Reflecting on Hong Kong’s recent mission to Laos, Cambodia and Vietnam, I am filled with optimism about the potential it has unveiled for mutual investment opportunities. 

With 55 MoUs signed in various fields, the journey significantly strengthened trade, people-to-people exchanges and cooperation between our city and ASEAN. The mission also reconfirmed support for Hong Kong’s bid for inclusion in the Regional Comprehensive Economic Partnership (RCEP), given the city’s close ties with RCEP members.

From Laos’ burgeoning tourism industry to Cambodia’s competitive manufacturing base and Vietnam’s booming tech ecosystem, these rapidly growing economies offer a host of avenues for Hong Kong companies. It was encouraging to speak with several HKGCC members in these countries, who shared the success stories of their business collaborations with local partners. I also encountered many second- and third-generation Chinese businesspeople based in Phnom Penh who spoke of their strong connections with Hong Kong and the Mainland.

As emphasized during our high-level meetings with government leaders in each country, Hong Kong’s expertise in finance, trade, and infrastructure can significantly enhance the development of these nations. Furthermore, the collaboration between business communities in the Greater Bay Area and ASEAN signals a deeper expansion of trade and relationships in the region, with Hong Kong as a super-connector.

Attracting students from various corners of the world is imperative to foster an international learning environment in Hong Kong. The Hong Kong Polytechnic University has forged agreements with educational institutions in Vietnam and Laos to achieve this. Additionally, the Chief Executive has extended a warm invitation to ASEAN students, encouraging them to pursue their academic aspirations through the Belt and Road Scholarship for university education in Hong Kong. 

Connecting through initiatives such as cultural events is equally crucial. In Cambodia, Chinese Ambassador Wang Wenbin explained that 2024 signifies a pivotal year for cultural exchange. For instance, Phnom Penh hosted the inaugural Hong Kong Film Gala in July, uniting distinguished filmmakers and celebrities from both locations.

In a recent survey of the Chamber’s Asia, Africa & Middle East Committee, members ranked ASEAN as their key area of interest for the upcoming year. As a result, we have planned a series of seminars in the coming months focusing on ASEAN countries. The first event will be held later this month and will focus on Vietnam. We plan to send delegations to Cambodia and Vietnam in October to build on the MoUs signed with the chambers of commerce there, and we have also invited their leaders to the HKGCC Hong Kong Business Summit 2024 in November.

I strongly believe that “The Business of Business is People.” The latest HKSAR ASEAN mission beautifully reflects this while underscoring Hong Kong’s determination to expand its economic influence beyond borders.

Agnes Chan

[email protected]