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Asia & Africa CommitteeIncoming Visitors

 
Date
2020/12/09

Meeting with Royal Thai Consul General in Hong Kong

Tull Traisorat, Consul General of the Royal Thai Consulate General, called on Chamber CEO George Leung on 9 December to exchange views on enhancing cooperation between Thailand and Hong Kong. He was accompanied by Deputy Consul General Sorayod Kumbunlue and Business Information Center Officer Therdkhwan Paewsawang. 

CG Traisorat said the Thai government has been in talks with the Hong Kong government to enhance cooperation in six key areas, namely financial services, creative industry, trade & investment, manufacturing relocation, human resources, and science & technology. He said the Thai government placed a lot of importance on the country’s participation in ASEAN, the GBA and in turn, the BRI.

He also introduced the Eastern Economy Corridoor (EEC), the government’s latest strategic development initiative, which aims to connect Thailand’s Eastern provinces Rayong, Chonburi, and Chachoengsao to the rest of Southeast Asia and China and act as a channel to improve interconnectivity in the region. The Eastern Economic Corridor Office of Thailand (EECO), chaired by the Prime Minister, is a one-stop-shop for investors and simplifies business procedures significantly. Up to 13 years of tax exemptions for corporate tax and personal income tax are available to encourage businesses to set up there.

The two sides agreed to work more closely with chambers and trade associations in Thailand and Hong Kong to build business connections for businesses in both regions.

2020/12/02

Investment Opportunities in the Philippines

Ceferino S. Rodolfo, Undersecretary, Industry Development and Trade Policy Group (IDTPG), Department of Trade and Industry, The Philippines, held a virtual meeting with Chamber CEO George Leung, Asia & Africa Committee Chairman Nigel Collett, and members on 2 December to discuss the Philippines’ latest investment landscape and how the two economies can work closer together. 

Rodolfo said that the Philippines was actively seeking foreign investment especially in the manufacturing and technology sectors. The government will soon sign a new tax law to lower corporate taxes from 30% to 25% for big corporations and 20% for SMEs. It will also expand its income tax holiday from the current 4 years to 7 years, and provide tax deductions for a further 10 years in specific areas such as R&D and staff training.

With the country recently having signed the RCEP, Rodolfo expected greater economic collaboration in the region. He said although Hong Kong was not part of the agreement as an individual entity, it could play an important role as a gateway to connect countries in the region to the Greater China market, and supported its proposal to join RCEP. 
 

2020/11/17

Furthering Hong Kong-Sri Lanka Ties

Asia & Africa Committee Chairman Nigel Collett, and Vice Chairmen Andrew Wells and Natalia Sukhanova held a video conference with Ruwan De Silva, Director of the Federation of Chambers of Commerce and Industry of Sri Lanka on 16 November. The two sides discussed ways to strengthen trade and investment relations between Hong Kong and Sri Lanka, and explored the potential of organizing a briefing session in 2021 to inform members on the latest developments of the country.

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