The Bulletin

Chamber in Review

The Bulletin. October 2023

International Connections

Geoffrey Parish, the U.S. Chief Commercial Consul, Deputy Senior Commercial Consul Paul Frost and Commercial Specialist Michael Wajntal visited the Chamber on 30 August to exchange views on bilateral trade and investment. Chamber CEO Patrick Yeung greeted the visitors along with Americas Committee Chairman Evaristo Trevino Berlanga and Vice Chairmen Mark Michelson and Susana Munoz Enriquez.
Parish and his team shared about the upcoming U.S. trade missions to Hong Kong, which cover a wide range of sectors from medical technology to design to construction. In terms of medical technology development, the two sides discussed exploring opportunities for collaboration with universities in Hong Kong and the Greater Bay Area.

Ambassador Pablo Macedo Riba, Consul General of Mexico in Hong Kong, and Dr. Esteban Ramirez, Consul of Economic and Commercial Affairs, called on the Chamber on 7 September, where they were welcomed by Chamber CEO Patrick Yeung and Americas Committee Vice Chairman Susana Munoz Enriquez.
The Ambassador said Mexico was one of Hong Kong’s largest trade partners in Latin America, with Hong Kong serving as a strategic gateway to the Mainland. He also provided an update on Mexico’s economic rebound after the Covid pandemic. Both sides discussed the business opportunities for Hong Kong companies on nearshoring in Mexico, as well as cultural exchange activities for local and Mexican businesses through food and music.

Consul General of the State of Qatar H.E. Ali Saad Al-Hajri and Deputy Consul General Maryam Ahmad Al-Shibi met Asia, Africa & Middle East Committee Chairman Jonathan Lamport, Vice Chairmen Dewan Saiful Alam and Yolane Japhet on 4 September to reinforce the relationship between the two parties and share insights into Qatar’s latest developments.
Al-Hajri explained that Qatar enjoyed strong ties with China and the two countries collaborated closely. For example, Qatar and China jointly constructed the 80,000-seat Lusail Stadium, which was the main venue for the World Cup’s final match and closing ceremony.
He added that Qatar’s well-established infrastructure and investor-friendly policies presented many opportunities in different sectors such as green energy, fin-tech and biotechnology. He said Hong Kong and Qatar were quite similar as they both serve as connectors between East and West, and hoped that the two could work more closely together – where Qatar would provide resources and attractive business incentives, and Hong Kong could contribute by bringing in its expertise and international contacts in a wide range of sectors.

Israt Ara, Consul General of Bangladesh, paid a courtesy visit to the Chamber on 11 September and was welcomed by CEO Patrick Yeung and Chairman of the Asia, Africa & Middle East Committee Jonathan Lamport. The two sides discussed topics related to economic and cultural ties between Bangladesh and Hong Kong, and agreed to foster closer cooperation in areas such as trade, investment, energy and tourism.
Ara said she was looking forward to more engagement between the two economies, which have enjoyed close ties for a long time. She added that the exclusive economic zones in Bangladesh would be able to cater to Hong Kong investors’ business interests across a wide range of sectors, including logistics, pharmaceuticals and tourism.

The Chamber was treated to a comprehensive update on the Egyptian economy and initiatives the Government has been rolling out since 2015 to boost growth as well as domestic and international investment. Chamber CEO Patrick Yeung and Asia and Africa Vice Chairman Yolane Japhet welcomed Hossam Heiba, CEO, the Egyptian General Authority for Investment and Free Zones, to the Chamber on 13 September, who was in town for the Belt & Road Summit.
Heiba explained that a key objective of the Government was to enlarge the private sector role in the economy to at least 65%, from around 25% today. It is also wooing investors with a host of initiatives and private as well as public free trade zones which are building up cluster industries across the country. With a population of around 120 million, of whom 10 million are foreigners working there, he explained that Egypt has a huge domestic market as well as free trade agreements with many countries, including with African, Middle Eastern and European nations. Menna Moones, Director, Investors Relations, and Sherief Malaty, Deputy Consul General of Egypt in Hong Kong, invited the Chamber to lead a business mission to the country to see the developments firsthand.

The HKGCC signed a Memorandum of Understanding with Kazakh Invest on 13 September to expand cooperation between Hong Kong and Kazakhstan. Zhandos Temirgali, Deputy Chairman, Kazakh Invest JSC and Patrick Yeung, CEO of HKGCC, signed the MoU, which was initiated during a meeting with Kazakhstan Consul General Almas Seitakynov during his visit to the Chamber in April this year. Temirgali, accompanied by Dauren Zhanseitov, Representative, Kazakh Invest JSC, and Kazakhstan Vice Consul Kamil Bekenov, explained that the country is actively looking to attract investment by offering a one-stop shop for investors and also encouraging Kazakh businesses to go global.
The country plays a key role in the Belt and Road Initiative, as it directly links China with Europe, which Temirgali likens to the “buckle” of the BRI. Members who wish to receive news updates on Kazakhstan can contact the Chamber secretariat.

阿布扎比工商會（ADCCI）總裁Ahmed Khalifa Al Qubaisi於9月15日率團到訪總商會，介紹ADCCI的工作和使命，以及阿聯酋首都的潛在投資領域，由總裁楊偉添接待。
In line with achieving the objectives of the Abu Dhabi Economic Vision 2030 and UAE Centennial Plan 2071, the ADCCI has adopted a comprehensive and integrated strategy that adapts to the shifting global economic landscape and supports building a diversified knowledge-based economy to position the Emirate among the world’s strongest economies.

A delegation from the Subic Bay Metropolitan Authority
(SBMA), led by Karen Magno, Manager of Business and Investment Department for Manufacturing and Maritime, called on the Chamber on 15 September to introduce their work and potential areas of investment in Subic Bay in the Philippines. The visitors were met by Edmond Yue, General Committee member and Vice Chairman of the Asia, Africa & Middle East Committee.
As a member of the Belt & Road Initiative and ASEAN, the Philippines is looking into opening up the Subic Bay Freeport Zone – transformed from a former US naval facility into a self-sustaining tourism, industrial and commercial centre – to attract foreign investment and generate employment.
With investment opportunities available across sectors such as infrastructure, tourism, renewable energy, logistics, as well as ICT, the zone is an ideal destination for investors, said Magno. It prioritizes green practices and is home to a high-tech ecopark with a mixed-use area to accommodate various business practices. The zone is manned by more than 1,000 law enforcement personnel and authorities to ensure a low crime rate.

Americas Committee

Meeting with the U.S. Commercial Service Hong Kong

Parish and his team shared about the upcoming U.S. trade missions to Hong Kong, which cover a wide range of sectors from medical technology to design to construction. In terms of medical technology development, the two sides discussed exploring opportunities for collaboration with universities in Hong Kong and the Greater Bay Area.

Deepening Connections with Mexico

The Ambassador said Mexico was one of Hong Kong’s largest trade partners in Latin America, with Hong Kong serving as a strategic gateway to the Mainland. He also provided an update on Mexico’s economic rebound after the Covid pandemic. Both sides discussed the business opportunities for Hong Kong companies on nearshoring in Mexico, as well as cultural exchange activities for local and Mexican businesses through food and music.

Asia, Africa & Middle East Committee

Forging Hong Kong-Qatar Connections

Al-Hajri explained that Qatar enjoyed strong ties with China and the two countries collaborated closely. For example, Qatar and China jointly constructed the 80,000-seat Lusail Stadium, which was the main venue for the World Cup’s final match and closing ceremony.

He added that Qatar’s well-established infrastructure and investor-friendly policies presented many opportunities in different sectors such as green energy, fin-tech and biotechnology. He said Hong Kong and Qatar were quite similar as they both serve as connectors between East and West, and hoped that the two could work more closely together – where Qatar would provide resources and attractive business incentives, and Hong Kong could contribute by bringing in its expertise and international contacts in a wide range of sectors.

Boosting Ties with Bangladesh

Ara said she was looking forward to more engagement between the two economies, which have enjoyed close ties for a long time. She added that the exclusive economic zones in Bangladesh would be able to cater to Hong Kong investors’ business interests across a wide range of sectors, including logistics, pharmaceuticals and tourism.

Egypt’s Bold Vision

Heiba explained that a key objective of the Government was to enlarge the private sector role in the economy to at least 65%, from around 25% today. It is also wooing investors with a host of initiatives and private as well as public free trade zones which are building up cluster industries across the country. With a population of around 120 million, of whom 10 million are foreigners working there, he explained that Egypt has a huge domestic market as well as free trade agreements with many countries, including with African, Middle Eastern and European nations. Menna Moones, Director, Investors Relations, and Sherief Malaty, Deputy Consul General of Egypt in Hong Kong, invited the Chamber to lead a business mission to the country to see the developments firsthand.

HKGCC Inks MoU with Kazakh Invest

The country plays a key role in the Belt and Road Initiative, as it directly links China with Europe, which Temirgali likens to the “buckle” of the BRI. Members who wish to receive news updates on Kazakhstan can contact the Chamber secretariat.

Meeting with CEO of ADCCI

HKGCC CEO Patrick Yeung met a delegation from the Abu Dhabi Chamber of Commerce and Industry (ADCCI) led by CEO H.E. Ahmed Khalifa Al Qubaisi on 15 September, for an insightful presentation on the organization’s work and mission, as well as potential areas of investment in the UAE’s capital.

In line with achieving the objectives of the Abu Dhabi Economic Vision 2030 and UAE Centennial Plan 2071, the ADCCI has adopted a comprehensive and integrated strategy that adapts to the shifting global economic landscape and supports building a diversified knowledge-based economy to position the Emirate among the world’s strongest economies.

Investment Opportunities in Subic Bay

As a member of the Belt & Road Initiative and ASEAN, the Philippines is looking into opening up the Subic Bay Freeport Zone – transformed from a former US naval facility into a self-sustaining tourism, industrial and commercial centre – to attract foreign investment and generate employment.

With investment opportunities available across sectors such as infrastructure, tourism, renewable energy, logistics, as well as ICT, the zone is an ideal destination for investors, said Magno. It prioritizes green practices and is home to a high-tech ecopark with a mixed-use area to accommodate various business practices. The zone is manned by more than 1,000 law enforcement personnel and authorities to ensure a low crime rate.

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