Asia, Africa and Middle East CommitteeIncoming Visitors

The Hong Kong General Chamber of Commerce (HKGCC) and the Bahrain Chamber of Commerce & Industry (BCCI) co-organized a webinar on 7 May to update Hong Kong businesses on the latest investment incentives in Bahrain. The event was supported by the Chairman of BCCI, the Bahrain Economic Development Board (EDB), Tamkeen (Bahrain’s labor fund), the Honorary Consul General of Bahrain in Hong Kong, and the Hong Kong Bahrain Business Association.

Bahrain’s financial sector remains a key economic driver, contributing 16.9% to GDP, followed by manufacturing at 15.7%. For Hong Kong businesses, they said financial services, ICT, manufacturing, logistics, and tourism were sectors that the government was prioritising.

Aurelio Castilla, Head of International Offices at EDB, highlighted opportunities in southern Bahrain’s downstream aluminum industry, suggesting Hong Kong could collaborate with mainland Chinese businesses in this sector. He also emphasized Bahrain’s growing digitalization and e-commerce landscape as areas where Hong Kong’s expertise could prove advantageous.

Bahrain has long been a gateway to other GCC members, and offers many incentives, including generous subsidies and tax incentives. Companies interested in learning more about Bahrain’s business opportunities can contact EDB at https://www.bahrainedb.com/

It was a pleasure to welcome Abdulla Alnoaimi, United Arab Emirates Commercial Attaché to the People’s Republic of China, to the Chamber on April 23, accompanied by UAE’s Consul General in Hong Kong, Shaikh Saoud Al Mualla, and Ahmed Elbeshlawy, Economic Analyst.

HKGCC Chairman Agnes Chan and members welcomed the visitors, who discussed the upcoming Investopia – Hong Kong Edition, which is scheduled to take place in Hong Kong in mid-September. The investment platform aims to facilitate global collaboration between investors, business leaders and governments to identify and launch new investment opportunities, promote economic growth, and incubate future economies around the world.

Alnoaimi highlighted the significance of the Hong Kong-UAE partnership, and how both economies serve as the main entry points to surrounding regions. The UAE is also aiming to attract more investments by allowing full foreign ownership of businesses, easy repatriation of funds, and sectoral free trade zones, among other incentives. As such, it has attracted around 15,500 Chinese companies to operate in the UAE, often as a hub to enter MENA markets.

Chan agreed on the importance of deepening connections with UAE through co-organizing events and visits, and also explained about the many benefits Hong Kong can offer to UAE companies.

Abdul Aziz Abdulla Al Ghurair, Chairman of Mashreq in the United Arab Emirates, and his colleagues visited the Chamber on 8 April to learn more about the development and application of innovation and advanced technologies in Hong Kong. Chamber Chairman Agnes Chan, CEO Patrick Yeung, and leaders from the Asia, Africa & Middle East and Innovation Data & Communication committees welcomed the guests.

Al Ghurair highlighted Mashreq Group's significant presence in the MENA region and South Asia, with a strong track record of over 40 years in Hong Kong. Leveraging its expertise in these regions, Mashreq is well-positioned to complement international banking institutions focused on traditional markets, aligning with Hong Kong's strategy to tap into the emerging market economy. 

Tarek El Nahas, Head of International Banking at Mashreq Group, emphasized the crucial role of local partners in facilitating overseas expansion. He noted the underrepresentation of Chinese brands in the Middle East and proposed that Mashreq's reputation and support could provide liquidity when establishing a new branch.

Chan concurred on the importance of local partners in market familiarization, citing the Government's initiative on regional collaboration during the CPPCC Standing Committee Session. Timothy Tam, Vice Chairman of the Innovation Data & Communication Committee, shared the interests of start-ups and green technologies partners in the Hong Kong Science and Technology Parks Corporation and suggested opportunities for collaboration.