InvestHK promotes Hong Kong as Asia's business launch pad in Eastern Europe and Middle East
HONG KONG SAR –
Media OutReach Newswire
– 10 May 2025 – Invest Hong Kong (InvestHK) announced today (May 10) that the Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, will embark on a series of visits to Istanbul, Türkiye; Budapest, Hungary; and Cairo, Egypt, some of the key economies along the Belt and Road, to strengthen economic ties and promote Hong Kong as the premier gateway for businesses to expand into the Mainland and the Asia-Pacific region.
Ms Lau said, 'Hong Kong's unique advantages as a global financial hub and Asia's business launch pad make it the perfect partner for enterprises from Türkiye, Hungary and Egypt in expanding into the Mainland, the Association of Southeast Asian Nations (ASEAN) markets, and further in Asia and beyond. Anchored in the Belt and Road Initiative, we look forward to fostering collaboration and showcasing how Hong Kong can drive their success across the region.'
She added that Hong Kong offers unmatched access to the Mainland and the Asia-Pacific region through initiatives such as the Greater Bay Area and its Free Trade Agreement with ASEAN. The city's business-friendly environment, free capital movement and a robust innovation and technology ecosystem hosting nearly 10 000 companies from overseas and the Mainland, and close to 4 700 start-ups, empowers businesses to innovate and grow.
Ms Lau will arrive in Istanbul tomorrow (May 11, Istanbul time) to engage with Turkish companies from various sectors which are interested in using Hong Kong as a springboard to grow across the Asia-Pacific region. She will speak at different events, including an Istanbul Chamber of Commerce Business Seminar, a Foreign Economic Relations Board of Turkey Business Seminar, and meet with Turkish media to highlight Hong Kong's business-friendly environment, which includes a low and simple tax regime, free capital flow, and a common law system under the 'one country, two systems' principle.
In 2024, Türkiye was Hong Kong's 30th largest trading partner, with bilateral merchandise trade between the two places amounting to HK$16.6 billion. The Hong Kong–Türkiye comprehensive avoidance of double taxation agreement signed in 2024 enhances tax certainty, facilitating cross-border transactions.
Since Türkiye's inclusion in Hong Kong's Dedicated Fund on Branding, Upgrading and Domestic Sales has supported Hong Kong companies expanding into the Turkish market. To further strengthen bilateral business ties, InvestHK set up a second office in Izmir in January 2025 to promote opportunities that Hong Kong offers to Turkish corporates seeking regional expansion.
On May 13 (Budapest time), Ms Lau will arrive in Budapest to meet major Hungarian companies keen on using Hong Kong as a regional hub for Asia-Pacific expansion. She will meet with media to update them on Hong Kong's latest business environment and opportunities. Ms Lau will also attend the Guangdong-Hong Kong-Macao Greater Bay Area Economic and Trade Cooperation Conference in Hungary.
In 2024, Hungary was Hong Kong's 33rd largest trading partner and around 9.4 per cent (HK$9.4 billion) of the total merchandise trade between Hungary and the Mainland routed through Hong Kong. Hong Kong serves as a gateway for Hungarian businesses targeting Asian markets, leveraging its role as 'super connector' under the Belt and Road Initiative, while Hungary benefits from Hong Kong's open investment environment. Hungarian manufacturing, technology, and healthtech companies can tap Hong Kong's vibrant innovation and technology ecosystem, backed by global capital and world-class universities, to grow in ASEAN and China's Greater Bay Area.
On May 17 (Cairo time), Ms Lau will visit Cairo to connect with global Egyptian businesses eager to establish operations in Hong Kong to seize Asia-Pacific opportunities. She will also attend the Guangdong-Hong Kong-Macao Greater Bay Area Economic and Trade Cooperation Conference in Cairo.
In 2023, InvestHK signed a Memorandum of Understanding with the General Authority for Investment and Free Zones of the Arab Republic of Egypt, pledging mutual co-operation on investment promotion exchanges and support. In 2024, bilateral merchandise trade between Hong Kong and Egypt amounted to HK$2.1 billion, up 5.4 per cent over 2023.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
5 days ago
- Daily Tribune
Trump 'open' to meeting Putin and Zelensky
US President Donald Trump is "open" to meeting his Russian and Ukrainian counterparts in Turkey, the White House said, after the two sides failed yesterday to make headway towards an elusive ceasefire. Delegations from both sides did, however, agree another large-scale prisoner exchange in their meeting in Istanbul, which in midMay also hosted their first round of face-to-face talks. Turkish President Recep Tayyip Erdogan proposed that Russian President Vladimir Putin, Ukrainian President Volodymyr Zelensky and Trump come together for a third round later this month in either Istanbul or Ankara. Putin has thus far refused such a meeting. But Zelensky has said he is willing, underlining that key issues can only be resolved at leaders-level. Trump wants a swift end to the three-year war.
Daily Tribune
5 days ago
- Daily Tribune
Russia, Ukraine swap peace roadmaps at Istanbul talks
Russia and Ukraine yesterday swapped plans for ending their three-year war during talks in Istanbul aiming to find a way out of Europe's largest conflict since World War II. Ukrainian President Volodymyr Zelensky said any deal must not 'reward' Russian leader Vladimir Putin, but said Kyiv was willing to take the 'necessary steps for peace'. Urged on by US President Donald Trump, Moscow and Kyiv have opened direct negotiations for the first time since the early weeks of Russia's invasion, but have yet to make progress towards an agreement. Monday's talks come a day after Ukraine carried out one of its most brazen and successful attacks ever on Russian soil -- using drones to hit dozens of strategic bombers parked at airbases thousands of kilometres behind the front line. A first round of meetings in Istanbul last month yielded a largescale prisoner exchange but no pause in the fighting, which has raged since Russia invaded in February 2022. Yesterday, the delegations 'exchanged documents through the Turkish side, and we are preparing a new release of prisoners of the war,' Zelensky said at a press conference in Vilnius just after the talks in Istanbul concluded. 'The key to lasting peace is clear, the aggressor must not receive any reward for war. Putin must get nothing that would justify his aggression,' he added. Opening the talks at the Ciragan Palace in Istanbul -- an Ottoman imperial house on the banks of the Bosphorus that is now a luxury five-star hotel -- Turkish Foreign Minister Hakan Fidan said the 'eyes of the entire world' were watching. Zelensky had said Kyiv was 'ready to take the necessary steps for peace', though the Russian and Ukrainian negotiating positions have long appeared irreconcilable.
Trade Arabia
7 days ago
- Trade Arabia
ACWA Power enters potential $10bn investment deals in Malaysia
ACWA Power, the world's largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, has announced the signing of memorandum of understanding (MoU) and strategic partnership agreements (SPA) with key Malaysian entities during the ASEAN-GCC Summit in Kuala Lumpur, Malaysia. These partnerships create a powerful synergy between Malaysia's innovative ecosystem and Saudi Arabia's energy transition expertise, supporting decarbonisation efforts, and establishing a strategic platform for sustainable development across Southeast Asia, said a statement. By unlocking unprecedented opportunities in renewable energy, green hydrogen, and advanced water solutions, these collaborations are fully aligned with Malaysia's National Energy Transition Roadmap (NETR), while contributing to Saudi Vision 2030's objectives for global climate leadership. Marco Arcelli, Chief Executive Officer of ACWA Power, said: "These strategic agreements represent a significant milestone in ACWA Power's expansion in Southeast Asia and reflect our commitment to supporting Malaysia and the broader ASEAN region's energy transition. By combining our global expertise in renewables, water desalination, and green hydrogen with the local knowledge of our Malaysian partners, we are not only accelerating the deployment of clean energy solutions but also fostering technology transfer, job creation, and long-term economic growth and social well-being of the local community. These partnerships are a testament to our shared vision for a sustainable future." ACWA Power has entered into an MoU with the Malaysian Investment Development Authority (MIDA) to explore the development of up to 12.5GW of power generation capacity by 2040, with an initial investment value of up to $10 billion. This collaboration will play a pivotal role in achieving Malaysia's goal of increasing its installed renewable energy capacity to 70% by 2050. Further, ACWA Power has signed SPAs and Heads of Terms (HoTs) for Joint Development Agreements with Tenaga Nasional Berhad (TNB), Terengganu Inc. and UEM Lestra to conduct feasibility studies and jointly develop various energy projects relating to floating solar photovoltaic (FPV), combined cycle-gas turbine (CCGT) and large-scale water desalination to accelerate Malaysia's sustainable energy and water infrastructure development.
