Bulletin: Congratulations on being elected HKGCC Chairman. As you step into this new role, what is your primary message to the HKGCC members?
Jacob Kam: I am deeply honoured to assume the role of Chairman of the Chamber. It is a tremendous privilege, and I want to extend my sincere thanks to our General Committee members and the wider membership for the trust and confidence you have placed in me. You are the backbone of this historic institution.
As we embark on this next chapter together, I commit to ensuring that the Chamber continues to be the definitive Voice of Business in Hong Kong. For 165 years, the Chamber has grown alongside Hong Kong and its business community, playing a vital role in the city’s development and helping to power its future.
That legacy gives us a strong platform, but our focus is firmly on what lies ahead. Our mission remains clear: to promote, represent and safeguard the interests of our members. At the same time, we will continue to provide vital support, expand networks, and deliver comprehensive business support, including training for our members to thrive.
B: Looking ahead, what is your outlook for Hong Kong’s economy?
JK: Looking ahead, I have great confidence in Hong Kong’s economic trajectory. While we have faced significant global economic headwinds in recent years, our business community has demonstrated remarkable resilience and adaptability. Both vital and lasting traits that we should all take great pride in.
We have reached a pivotal turning point. As the global macroeconomic and geopolitical landscape shows signs of greater stability, the outlook is becoming increasingly positive. Hong Kong’s position as an international financial, trade and shipping centre remains stronger than ever.
At the same time, the development of the Northern Metropolis, the deepening integration of the Greater Bay Area, together with the opportunities arising from the Belt and Road Initiative, are creating new avenues for growth. Emerging markets across Central Asia, the Middle East and ASEAN offer unprecedented growth opportunities for Hong Kong businesses to expand their reach and strengthen their global competitiveness.
B: What key pillars will anchor your strategic agenda during your tenure as Chairman?
JK: As I look to the future, my vision for moving us forward – which relies on the vital support of our members – is anchored in three core pillars.
The first pillar is maximising Hong Kong’s unique role as a global ‘super connector’ and ‘super value-adder.’ Fulfilling this role does more than just ensure Hong Kong’s continued macroeconomic success; it actively generates opportunities for our business community.
We achieve this through empowerment and insight. By keeping our members well informed about the evolving business environments internationally and within the Chinese Mainland, and by helping them navigate new policies and strategic directions, they are directly positioned to identify and capture significant growth opportunities for themselves.
To make this actionable, we will continue to leverage the Chamber’s extensive network of international chambers and trade representatives. Our goal is to seamlessly facilitate a two-way flow: ‘bringing in’ foreign investment while simultaneously helping local and Chinese Mainland enterprises ‘go global.’ Ultimately, by encouraging deeper collaboration between Hong Kong and the Chinese Mainland, we can help our businesses explore viable prospects both at home and abroad.
My second pillar focuses on helping Hong Kong align and actively serve our nation’s 15th Five-Year Plan. There are substantial, concrete steps we can take to seamlessly align with this strategy. For example, we must support the development of the Northern Metropolis, which is absolutely vital for cultivating a larger and stronger innovation and technology ecosystem right here in Hong Kong. At the same time, our economic development is intrinsically linked to deeper integration within the Greater Bay Area. The GBA provides the crucial resources, physical space, and massive customer base that Hong Kong businesses need to scale. Deepening this integration will organically create tremendous opportunities for our members while elevating the entire region to be far more globally competitive.
As we look outward to expand our business footprint – particularly into Belt and Road countries – we must also elevate Hong Kong’s strategic positioning as the ‘Ten Centres’, ‘Two Hubs’ and ‘One Ecosystem’*. Enhancing these core strengths directly aligns with the development needs of Belt and Road nations. By elevating these centres, we can provide world-class services that translate directly into better business opportunities for our members.
Turning to my third pillar, we must champion investment in Innovation and Technology, with a specific focus on the forward-looking development of what we call ‘AI+’.
We all recognize that I&T is the undeniable engine of our future growth. It is fundamentally transforming multiple sectors – reshaping how we operate, how we deliver value to our customers, and even how customers choose to interact with businesses. Because the landscape is shifting so rapidly, my vision is for the Chamber to take a highly proactive role in informing and enabling our members to navigate this transformation successfully. It is not just about understanding new technology; it is about adopting it to stay competitive.
To achieve this, the Chamber will amplify its efforts to promote practical training, helping enterprises seamlessly integrate Artificial Intelligence and related technologies into their day-to-day commercial operations. Through nurturing emerging industries, accelerating digital transformation and enhancing service quality, we aim to unlock new opportunities through “AI+” and strengthen the productivity and global competitiveness of Hong Kong businesses.
I look forward to working closely with the General Committee and our members to build consensus and turn challenges into progress. Together, we can write the next chapter of Hong Kong’s economic prosperity and development.
B: This year, the Government is set to finalise its first-ever “Five-Year Plan” to align with the national “15th Five-Year Plan.” How does the Chamber foresee this plan transforming Hong Kong’s existing operational model?
JK: This upcoming Five-Year Plan is of historic significance for Hong Kong. It is not only the first medium-to-long-term development blueprint for the whole city but also marks a shift from the “alignment approach” to one of “proactive planning”. The Chamber welcomes this approach, as it will provide businesses with greater clarity and stability.
At its core, the plan is about transformation and uplevelling. The Chamber fully supports the Government’s vision to strengthen the “Ten Centres”, develop the “Two Hubs” and cultivate the “One Ecosystem”. In an increasingly competitive global environment, we can no longer rely solely on our traditional strengths. We must build on them through innovation and new growth drivers.
We must continue to strengthen our position as an international financial, trade, shipping and aviation centre, translating these strengths into powerful new drivers of sustainable development.
Beyond strengthening our offshore Renminbi business and risk management capabilities, we should leverage our international advantages to contribute to the development of global industry rules and standards, further enhancing Hong Kong’s strategic significance in the global economic and trade landscape.
We must also deepen integration with the Chinese Mainland and the Greater Bay Area through closer “alignment of rules” and “harmonisation of mechanisms”, to enable a seamless flow of logistics, people, capital, and information, transforming the GBA’s strategic depth into a powerful engine for economic prosperity.
At the same time, major initiatives such as the Northern Metropolis, together with advances in innovation and technology, particularly artificial intelligence, will help drive industrial upgrading and strengthen Hong Kong’s long-term competitiveness.
B: Hong Kong recorded strong economic growth in the first quarter, driven primarily by private consumption and exports. Looking ahead to the rest of the year, do you believe this upward trend can be maintained, and what are the key drivers behind this?
JK: The Chamber is encouraged by the 5.9% year-on-year real GDP growth in the first quarter of 2026. As the strongest quarterly performance in nearly five years, it demonstrates Hong Kong’s economic resilience and reinforces our confidence that the recovery is firmly on track. Looking ahead, we believe this positive momentum can be sustained with the ongoing hard work of businesses and communities in Hong Kong.
Our confidence is underpinned by several encouraging trends. Despite an increasingly complex global environment, Hong Kong’s international appeal remains strong. The city has regained its position as the world’s freest economy and leading IPO market, while maintaining its status as the world’s third-largest financial centre. These achievements reaffirm Hong Kong’s strengths as a global business hub, supported by world-class infrastructure, the free flow of capital and information, and the unique advantages of ‘One Country, Two Systems’.
Further supporting this outlook are strong demand for AI-related products, a steady recovery in inbound tourism and increasingly active cross-border financial activities.
B: What specific measures will the HKGCC implement to actively expand upon its global economic and trade network and strengthen international connections?
JK: As the Voice of Business, the Chamber remains firmly committed to powering the future of Hong Kong. By expanding our international connections and strengthening our advocacy efforts, we aim to reinforce Hong Kong’s global competitiveness and help our members seize new opportunities.
A key part of this effort is our extensive programme of business missions, which connect members with high-potential markets across the Greater Bay Area, other parts of Chinese Mainland, ASEAN, Europe and the Middle East. Last year alone, we signed six MoUs with chambers and business organisations in Singapore, Vietnam, Pakistan, Kuwait, Sweden and Finland, bringing our global co-operation network to nearly 70 MoUs worldwide.
These partnerships are more than symbolic agreements; they help businesses identify new opportunities and stay connected to evolving global market trends. More recently, we expanded our outreach to Central Asia, signing new MoUs in Kazakhstan and Uzbekistan to explore emerging opportunities for our members.
Ultimately, these efforts will help our members identify new opportunities and strengthen their international connections.
B: Having spent more than three decades with MTR and worked extensively on the global business stage, how will that international experience help you further strengthen HKGCC’s global connections?
JK: Drawing on over three decades of experience at MTR, I have navigated a highly diverse business landscape. While transportation is our core pillar, our footprint extends across property, retail, services, construction, and finance. This cross-sector exposure has given me a deep appreciation for how businesses in different sectors operate and allows me to connect with the varied needs of our Chamber members.
Because our operations intersect heavily with public policy and infrastructure development, I have experience in engaging government. I intend to leverage this insight to ensure the Chamber serves as a trusted, strategic bridge between the business community and policymakers, advocating for an open, competitive environment and pragmatic, forward-looking policies.
MTR’s strong presence in the Chinese Mainland and international markets aligns perfectly with the Chamber’s mandate. I look forward to utilising this global experience to expand our international linkages, connecting Hong Kong enterprises with cross-border and overseas opportunities while reinforcing Hong Kong’s role as a premier international business hub.
Ultimately, both MTR and the Chamber play integral roles in driving Hong Kong’s economic development – one through world-class infrastructure and connectivity, and the other by advancing the interests of the wider business community. I look forward to bringing these perspectives together to further strengthen Hong Kong’s position as a leading international city of commerce.
B: You have had a long association with the Chamber over the years. Looking back, how would you describe your journey with the Chamber, and what key lessons from that experience do you believe will prove most valuable as you lead the Chamber in the year ahead?
JK: It has been a rewarding journey. Over the years, I have had the privilege of serving as a General Committee member and, more recently, as Vice Chairman, which has given me a deep appreciation of the Chamber’s role and impact. What has stood out to me throughout this time is the Chamber’s role as the Voice of Business, bringing together the business community, government and wider society, and providing a trusted platform for dialogue and collaboration.
One of the key lessons I have learned is the importance of listening to members, understanding their evolving needs in a rapidly changing global environment, and ensuring their views are effectively reflected. Equally important is maintaining constructive and pragmatic dialogue with policymakers in an open and solutions-oriented manner to support Hong Kong’s long-term competitiveness. Throughout my involvement, I have been impressed by the Chamber’s effectiveness in this role, as well as the resilience and adaptability of Hong Kong businesses.
The experience has also reinforced the value of international connectivity. The Chamber plays an important role in helping businesses explore new opportunities through its international network and business missions. These initiatives connect members with both established and emerging markets, creating valuable opportunities for growth and partnership. As global engagement continues to recover, we look forward to further strengthening these connections and supporting our members’ international ambitions.
We see growing opportunities for Hong Kong, from the development of the Northern Metropolis to deeper connectivity with the Greater Bay Area and expanding links with emerging markets across the Middle East, Central Asia, ASEAN and other economic regions.
Against this backdrop, I look forward to building on this foundation by further strengthening the Chamber’s role as a unifying platform for the business community, helping enterprises connect, collaborate and capture opportunities across these markets, while reinforcing Hong Kong’s position as a leading international city for business and commerce. By empowering our members and embracing innovation, we are working together to power the future of Hong Kong.
* Ten Centres, Two Hubs and One Ecosystem
Ten Centres:
These ten centres cover both the traditional core advantages Hong Kong needs to solidify and the new high value-added domains it is making every effort to build.
• International Finance Centre
• International Shipping Centre
• International Trade Centre
• International Asset and Wealth Management Centre
• International Risk Management Centre
• High Value-Added Supply Chain Services Centre
• International Innovation and Technology Centre
• Centre for International Legal and Dispute Resolution Services
• Regional Intellectual Property Trading Centre
• Centre for Cultural Exchanges
Two Hubs:
This refers to Hong Kong’s irreplaceable role as a gateway and node within the global network and the nation’s “dual circulation” strategy.
• International Aviation Hub
• Global Offshore Renminbi (Yuan) Business Hub
One Ecosystem:
• Commodity Trading Ecosystem