The excitement at the Eighth Belt & Road Summit last month was palpable. Since it was launched in 2016, the summit has consistently served as a premier global platform for promoting business collaboration, and this edition surpassed expectations. 

The success of the event, which was held in a physical format for the first time since 2020, could be seen in its size and scope. It drew thousands of leaders, experts and investors from all over the world, who took part in insightful policy dialogues, seminars and project investment sessions. Moreover, over 20 Memorandums of Understanding were signed across a wide range of industries and areas. I am pleased to report that feedback from investors on the ground, looking to do business with Hong Kong and Mainland companies or set up offices on our shores, was positive and hopeful. 

As an important connector to the Mainland and Greater Bay Area (GBA), and a key city for the Belt & Road Initiative, Hong Kong is integral to promoting a framework for regional economic cooperation for the benefit of all. In his keynote speech at the summit, Chief Executive John Lee referred to the city as an “ideal Belt and Road centre.” Indeed, Hong Kong has done a lot to strengthen ties and promote collaboration with Belt & Road countries through professional services and cultural exchanges – efforts that were lauded by Vice-Premier Ding Xuexiang in a video message on the first day of the event.

In the face of the struggling global economy and sluggish recovery, the HKSAR Government is leaving no stone unturned in forging collaborations with the Middle East and the ASEAN nations. In fact, Chief Executive John Lee’s recent trips to these regions have already resulted in dozens of agreements, not to mention stronger political ties. 

Underlining the importance of these outreach initiatives, this year’s summit introduced a Middle East Forum for the first time. The dialogues that ensued between government ministers from countries such as the United Arab Emirates and Egypt, as well as business leaders and investors, drove home the importance of tapping new markets, strengthening existing partnerships and forging new ones. The forum also shone a light on how Hong Kong and Mainland companies with previous ties to the region, or those looking for new pastures, can seize new investment opportunities.

In his summit address, the Chief Executive vowed to continue promoting Hong Kong to more Belt & Road countries and regions – from Central Asia to Eastern Europe and Africa – as well as other economies that are keen  establish links with Hong Kong and China. 

These connections will go a long way to benefit Hong Kong as it chases economic recovery, helping the business community access a wider range of opportunities as they seek diversification and growth in the post-pandemic era.

Patrick Yeung
ceo@chamber.org.hk