In a rapidly evolving global economy, the importance of multi-pronged collaboration between leading international business hubs cannot be overstated. The Singapore-Hong Kong Business Roundtable emerged as a beacon of this spirit, bringing together two of Asia’s top financial capitals for productive exchanges and agreements.
Co-organized by the Chamber and the Singapore Business Federation (SBF), the event on 14 January welcomed distinguished guests Singapore Deputy Prime Minister Gan Kim Yong, HKSAR Secretary for Commerce and Economic Development Algernon Yau, HKGCC Chairman Agnes Chan, SBF Chairman Lim Ming Yan and Singapore’s Consul General to Hong Kong Ong Siew Gay.
A significant highlight of the roundtable was the signing of a Memorandum of Understanding (MoU) between the Chairmen of HKGCC and SBF, symbolizing the shared commitment to nurturing an environment where businesses can thrive in the global marketplace.
“The two economies share a robust and constructive partnership as global leaders in several key sectors and as gateways to wider markets in our respective regions. We will continue to support Hong Kong businesses in expanding their presence in international markets, with ASEAN being a key focus going forward,” said Chan.
SBF Chairman Lim Ming Yan stated: “The Singapore-Hong Kong relationship remains a cornerstone for trade and investment in Asia. Through platforms such as the business roundtable and initiatives such as our partnership with HKGCC, we are building a foundation that empowers businesses to adapt, grow and thrive in an interconnected global economy.”
Following the signing of the MoU, participants engaged in enlightening panel discussions. The first talk, moderated by Chamber CEO Patrick Yeung, focused on “Digital Finance, Innovation and Entrepreneurship.”
Sebastian Paredes, Head of North Asia at DBS, and WeLab Chairman Prof. KC Chan explored Singapore and Hong Kong’s cross-border transaction systems in their roles as leading financial hubs, regulatory innovation, crypto assets, and the need for enhanced financial integration and data-sharing to benefit decision-makers and customers.
Mark Lee, CEO of Sing Lun Holdings, and Duncan Chiu, HKSAR Legislative Council member for Tech and Innovation, then discussed the proactive policies of both governments to foster innovation and cultivate start-up ecosystems in an effort to attract overseas entrepreneurs and promote local creativity.
With both economies ranking high in global competitiveness, market collaboration, as well as knowledge and talent sharing, are crucial for sustained growth as start-ups and unicorns seek expansion into Greater China and Southeast Asia.
During the second panel on “Supply Chains and Climate Change,” moderated by SBF CEO Kok Ping Soon, SS Teo, Chairman of Pacific International Lines, and Roberto Giannetta, Chairman of the HK Liner Shipping Association, concurred that collaboration, rather than competition, was essential in a world impacted by post-pandemic supply chain disruptions and geopolitical tensions.
They also unpacked the demand for green fuel, China's potential as a regional supplier and the expansion of green corridors in Asia to boost energy connectivity.
Examining sustainability in the construction industry, Henry Woon, Director at Atelier Ten, and Melanie Kwok, Assistant General Manager for Sustainability at Sino Group, illustrated the importance of adopting far-reaching green building practices and implementing innovative designs to prioritize energy efficiency with site-specific examples.
Additionally, they underscored the role of sustainable materials and technologies in reducing carbon footprints, advocating for a collective approach among stakeholders to drive meaningful change in environmental practices.