Kuwait, Hong Kong sign 24 MoUs
Hong Kong business delegation concludes Mideast mission in Kuwait
KUWAIT: A business delegation led by John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), and organized by the Hong Kong Trade Development Council (HKTDC) visited Kuwait City on May 12-15, successfully concluding a five-day mission to Qatar and Kuwait.
A total of 59 MoUs and announcements were facilitated during the mission with the aim to cultivate deeper partnerships and create new opportunities for synergy between Hong Kong, the mainland, Qatar, Kuwait and the broader Middle Eastern market. The mission also successfully enhanced collaboration between Hong Kong and the mainland, enabling mainland companies to partner with Hong Kong businesses to expand into the Middle East and beyond.
Over the past few days, the delegation, comprising over 50 business leaders from Hong Kong and enterprise representatives from seven mainland provinces and cities, explored the Middle Eastern market and supported high-quality Belt and Road cooperation while promoting Hong Kong's unique role as a superconnector and super value-adder.
During the visit to Kuwait, 24 memoranda of understanding (MoUs) and announcements were facilitated in trade and investment promotion, finance, law, transport and logistics, innovation and technology (I&T), agriculture, education and sport. The delegation met with senior executives and key members of the Kuwait Investment Authority (KIA), conglomerate Bukhamseen Group Holding and the Kuwait Chamber of Commerce and Industry (KCCI) to discuss investment opportunities and potential collaborations.
Dr Peter K N Lam (second right), Hong Kong Trade Development Council Chairman, expresses his delight at the business delegation's success.
The Hong Kong delegation meets with several representatives from the Kuwait Direct Investment Promotion Authority (KDIPA).
A view of the business luncheon.
The delegation also met with several representatives from the Kuwait Direct Investment Promotion Authority (KDIPA) to gain an in-depth understanding of the operations of Kuwait's free trade zones. The meeting explored potential cooperation opportunities in areas such as logistics, manufacturing, distribution, and technology. The delegation visited the Sheikh Abdullah Al-Salem Cultural Centre to gain a comprehensive overview of Kuwaiti history, culture and achievements. To foster cooperation, the Hong Kong Economic and Trade Office (HKETO) and Hong Kong Trade Development Council (HKTDC) organized a high-level business luncheon, which was attended by some 270 business leaders and key officials.
Concluding the Middle East mission, Lee said the delegation, comprising Hong Kong and mainland business leaders, had achieved three key objectives: 1. To strengthen government-to-government relations; 2. To find new areas of collaboration; and 3. To make friends, and expand networks.
'Over the past four days, I have observed that both Qatar and Kuwait are experiencing rapid development, supported by substantial investment and continually expanding economies. In meetings with leaders and officials, I appreciated their forward-looking vision and understanding of Hong Kong's unparalleled advantages under 'one country, two systems' as a bridge between the mainland and the world. As Middle Eastern countries seek diversification of risk and look for opportunities in China and the Hong Kong SAR to join the tide of the global economic shift towards the East, Hong Kong has boundless opportunities.' He pointed out that this visit will elevate the relationship between Hong Kong and Qatar and Kuwait to a new level, bringing more business opportunities to Hong Kong, and noted, 'We will continue to strive to explore new opportunities and frontiers for Hong Kong.'
Dr Peter K N Lam, Chairman of the HKTDC, said: 'Over the past few days, we engaged in high-level government and business meetings, hosted business luncheons and visited key development projects in Qatar and Kuwait. We explored how Qatari and Kuwaiti businesses can leverage Hong Kong's advantages in finance, innovation and technology and professional services to advance initiatives in finance, energy transformation and smart infrastructure projects, contributing to the Qatar National Vision 2030 and Kuwait Vision 2035.'
'Following the visits, the HKTDC will continue to invite business leaders from the Middle East to visit Hong Kong. We welcome them participating in our international events, such as the Belt and Road Summit and Asian Financial Forum to explore opportunities in Hong Kong, Mainland China and beyond,' Dr Lam added.
•A delegation led by John Lee, Chief Executive of the Hong Kong Special Administrative Region, visited Kuwait as part of a broader high-level visit to the Middle East
•The delegation explored the Middle Eastern market and supported high-quality Belt and Road cooperation while promoting Hong Kong's unique role as a superconnector and super value-adder
•A total of 59 MoUs and announcements were facilitated during the mission, cultivating deeper partnerships between Hong Kong, the mainland, Qatar and Kuwait
24 MoUs and announcements
were facilitated in Kuwait
1.Invest Hong Kong and Kuwait Direct Investment Promotion Authority (KDIPA)
2.Agriculture, Fisheries and Conservation Department and Marine Science Centre of Kuwait University (Announcement)
3.Agriculture, Fisheries and Conservation Department and Public Authority of Agricultural Affairs and Fish Resources (Announcement)
4.Hong Kong Customs and Excise Department and Kuwait General Administration of Customs (Announcement)
5.Airport Authority Hong Kong (AAHK) and Kuwait Airways (Announcement)
6.Belt and Road General Chamber of Commerce and Kuwait Chamber of Commerce & Industry (KCCI)
7.Federation of Hong Kong Industries (FHKI) and Kuwait Chamber of Commerce & Industry (KCCI)
8.Hong Kong General Chamber of Commerce (HKGCC) and Kuwait Chamber of Commerce & Industry (KCCI)
9.Hong Kong Trade Development Council (HKTDC) and Kuwait Chamber of Commerce & Industry (KCCI)
10.Hong Kong Trade Development Council (HKTDC) and Kuwait Direct Investment Promotion Authority (KDIPA)
11.Sports Federation & Olympic Committee of Hong Kong, China and Olympic Council of Asia
12.The Chinese Manufacturers' Association of Hong Kong (CMA) and Kuwait Chamber of Commerce & Industry (KCCI)
13.The Law Society of Hong Kong and Kuwait Bar Association
14.Financial Services Development Council (FSDC) and Capital Market Authority in Kuwait (CMA) (non-delegate)
15.City University of Hong Kong and Ministry of Higher Education
16.City University of Hong Kong and Kuwait University
17.Templewater and Blue Ocean Company
18.Deloitte China and Baoye Hubei Construction Engineering Group Co., Ltd
19.Deloitte China and PCI Technology Co., Ltd
20.HSBC and PCI Technology Co., Ltd
21.HSBC and Meetsocial Group
22.Templewater and Shanghai Westwell Technology
23.Templewater and Shanghai Fengling Renewables Co, Ltd
24.Dongchao Information Technology (Shanghai) Co, Ltd and Kuwait Direct Investment Promotion Authority (KDIPA)
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