The Bulletin

Chamber in Review

The Bulletin. March 2025

International Connections

We had a useful discussion on Kazakhstan’s business climate and developments with Almas Seitakynov, Consul General of the Republic of Kazakhstan, on 13 February.
Seitakynov explained that FDI into the country represents 61% of all FDI into Central Asia, with the Netherlands by far the largest investor with US$71 billion in projects, followed by the U.S., Switzerland and China.
Kazakhstan’s strategic location gives it access to major markets. It has been expanding its sea, rail, road and air facilities as its importance on the Belt and Road also increases. The nation has also been attracting investments in financial and professional services, including from Hong Kong companies.
He also mentioned the Astana International Forum, which takes place from 29-30 May 2025. This year’s theme revolves around the shared responsibility for building a better world.

Youssouf Moussa Dawaleh, President of the Chamber of Commerce of Djibouti, called on the Chamber on 17 January to discuss investment and business opportunities in this strategically located country in the Horn of Africa.
Dewan Saiful Alam, Chairman of the Asia, Africa and Middle East Committee, along with Vice Chairmen Yolane Japhet and Zaman Minhas Qamar, welcomed the delegation and recapped discussions from last year’s visit by Djibouti’s Prime Minister, H.E. Abdoulkader Kamil Mohamed.
Dawaleh highlighted Djibouti’s role as a critical gateway for transshipments to the surrounding landlocked African hinterland. He also invited the Chamber to consider leading a delegation to Djibouti, allowing businesses to explore the opportunities firsthand.

It was a pleasure to welcome Seizo Tsuji, Director of the Business Establishment Section, Wakayama Prefecture Government, and his colleagues to the Chamber on 19 February. They were greeted by CEO Patrick Yeung, Asia, Africa & Middle East Committee Chairman Dewan Saiful Alam, Vice Chairman Zaman Minhas Qamar and Retail & Tourism Committee Vice Chairman Bella Chhoa.
The two sides exchanged views on the hotel investment environment in Wakayama Prefecture and Japan’s general investment landscape in Japan.
Wakayama Prefecture, located in the Kansai region, is about an hour from Kansai International Airport. Despite its proximity to the metropolis, the prefecture enjoys abundant natural beauty, a scenic southwest coastline facing the Pacific Ocean, and rich traditional culture and craftsmanship.
Although Wakayama has attracted many tourists, particularly from China, after the pandemic, only 25% of the 20 million visitors opted to stay overnight. As explained by Tsuji, the prefecture’s hotel industry is dominated by family-owned private onsen hotels, which have limited guest capacity.
To encourage overnight tourism, the Wakayama prefecture government has been working on developing relevant hotel infrastructure, including extending the runway of Nanki-Shirahama Airport to receive international flights by 2035 and offering tax incentives and value-added services to attract luxury global hotel chains to enter Wakayama.
Yeung said hotel infrastructure was necessary to capture overnight visitors, especially with higher tourist numbers driven by the yen depreciation. He also suggested that the government consider drawing Gen-Z tourists by encouraging and regulating Airbnb facilities.

Asia, Africa & Middle East Committee

Business Opportunities in Kazakhstan

We had a useful discussion on Kazakhstan’s business climate and developments with Almas Seitakynov, Consul General of the Republic of Kazakhstan, on 13 February.

Seitakynov explained that FDI into the country represents 61% of all FDI into Central Asia, with the Netherlands by far the largest investor with US$71 billion in projects, followed by the U.S., Switzerland and China.

Kazakhstan’s strategic location gives it access to major markets. It has been expanding its sea, rail, road and air facilities as its importance on the Belt and Road also increases. The nation has also been attracting investments in financial and professional services, including from Hong Kong companies.

He also mentioned the Astana International Forum, which takes place from 29-30 May 2025. This year’s theme revolves around the shared responsibility for building a better world.

More details of the forum can be found here https://astanainternationalforum.org/

Djibouti: Gateway between Africa and the World

Dewan Saiful Alam, Chairman of the Asia, Africa and Middle East Committee, along with Vice Chairmen Yolane Japhet and Zaman Minhas Qamar, welcomed the delegation and recapped discussions from last year’s visit by Djibouti’s Prime Minister, H.E. Abdoulkader Kamil Mohamed.

Dawaleh highlighted Djibouti’s role as a critical gateway for transshipments to the surrounding landlocked African hinterland. He also invited the Chamber to consider leading a delegation to Djibouti, allowing businesses to explore the opportunities firsthand.

Exploring Investment in Wakayama

The two sides exchanged views on the hotel investment environment in Wakayama Prefecture and Japan’s general investment landscape in Japan.

Wakayama Prefecture, located in the Kansai region, is about an hour from Kansai International Airport. Despite its proximity to the metropolis, the prefecture enjoys abundant natural beauty, a scenic southwest coastline facing the Pacific Ocean, and rich traditional culture and craftsmanship.

Although Wakayama has attracted many tourists, particularly from China, after the pandemic, only 25% of the 20 million visitors opted to stay overnight. As explained by Tsuji, the prefecture’s hotel industry is dominated by family-owned private onsen hotels, which have limited guest capacity.

To encourage overnight tourism, the Wakayama prefecture government has been working on developing relevant hotel infrastructure, including extending the runway of Nanki-Shirahama Airport to receive international flights by 2035 and offering tax incentives and value-added services to attract luxury global hotel chains to enter Wakayama.

Yeung said hotel infrastructure was necessary to capture overnight visitors, especially with higher tourist numbers driven by the yen depreciation. He also suggested that the government consider drawing Gen-Z tourists by encouraging and regulating Airbnb facilities.

Europe Committee

Sustainable Infrastructure: Hong Kong’s Future

Hong Kong boasts several notable records, one of the latest being the city's deepest, longest and largest sub-sea road tunnel connecting Tuen Mun to the Chek Lap Kok Link. The extraordinary project was carried out by Dragages Hong Kong.

Delving into the company’s technology and philosophy, Etienne Fayette, Head of Digital, Innovation and Transformation at Dragages Hong Kong, spoke at the Europe Committee meeting on 25 February, along with Kelvin Choi, Deputy Engineering Director.

Reducing carbon emissions in construction is a collective goal that Dragages Hong Kong shares with industry players in both the public and private sectors. Fayette said the company incorporates eco-design and low-carbon materials into its operations to promote sustainable building practices and actively supports biodiversity at its worksites. He also noted that the company had gained tangible benefits from integrating big data and AI into construction operations, enhancing safety and reliability.

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