The Bulletin

Chamber in Review

The Bulletin. September 2024

International Connections

We had an informative meeting on 16 August with representatives from the Ministry of Industrial Development and Entrepreneurship of Sabah State of Malaysia, led by Minister the Hon. Datuk Phoong Jin Zhe. Chamber Chairman Agnes Chan welcomed the delegation.
Phoong was enthusiastic about the potential benefits of a collaboration between Hong Kong and Sabah to expand trade and investment. Sabah’s abundance of quality seafood and agricultural produce could find a lucrative market in Hong Kong, which is an essential market for local industries. However, many enterprises are SMEs and lack the network and skills to upscale their business.
Matrade Trade Commissioner Yazrin Syakhairi Mahlan emphasized the significance of entering the Hong Kong market for businesses. He stated that it is not just about the city’s population of 7 million but also about its role as a hub for the GBA and launching pad for firms to access global markets.
An added advantage of Malaysian products is that most carry the JAKIM Halal certification, which Phoong said is the gold standard for Halal products. He explained that Halal products are not only related to food but also lifestyle, such as cosmetics, shampoos, pharmaceuticals and even medical devices.
Chan pointed out that Hong Kong is doing well in Islamic finance and is trying to attract more tourists and talent from the Middle East and ASEAN nations. However, more must be done to ensure the city has adequate Halal-certified restaurants, products and services to attract Muslim visitors and businesses.

It was a pleasure to welcome H.E. Abdoulkader Kamil Mohamed, Prime Minister of Djibouti, to the Chamber on 23 August. Chamber Chairman Agnes Chan, CEO Patrick Yeung, General Committee Member Victor Lam, and leaders of the Asia, Africa, and Middle East Committee received the delegation.
With its strategic location and prominent maritime traffic, Djibouti is a crucial gateway to markets in Africa, the Middle East and Europe, said Prime Minister Mohamed. H.E. Abdallah Abdillahi Miguil, Ambassador of Djibouti to China, emphasized the country’s trade agreements with various nations, allowing its manufactured goods to access a wider market.
He Lie Hui, Advisor to the President, explained the benefits for investors in Djibouti as the freest economy in Africa with a stable currency pegged to the US dollar. Ambassador Miguil noted the presence of an official agency offering one-stop services for foreign investors looking to establish a business in Djibouti.

Asia, Africa & Middle East Committee

Sabah Seeks to Do More Business with Hong Kong

Phoong was enthusiastic about the potential benefits of a collaboration between Hong Kong and Sabah to expand trade and investment. Sabah’s abundance of quality seafood and agricultural produce could find a lucrative market in Hong Kong, which is an essential market for local industries. However, many enterprises are SMEs and lack the network and skills to upscale their business.

Matrade Trade Commissioner Yazrin Syakhairi Mahlan emphasized the significance of entering the Hong Kong market for businesses. He stated that it is not just about the city’s population of 7 million but also about its role as a hub for the GBA and launching pad for firms to access global markets.

An added advantage of Malaysian products is that most carry the JAKIM Halal certification, which Phoong said is the gold standard for Halal products. He explained that Halal products are not only related to food but also lifestyle, such as cosmetics, shampoos, pharmaceuticals and even medical devices.

Chan pointed out that Hong Kong is doing well in Islamic finance and is trying to attract more tourists and talent from the Middle East and ASEAN nations. However, more must be done to ensure the city has adequate Halal-certified restaurants, products and services to attract Muslim visitors and businesses.

Japan-HKSAR-GBA Business Triangle

Nishiumi Shigehiro, Deputy Consul General of Japan, hosted a dinner on 2 August for Chamber CEO Patrick Yeung, China Committee Chairman Felix Lee and Petrina Tam, Convenor, GBA Working Group, to discuss expanding cooperation and learn more about the GBA. They also discussed opportunities for Hong Kong and Japanese companies in Hong Kong and the GBA.

Exploring Economic Opportunities in Djibouti

With its strategic location and prominent maritime traffic, Djibouti is a crucial gateway to markets in Africa, the Middle East and Europe, said Prime Minister Mohamed. H.E. Abdallah Abdillahi Miguil, Ambassador of Djibouti to China, emphasized the country’s trade agreements with various nations, allowing its manufactured goods to access a wider market.

He Lie Hui, Advisor to the President, explained the benefits for investors in Djibouti as the freest economy in Africa with a stable currency pegged to the US dollar. Ambassador Miguil noted the presence of an official agency offering one-stop services for foreign investors looking to establish a business in Djibouti.

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