Chief Executive John Lee’s mission to Qatar and Kuwait underscored Hong Kong’s pivotal role as a global super-connector, linking China with emerging markets in the Middle East and beyond. The Government-led trip, with over 50 business leaders from Hong Kong and the Mainland, unlocked fresh opportunities, fostering common ground and a shared goal for cooperation.
The mission marked the Chief Executive’s second official tour of the Middle East, after Saudi Arabia and the UAE in 2023. Together with the HKGCC’s business mission to Bahrain last year, I am proud to say that the Chamber now has MoUs with five of the six Gulf Cooperation Council nations, demonstrating our growing international engagement.
Amid global VUCA (Volatility, Uncertainty, Complexity and Ambiguity) challenges, Hong Kong’s strengths – Vibrancy, Uniqueness, Connectivity and Agility – can bring opportunities. Its economic vibrancy, “One Country, Two Systems” framework, connectivity and adaptability not only sustain its relevance but elevate its role as a critical node in global trade and finance.
The success of our outreach initiatives in Kuwait and Qatar can be gauged by the 59 agreements inked across sectors such as finance, logistics and digital innovation. I had the privilege of signing MoUs on the Chamber's behalf with the Qatar and Kuwait chambers. These new partnerships reflect the growing trust in Hong Kong as a facilitator of international collaboration.
With high per capita income and young, dynamic workforces, Qatar and Kuwait are strategically pivoting from oil dependence toward innovation-driven economies – focusing particularly on technology, finance and sustainable development in their national development plans.
The most significant outcomes of the mission were enhanced government-to-government relationships and the deepening of financial and technological cooperation with Hong Kong and China. The new agreements in fintech – including advancements in AI and digital finance – burnish Hong Kong’s standing as a fast-growing centre of innovation.
They also highlight Hong Kong’s role as a significant value-added partner. Our city’s world-class legal system, free-flowing capital and low tax regime offer ideal conditions for Gulf investors entering China as well as Mainland businesses expanding into the Middle East.
Additionally, with Hong Kong home to world-class universities and a thriving professional services sector, there is immense potential for educational exchanges and workforce collaboration. The Belt & Road Scholarship, which encourages students from partner regions to study in Hong Kong, is another example of how the city fosters long-term relationships.
As the Middle East undergoes profound economic transformation, its rise as a strategic partner coincides with a critical juncture in global trade. Leveraging Hong Kong’s competitive advantages and strong Mainland ties, the business community is uniquely positioned to unlock opportunities in these vibrant markets amid an increasingly complex world order.
Agnes Chan
chairman@chamber.org.hk