InvestHK has embarked on a significant mission to enhance Hong Kong's role as a pivotal business gateway for companies aiming to enter Mainland China and the Asia-Pacific region. This initiative spans Türkiye, Hungary, and Egypt, aligning with broader efforts to fortify economic connections along the Belt and Road Initiative. The campaign emphasizes Hong Kong’s strengths as a global financial hub and its strategic position in facilitating international trade.
The outreach underscores Hong Kong's competitive advantages, such as favorable tax policies, unrestricted capital movement, and a legal framework under "one country, two systems." Through engagements in Istanbul, Budapest, and Cairo, InvestHK aims to strengthen existing partnerships, promote regional trade opportunities, and highlight the city's innovation ecosystem supporting thousands of businesses.
Promoting Business Opportunities Across Key Markets
InvestHK is spearheading a mission led by Director-General Alpha Lau to engage with Turkish, Hungarian, and Egyptian enterprises. By visiting Istanbul, Budapest, and Cairo, Ms. Lau highlights Hong Kong's appeal as a business-friendly environment with advantageous policies. These include low taxation, free capital flow, and a robust legal structure. Each stop reinforces Hong Kong's value proposition for international expansion into Asia.
In Istanbul, discussions focus on strengthening ties with Turkish firms through events organized by local chambers of commerce. With Türkiye being Hong Kong's 30th largest trading partner, valued at $16.6 billion in merchandise trade, there is substantial potential for growth. In Budapest, the delegation fosters collaboration with Hungarian businesses during an economic conference, emphasizing Hong Kong's facilitation of trade between Hungary and Mainland China, worth approximately $9.4 billion annually. Lastly, in Cairo, meetings with Egyptian leaders aim to build upon a Memorandum of Understanding signed in 2023, promoting further bilateral cooperation and market entry strategies.
Strengthening Partnerships Through Regional Initiatives
Beyond individual market visits, this outreach strengthens long-term partnerships through initiatives like the ASEAN Free Trade Area and the Greater Bay Area. These collaborations support nearly 10,000 overseas and Mainland companies alongside about 4,700 startups operating in Hong Kong. The mission builds on recent developments, including the establishment of an InvestHK office in Izmir, Türkiye, earlier this year, aimed at enhancing mutual cooperation.
Through these engagements, InvestHK not only promotes Hong Kong's strategic importance but also showcases its innovative capabilities. For instance, the city's vibrant tech ecosystem offers numerous opportunities for startups and established firms alike. Furthermore, conferences held in each destination provide platforms for networking and exploring synergistic ventures. By leveraging existing agreements and opening new channels of communication, this initiative ensures that Hong Kong remains at the forefront of global trade dynamics while fostering sustainable economic growth across participating nations.