'Ties with Gulf countries give HK opportunities'
'Ties with Gulf countries give HK opportunities'
The Secretary for Commerce and Economic Development, Algernon Yau, says Middle Eastern countries have a strong demand for innovation and technology. Photo: RTHK
The Secretary for Commerce and Economic Development, Algernon Yau, says collaboration with the Gulf Cooperation Council (GCC) countries presents significant business opportunities for Hong Kong.
In an interview with RTHK's "Government and You", Yau said the GCC countries, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, are seeking development opportunities in fields such as professional services, finance, and innovation and technology -- where Hong Kong excels.
Yau stressed that Middle Eastern countries have a strong demand for innovation and technology, citing Saudi Arabia's plans to build a futuristic megacity.
The minister also noted that Hong Kong has assisted in organising roadshows, with two matchmaking sessions connecting 40 companies with various sectors. The Belt and Road Office has also attracted five Middle Eastern companies to establish operations in Hong Kong, demonstrating their confidence in the city.
Yau said a key task for the SAR government moving forward is to connect mainland enterprises with the global market, providing them the necessary knowledge about supply chains and information and enabling them to utilise Hong Kong as a regional headquarters or branch office to manage offshore trade and supply chains.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTHK
an hour ago
- RTHK
HK 'ready to fully support overseas push by NEV firms'
HK 'ready to fully support overseas push by NEV firms' John Lee says strategic AI and smart-driving companies here can work with NEV firms from the mainland to promote new quality productive forces. Photo: RTHK The chief executive said on Thursday the SAR will strengthen its capital market to fully support the development of new energy vehicle (NEV) companies from the mainland. Speaking at the International Automotive & Supply Chain Expo at AsiaWorld-Expo, John Lee said that in terms of production and consumption, the nation's NEV market is the largest in the world. "Hong Kong's international capital market and world-leading professional services can provide financing and overseas promotional services for the mainland's new energy vehicle firms," he said. "The city can also help foreign companies enter the enormous mainland market." Hong Kong, Lee said, will fully support the nation's work in promoting global cooperation in the industry's supply and manufacturing chains, as well as building an efficient logistics system. The government has been attracting strategic companies, such as in the artificial intelligence and smart driving technology fields, to set up in Hong Kong for two years now, and the chief executive said they can collaborate with NEV firms to promote new quality productive forces. Lee also said the administration will lead the green industries to boost sustainable development. By fostering the development of NEVs, such as subsidising private enterprises to install quick-charging facilities, he said the government is aiming to put in place sufficient charging facilities for 160,000 electric vehicles. The number of EVs at the end of last year was around 110,000.
RTHK
2 hours ago
- RTHK
'HK an ideal spot to raise funds for infrastructure'
'HK an ideal spot to raise funds for infrastructure' Finance chief Paul Chan says the SAR is moving fast to pioneer innovative financial models to attract more capital. Photo: RTHK Financial Secretary Paul Chan on Thursday said Hong Kong is well positioned to assist regions, especially those in the Global South, to raise funds to support large infrastructure projects. His remark came as the International Conference on Roads and Railways 2025 kicked off in Wan Chai, with some 30 speakers and panellists gathering to discuss the latest trends in the industry. Speaking at the event, Chan said the SAR is also moving fast to pioneer innovative financial models to attract more capital, such as the securitisation of infrastructure loans, a mechanism that transforms brownfield assets into investment products to support new greenfield projects. He noted that the city has already issued two such tranches totalling US$800 million to aid over 50 projects in the Middle East, Asia Pacific and Latin America, while its green bonds account for about half the total in Asia. "With a full suite of funding options, Hong Kong is where infrastructure projects from around the world could raise funds. This is particularly relevant for green and low-carbon infrastructure projects," he said. "In regions where the infrastructure funding gap remains urgent and significant, particularly in the Global South, Hong Kong offers practical and scalable ways to catalyse sustainable growth and accelerate the delivery of essential transport projects." Separately, the finance chief said the city is taking a lead in transit-oriented development (TOD), which refers to a planning approach that integrates high-density urban landscape with efficient public transport systems. Chan said the Northern Metropolis is a good example of TOD, with its Northern Metropolis Highway and the Northern Link set to drive housing and commercial services. He added that such an approach, if well-executed, can cut carbon emissions by up to 25 percent with the support of smart technology, such as EV charging networks and AI-optimised energy consumption. A site visit for conference participants will be organised on Saturday to showcase the city's featured road and railway projects, including the Central Kowloon Route and the Tung Chung Line Extension.
RTHK
4 hours ago
- RTHK
HK stocks down as investors gauge Sino-US trade deal
HK stocks down as investors gauge Sino-US trade deal Investors adopted a cautious attitude as details of the trade agreement between Beijing and Washington remain scarce. File photo: RTHK Hong Kong and mainland stocks fell on Thursday, led by declines in the rare-earth and tech sectors, as markets struggled to sustain positive momentum from Sino-US trade talks that provided few concrete details. A deal getting the fragile truce in the trade war back on track was reached after negotiators from Beijing and Washington agreed on a framework covering tariff rates, US President Donald Trump said on Wednesday. The deal removes Chinese export restrictions on rare-earths minerals and allows Chinese students access to US universities, but many specifics and detailed terms were absent, leaving investors cautious. China's blue-chip CSI300 Index fell 0.6 percent from a three-week high touched in the previous session. Hong Kong's benchmark Hang Seng index lost 0.7 percent to pull back from its highest level in nearly three months. The CSI Rare Earth Index slipped 0.8 percent from a seven-month high, and the semiconductor sector subindex slid more than 1 percent. In Hong Kong, the Hang Seng Tech Index lost 1.5 percent in early trades. (Reuters)
