Jeffrey Lam is a familiar face in the media, at business forums and as the Chamber’s LegCo Representative, consistently championing the interests of the business sector and offering practical recommendations to the Government to support companies and Hong Kong’s development. During the July edition of our “Dialogue with the General Committee” series, he highlighted the importance of adapting to the ever-changing business landscape.
As Managing Director of Forward Winsome Industries Limited, Lam observed that Hong Kong has long played a pivotal role in national development.
“Back in the 1960s, Hong Kong served as the region’s export hub for manufactured goods – from plastics and electronics to textiles and watches. My father established a factory in Guangzhou to produce yellow rubber ducks for export,” he explained.
Besides making significant investments in the Mainland, he noted that Hong Kong businesses have also introduced a wide range of imported goods since China’s Reform and Opening-up policy in the 1970s, significantly improving people’s livelihoods.
Today, Hong Kong offers a stable environment and enjoys lower tariffs than its regional competitors, including Vietnam, Thailand and Cambodia. “While Indonesia may have a lower tariff rate, Hong Kong holds distinct advantages in efficiency and its close ties with the Mainland,” said Lam.
Amid ongoing tariff disputes, he highlighted the need for Hong Kong businesses to explore new growth drivers, such as logistics and healthcare. For instance, solar energy storage technology shows tremendous promise in the Middle East. He also touched on his recent visit to France, where he explored the development of the aircraft dismantling and recycling industry.
At the same time, Lam said Hong Kong should build on its established strengths. “Thanks to trade fairs and sports events, visitor numbers have already rebounded to 90% of pre-pandemic levels,” he stated. “Recently, a buyer told me that Hong Kong’s trade fairs are among the best in the world!”
He pointed out that with new facilities like Kai Tak Sports Park, the city is well-equipped to host major international events, including the Asian Games.
During the Q&A session that followed, Lam explained that improving connectivity is a crucial factor in attracting businesses and investment. To generate new opportunities in the rapidly expanding e-commerce market, the city needs to operate more flights to both the Mainland and international cities, especially in emerging markets, to help businesses broaden their reach and better understand the needs of potential partners.
“Many Middle East businesses are interested in investing in Hong Kong, and we should actively explore collaboration opportunities with them,” he added.