HONG KONG SEEKS TO BUILD ON ASEAN RELATIONSHIP

The upcoming Belt and Road Summit in Hong Kong will highlight the territory's role in fostering economic cooperation with ASEAN by leveraging its strengths in finance, innovation, and green development.

The summit, co-organised by the Hong Kong Special Administrative Region (HKSAR) government and the Hong Kong Trade Development Council (HKTDC), will be held September 11-12, and is expected bring together over 80 key officials and business leaders to explore opportunities across the Belt and Road Initiative (BRI), with a special focus on ASEAN markets and Hong Kong’s unique position as a financial hub.

In August, Hong Kong’s chief executive John Lee led a delegation to Laos, Cambodia, and Vietnam, resulting in 55 cooperation MoUs, further strengthening the territory's network in Southeast Asia. The ASEAN region, which accounts for 13 per cent of Hong Kong’s foreign trade, remains a key focus for expansion under the BRI.

On day one of the summit, high-level discussions will centre on ASEAN markets, with participation from ministerial-level officials and business leaders. On day two, attention will shift to the Middle East, exploring further cooperation opportunities along the Belt and Road.

Previously, during his visit to Vietnam from July 31–August 2, Lee highlighted Hong Kong’s ambition to strengthen cooperation with Vietnam, a rapidly growing economy in Asia.

He emphasised that the territory's expertise as a global financial centre could support Ho Chi Minh City’s ambitions to become a regional financial hub.

"Vietnam's booming economy presents significant opportunities for foreign companies, and Hong Kong can serve as an ideal gateway to global and mainland Chinese investors," said Lee.

"We are committed to sharing our financial expertise, which can help develop Vietnam’s financial infrastructure," said Bonnie Y Chan, CEO of Hong Kong Exchanges and Clearing Limited noted, adding that collaboration among regional exchanges can draw in more global investors to Southeast Asia.

Phan Van Mai, Chairman of Ho Chi Minh City People’s Committee, also stressed the importance of drawing on Hong Kong’s experience to establish Ho Chi Minh City as a regional financial hub.

"We look forward to cooperation and learning from Hong Kong’s success as a global financial centre," Mai said.

As sustainability and green finance become increasingly crucial, the summit will debut a Green Chapter, focusing on green construction, finance, and innovation. Hong Kong has been at the forefront of green finance, with over $50 billion in green and sustainable debt issued in 2023. "Our thriving green finance market gives us a significant edge in sustainable development," said Dr Peter K N Lam, chairman of the HKTDC.

In addition to thematic sessions, the summit will feature business matching services, with more than 280 projects seeking investment and more than 800 one-on-one meetings. These sessions will focus on sectors such as energy, technology, urban development, and logistics, allowing project owners to present their ventures to potential investors from around the globe.

The exhibition area will showcase cutting-edge technologies and investment opportunities, further demonstrating Hong Kong’s role as a 'super connector' between China and international markets.

Source: VIR