Social stability, a business-friendly environment and a sound legal system have long been the reasons Hong Kong remains attractive to investors. To reinvigorate the economy and improve people’s livelihoods, the Government and the business community should work together to attract enterprises and talent as the city moves towards a new chapter in governance and prosperity. 

Under the “One Country, Two Systems” principle, Hong Kong has a simple, low and transparent tax regime and a common-law system familiar to the international business community, contributing to a favourable business environment. Besides, as part of the rapidly developing Guangdong-Hong Kong-Macao Greater Bay Area (GBA) with a population of over 86 million, we enjoy the support of the Mainland as well as strong international connections, which are conducive to attracting businesses and talent. 

The backing of the Motherland is more than a slogan – the Central Government has expanded the scope of the Individual Visit Scheme for residents of various Mainland cities, showing its commitment to fully supporting Hong Kong. These measures will serve to benefit tourism-related sectors and boost the economy. 

The business sector and SMEs are the lifeblood of our economy, and economic development is closely related to people’s livelihoods. Over the past few years, the authorities introduced several measures like the Special 100% Loan Guarantee and the principal moratorium arrangement to support businesses and help them through the pandemic. Similarly, the business community continues to support these policy measures and stay united with Hong Kong people by actively promoting work to improve livelihoods.

At a recent seminar hosted by several business organizations and HKGCC, participants revealed that chambers and companies invested over HK$8.8 billion in alleviating poverty and improving people’s livelihoods. These organizations also provided 45 hectares of land for public housing, transitional housing and light public housing, totalling more than 30,000 residential units.

While housing has always been a challenging issue, such efforts are a commendable way for the business community to give back to society and serve as a realization of the “investing small for big returns” principle. Having a stable home and better life means the public can build and increase their purchasing power, leading to business opportunities and stimulating the economy.

While it is natural for companies to focus on growing their business, collaborating with the Government in order to boost the economy and improve livelihoods is the only way to achieve a win-win outcome.

Jeffrey Lam
jeffrey@jeffreylam.hk