Asia, Africa & Middle East Committee
Middle East Attracting Companies’ Interest
Patrick Lau, Deputy Executive Director, Hong Kong Trade Development Council, shared his insights with members on the Middle East’s business climate and developments at the committee meeting on 30 January. Lau had recently visited several key cities in the region, and explained that the United Arab Emirates and Kingdom of Saudi Arabia were attracting a lot of attention from Hong Kong and Mainland companies.
At the same meeting, members discussed the upcoming business mission to the Middle East and decided on visiting the UAE and Bahrain from 20-26 April to help members better understand the markets and opportunities there.
Singapore Budget Outlook
HKGCC and the Singapore International Chamber of Commerce organized a joint webinar on 19 February to discuss the Singaporean Government’s latest budget which was unveiled on 16 February. Finance Minister Lawrence Wong announced that Singapore is set to raise corporate taxes on multinationals from the start of next year while it will beef up efforts to become an artificial intelligence hub. HKGCC will also invite SICC members to watch the Joint Business Community Luncheon with the Financial Secretary on 15 March.
Asia, Africa and Middle East Committee Chairman Jonathan Lamport attended a reception on 22 February celebrating the 63rd Anniversary of the National Day of The State of Kuwait. He met with the Consul General of The State of Kuwait Ambassador Naser S A Sh Alghanim and his wife.
Mission Planning Meeting with UAE Consul General
AAME Committee Chairman Jonathan Lamport and Director for PR & Programs Malcolm Ainsworth called on the Consul General of the United Arab Emirates, His Excellency Shaikh Saoud Ali M. A. Almualla, on 23 February to discuss the Chamber’s planned mission to the UAE. Lamport explained Chamber members were keen to find out more about innovation and technology development, investment, green energy and property in Dubai, Abu Dhabi and also Sharjah. The Consul General recommended that the delegation visit several organizations and companies in the Emirates.
Europe Committee
No Place Like Hong Kong
Stephanie Dodin, Executive Director, French Chamber of Commerce & Industry in Hong Kong, and her team called on the Chamber on 19 February to discuss potential cooperation and programmes to help revitalize the economy and promotes its growing attractiveness to companies from around the world. She explained there has been an increase in foreign companies setting up operations in Hong Kong, as they prefer to use the HKSAR as a hub for their businesses around the region.
Chamber CEO Patrick Yeung welcomed the visitors and proposed several areas where the two chambers could cooperate. Both sides agreed to move forward with the common goal of reinforcing the message that there is no better place in Asia than Hong Kong for companies to base their business. To kick-start reconnection and cooperation, they agreed to organize a joint Happy Hour in April.
Exploring Business Mission to Spain and Portugal
At the Europe Committee meeting on 22 February, Committee Chairman Alfonso Ballesteros presented plans for a week-long business mission to Spain and Portugal, including Lisbon, Madrid and Mallorca, which is set to take place in late May. He highlighted the business potential in Mallorca, including plans to establish direct flights to Asia.
Besides opportunities to visit cutting-edge infrastructure, innovation and tech centres, such as the Bernabeu stadium in Madrid, the mission could also open business opportunities through high-level networking with support from the regional government and main business organizations. Several members expressed interest in joining. Any member keen to learn more about the mission can contact the Europe Committee secretary.