Hong Kong bolsters business links with SE Asia and Middle East

Hong Kong is set to intensify its business ties with Southeast Asian and Middle Eastern nations, as part of its contribution to China’s Belt and Road Initiative. Nicholas Ho Lik-chi, the Commissioner for Belt and Road, has identified Malaysia, Thailand, Indonesia, Vietnam, the United Arab Emirates and Saudi Arabia as key cooperation partners for the year ahead.

Ho Lik-chi oversees Hong Kong’s involvement in the Belt and Road Initiative, China’s ambitious project to establish a trade network spanning over 100 countries. He stressed the necessity for targeted efforts to yield tangible results. This year, we are preparing to go to Asian and Middle Eastern countries, and we will also explore Central Asia regions, Ho disclosed during a radio programme.

The commissioner detailed plans for official delegation visits designed to attract business and investment. Additionally, there will be business missions involving professional services, young groups and start-ups.

The Hong Kong government has already declared intentions to launch business missions aimed at five Belt and Road countries this year. These missions will include tours of the Greater Bay Area for Hong Kong-based enterprises from these countries, to promote Hong Kong as a crucial service hub for entry into mainland China’s market.

Ho revealed that the nations mentioned are particularly interested in Hong Kong’s advancements in green finance, professional service, certification, technology and start-ups. For example, Thailand and the Middle East have to promote their economic restructuring and their leaders announced their goals of carbon neutrality with a green vision, he noted.

The commissioner also mentioned that Hong Kong will be seeking more business opportunities in Central Asia and North Africa in the coming years. The Hong Kong government has previously indicated plans to establish consultant offices in Turkey and Egypt.

In a bid to bring the Belt and Road Initiative closer to the residents, Hong Kong authorities plan to organise the inaugural Belt and Road Festival this year.

This festival, to be held during the annual summit covering the global trade initiative, will feature cultural, sports, tourism and cuisine activities related to the Belt and Road countries. Ho expressed hope that the festival will help engage the residents with the initiative.

The authorities will collaborate with various cultural and sports organizations to roll out the festival, he added, reported Bangkok Post.