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Asia & Africa CommitteeIncoming Visitors

 
Date
2022/11/23

Asia & Africa Committee Meeting

We were glad to have Lyna Fong, Director of the Commercial Center of Cambodia, join us at our Asia & Africa Committee meeting on 23 November to update members on Cambodia’s latest business developments. Fong said despite challenges in the global economy, Cambodia’s growth was projected to bounce back to 6% in 2023. The country’s exports had grown by 28% year-on-year, thanks to sectors such as garments and textiles, bicycles, and agriculture performing strongly. Total investment in the country had also skyrocketed by 140%, especially in Special Economic Zones.

She explained that the New Investment Law launched in late 2021 had significantly improved the country’s business environment by guaranteeing investments more protection and compensation against unexpected sociopolitical events, encouraging good competition, providing more freedom in currency exchange and profit repatriation, and additional tax incentives to invest.

The committee also welcomed two new members, Nick Chan, Partner of Squire Patton Boggs, and Marshall Jen, Principal Family Advisor of Edlinked Ltd.

2022/11/18

Strengthening bonds with South Africa

South Africa’s new Consul General to Hong Kong, Mojalefa Mogono, together with Political & Economic Consul Shari Small, visited the Chamber on 18 November where they were welcomed by Asia and Africa Committee Chairman Jonathan Lamport, as well as Vice Chairmen Andrew Wells and Dewan Saiful Alam, to discuss potential collaboration between the two regions.

The Consul General said South Africa and China had long enjoyed a strong and special friendship. For over a decade, China has remained the country’s largest trading partner, while investment from China totaled over US$25 billion in 2021. He added that apart from infrastructure projects, many companies in South Africa were interested in the arts and culture aspect of the Belt and Road Initiative. He encouraged members to look into the country’s growing sectors such as medical equipment and appliances, automotive manufacturing, finance, and tourism.

Both sides agreed to organize more events to keep members abreast of updates on the latest developments and business opportunities in South Africa.

2022/11/16

Building Connection with The Pan African Chamber of Commerce and Industry

We had a very useful meeting on 16 November with Dalaya Esayiyas, Senior Advisor of the The Pan African Chamber of Commerce and Industry (PACCI) and Land Bank and Development Corporation, Addis Ababa. She explained the purpose and goals of the Chamber, one of which was to improve information flows and perceptions about doing business on the continent, as well as improve investment policies.

HKGCC’s Deputy Chairman Agnes Chan, and Vice Chairmen of the Asia & Africa Committee Edmond Yue, and Dewan Saiful Alam, exchanged ideas, and agreed to collect members’ views about doing business and investing in Africa as a starting point for the Pan African Chamber to address Hong Kong businesses’ questions.  

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