Chairman's Desk
Strengthening Hong Kong-Singapore Ties

I was honoured to host the Singapore-Hong Kong Business Roundtable last month, which underscored the robust relationship between the two economies and the Chamber’s dedication to deepening and expanding international connections. 

Over the years, Hong Kong and Singapore have developed a strong partnership marked by bilateral agreements aimed at enhancing economic cooperation despite being seen as rival cities. The roundtable highlighted our shared vision for a sustainable future focused on technological innovation, digital transformation and nurturing entrepreneurship.

The event was graced by Deputy Prime Minister of Singapore Gan Kim Yong, HKSAR Secretary for Commerce and Economic Development Algernon Yau, Singapore Consul General to Hong Kong Ong Siew Gay, and Lim Ming Yan, my esteemed counterpart from the event co-organizer Singapore Business Federation (SBF). 

This is the Chamber’s second fruitful collaboration with SBF, which this time included signing a Memorandum of Understanding (MoU) between the two organizations. The agreement reflects our commitment to fostering an environment that empowers businesses on each side to thrive in an interconnected global economy. Our cities serve as strategic gateways to wider markets in our regions, acting as a linchpin for trade and investment across Asia. 

Concurrently, the Asia Financial Forum (AFF) in Hong Kong provided an excellent backdrop for amplifying HKGCC’s international objectives. The Chamber has led several overseas missions to various regions, particularly in the Middle East and Southeast Asia, connecting businesses with diverse markets. More are planned this year, underscoring our commitment to growing Hong Kong’s global reach and investment opportunities.

The two panel discussions during the roundtable explored important areas for cooperation. The first talk threw light on how digital finance was transforming business models and streamlining financial services, delving into cross-border transaction systems, regulatory innovation, and the benefits of financial integration and data-sharing. 

Such technological advancement is also empowering start-ups and entrepreneurs as our governments proactively foster the growth of innovation and technology. It is essential for both economies, which rank highly in global competitiveness, to prioritize the sharing of knowledge and talent. This approach will be vital for sustained growth, especially as start-ups and unicorns eye expansion in the Mainland, ASEAN and beyond.

The second conversation focused on global supply chains and climate change, touching on green fuel supply, increasing green corridors in Asian waters, and sustainable practices in the construction industry. As we navigate a world rife with geopolitical tensions, the need for resilience and adaptability has never been more crucial. 

The dynamic alliance between Hong Kong and Singapore drives economic growth and enhances global outreach. I am confident this partnership will continue to flourish, unlocking opportunities and creating benefits for our businesses and the broader communities we serve.

 

Agnes Chan
chairman@chamber.org.hk

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