Exploring Hong Kong-India Collaboration
Satwant Khanalia, Consul General of India, together with Consuls Priyanka Mehtani and Renjina Mary Varghese, paid a courtesy visit on Asia & Africa Committee Chairman Jonathan Lamport and Vice Chairmen Andrew Wells and Dewan Saiful Alam on 18 January.
CG Khanalia said that as Hong Kong reopened its borders, she was busy helping Indian delegations arrange their visits and expected numerous groups coming in April. Speaking of India’s sectors of growth, she there were many opportunities in gems & jewelry, pharmaceuticals, chemicals, handicrafts, and renewable energy.
In particular, the pharmaceuticals industry had been booming in the past decade, with exciting developments and new players emerging in areas such as vaccines, generic medicine, medical equipment and advanced biotechnology.
Fostering Closer Ties with UAE
Shaikh Saoud Ali Almualla, Consul General of the United Arab Emirates called on the chamber on 18 January and met with CEO George Leung, Asia & Africa Committee Chairman Jonathan Lamport and Vice Chairmen Andrew Wells and Dewan Saiful Alam. He was accompanied by Economic Analyst Dr Ahmed Albeshlawy and Media Researcher Sofia Choi. CG Almualla said he was delighted that China-UAE relations were making great strides in recent years.
He added that Hong Kong and UAE were similar in that they both were important re-exports hubs for their respective regions and his country was looking forward to receiving the Hong Kong delegation in February. Both sides agreed to organize more knowledge-based events and cultural get-togethers to foster closer relations between Hong Kong and UAE.
Lantau Tomorrow Vision: Briefing Session on proposed Kau Yi Chau Artificial Islands
On 16 January, Secretary for Development Bernadette Linn and her team briefed members on the Government’s preliminary proposals for the reclamation and development of 1,000 hectares of land near Kau Yi Chau. Topics such as the reclamation extent, broad land use concepts, strategic transport infrastructure, and possible financing options of the proposed major development were explained, followed by an active question-and-answer session.
Eric Ma, Chairman of the Chamber’s Real Estate & Infrastructure Committee, presided over the briefing session, while Chamber Vice Chairman Douglas Woo proposed a vote of thanks. He added that the Chamber looked forward to studying and commenting on the refined proposal in due course.
A visit to Humansa | Victoria Dockside
Members of the Health and Wellness Working Group and the Manpower Committee went on a guided tour of the healthcare services centre Humansa | Victoria Dockside on 13 January. During the visit, they had the opportunity to undergo personal fitness assessments and try out the centre’s cutting-edge training facilities.
China Expect Challenges, but Stay Optimistic
Lance Yau, Business Advisory Services Manager for the US-China Business Council, provided an insightful update at the Americas Committee meeting on 12 January on the business sentiment of U.S. companies doing business with Mainland China. Despite the challenges of the pandemic, 63% of businesses polled in USSBC’s survey last said profitability had increased in 2022, compared to 2021. However, more businesses (21%) were pessimistic about doing business in China in the coming five years, compared to 2021 (9%), due to geopolitics (73%) followed by the regulatory environment (66%).
Despite challenges, Yau said he was confident that the China market would continue to offer a lot of potential for U.S. companies. He said if companies were unable to participate in the China market, they would be at a global disadvantage compared to competitors who were active in China.