For Immediate Release
In a significant move to strengthen economic ties between Asia’s key business hubs, the Hong Kong General Chamber of Commerce (HKGCC) and the Industries, Commerce & Investment Department Punjab (ICID) of Pakistan signed a Memorandum of Understanding (MoU) on 13 October to establish a framework for enhanced cooperation to promote trade, investment and economic collaboration.
The MoU aims to promote mutual benefits for business communities in Hong Kong and Punjab, Pakistan, by leveraging the incentives offered by the government of Punjab, Pakistan, and to fulfil Hong Kong’s role as a super-connector. The partnership will focus on facilitating business opportunities, exchanging vital market intelligence and organizing joint trade promotion initiatives.
Agnes Chan, Chairman of the Hong Kong General Chamber of Commerce, and Mr Chaudhry Shafay Hussain, Minister for Industries, Commerce & Investment for Punjab, signed the MoU at HKGCC’s office.
“This partnership marks an important step in connecting Hong Kong’s international business community with the immense potential of Punjab,” said Chan. “Our mission is to open doors for our members, and this MoU will provide a direct channel to explore new opportunities, foster understanding and drive growth between our two economies.”
Chaudhry Shafay Hussain, Minister of ICID, stated, “Many international companies are rapidly establishing industrial units in Punjab, where tax holidays, leased land in industrial zones and low-cost labour are available. Foreign investment is not only creating employment opportunities but also transferring advanced technologies to the province. This collaboration with HKGCC is an important development in attracting investment, promoting our exports and building lasting people-to-people links that will bring prosperity to both Hong Kong and Punjab.”
Media inquiries: Please contact Ms Chloe Lee at 2823-1297 / clee@chamber.org.hk