For Immediate Release
The Hong Kong SAR business delegation to Laos, Cambodia and Vietnam, led by Chief Executive John Lee from 28 July to 2 August, provided a valuable opportunity to learn more about these important ASEAN countries and, at the same time, promote Hong Kong’s business advantages for companies setting up here and in the Greater Bay Area.
Commenting on the trip upon returning to Hong Kong, Agnes Chan, Chairman of the Hong Kong General Chamber of Commerce (HKGCC), said she was impressed by the policymakers and industry leaders she met on the mission.
“The Business of Business is People,” she said. “By building closer and long-lasting relationships, we can better understand each other and lay a solid foundation for shared prosperity. We were very lucky to be able to meet leaders at the highest level during the trip, which reflected the importance they placed on the delegation.”
On 31 July, Chan signed a Memorandum of Understanding (MoU) with the Cambodia Chamber of Commerce in Phnom Penh and another MoU in Hanoi on 1 August with the Vietnam Chamber of Commerce and Industry to reinforce HKGCC’s connections and collaboration with the two countries. Many of the delegates on the trip also signed MoUs with other organizations and companies, bringing the total number of MoUs signed to 55.
Several members of HKGCC’s General Committee, including HKGCC Deputy Chairman Guy Bradley, joined the trip. “We are delighted to see the unwavering support of these countries for Hong Kong’s entry into the RCEP, which would bring a raft of advantages for our home city and our trade partners. It would no doubt also enhance Hong Kong’s international aviation hub status and benefit our various sectors, including tourism,” he said.
Former HKGCC Chairman Betty Yuen said Laos, Cambodia and Vietnam have all set net-zero targets by 2050 and possess rich renewable energy resources that will contribute to sustainable development. As Chairman of CLP Power Hong Kong Limited, she said: “CLP is well placed to assist in such development given our strengths in the energy sector, our financial capabilities and our successful track record in executing cross-border projects.”
Besides assisting Hong Kong companies expand their international markets, the mission aimed to help the three countries better understand Hong Kong’s advantages.
"We highlighted Hong Kong's diverse roles. Besides offering wealth management services and acting as a conduit for ASEAN businesses to enter the Greater Bay Area and China, we also serve as a hub to attract Chinese and international investments back into ASEAN countries," stated General Committee Member Jacob Kam.
During meetings with the regional governments of the three countries, all were very supportive and attached great importance to working with Hong Kong businesses.
Delegates unanimously agreed that the trip elevated Hong Kong’s regional presence and global outreach. “It has helped create more favourable conditions for bilateral exchanges in different areas via the many agreements signed and the support garnered for Hong Kong to join RCEP, among other things,” said General Committee Member Sun Yu. “Both Hong Kong and ASEAN businesses stand to benefit from this.”
After the trip, some delegates expressed interest in setting up business in the rapidly growing economies. General Committee Member Victor Lam said he hopes to expand his operations into the three countries and that companies there could also set up business in Hong Kong.
“Hong Kong enterprises and start-ups can provide employment opportunities and benefit from the young, educated workforce. In the other direction, ASEAN businesses can enjoy the sound legal system, international access and incentives that Hong Kong has to offer, making it a win-win outcome,” he said.
Summing up the mission, Chan said she is confident that the outcomes of the visit will elevate the cooperation between Hong Kong and the ASEAN countries to new heights. “We will disseminate the insights gained during this trip among the Hong Kong business community, as both Hong Kong and ASEAN businesses stand to benefit from the information and collaboration.”
Captions:
Photo 1: The Hong Kong business delegation to Laos, Cambodia and Vietnam signed 55 agreements and managed 30 meetings during the mission from 28 July to 2 August.
Photo 2: HKGCC Chairman Agnes Chan and Cambodia Chamber of Commerce President Neak Oknha Kith Meng signed an MoU in Phnom Penh on 31 July, witnessed by Cambodia’s Deputy Prime Minister Sun Chanthol and Hong Kong’s Chief Executive John Lee.
Photo 3: HKGCC Chairman Agnes Chan, and the Vietnam Chamber of Commerce and Industry Vice Chairman Nguyen Quang Vinh, signed an MoU in Hanoi on 1 August, witnessed by Vietnam Deputy Prime Minister Tran Luu Quang and HKSAR Chief Executive John Lee.
Media inquiries: Please contact Ms Chloe Lee at 2823-1297 / [email protected]