“These are areas where Vietnam can become more investor-friendly,” he said. “If they can improve regulatory openness and integration within ASEAN, it will accelerate investment.”

Despite these constraints, Tan remains optimistic about Vietnam’s trajectory, particularly in tourism, where he sees significant untapped potential.

“They received around 20 million visitors last year,” he said. “With the right policies, that could reach 30 million within five years.”

Highlighting ASEAN’s diversity as a strength, with different countries specializing in distinct industries, Tan said: “Singapore is a financial hub, Malaysia is strong in semiconductors, Thailand has its own strengths. This specialization allows the region to function effectively as a collective market.”

As the delegation completed its Vietnam tour, Tan said the immediate priority would be follow-up, with success ultimately measured by whether initial contacts translate into concrete projects.

“We have achieved our objective of establishing the right connections,” he said. “The next step is for members to evaluate and act.”

Tan added that a clearer assessment of outcomes would likely emerge in the coming months as companies pursue leads generated during the trip. Nadia Shaw, Ho Chi Minh City