August 5, 2024
HONG KONG – Hong Kong Chief Executive John Lee Ka-Chiu’s landmark visit to Laos, Cambodia and Vietnam has yielded fruitful results, with various parties signing 55 agreements to bolster collaboration in trade, investment, aviation, technology, and education.
Hong Kong and the three Association of Southeast Asian Nations member countries have agreed to strengthen intergovernmental exchanges, expand business networks, and propel the Belt and Road Initiative. The countries also reaffirmed their support for Hong Kong’s accession to the Regional Comprehensive Economic Partnership, Lee said when wrapping up his six-day trip on Friday.
The trip marks the first official visit by a chief executive of the Hong Kong Special Administrative Region to the three countries.
Leading a delegation of over 30 business leaders, Lee arrived in Laos on Sunday, proceeded to Cambodia on Tuesday, and spent Wednesday through Friday in Vietnam before returning to Hong Kong.
The members visited four cities, attended around 30 events and extensively interacted with government officials and representatives of the local business industry.
Among the 55 new agreements, 30 were signed with Vietnam, 13 with Cambodia, and 12 with Laos.
The results included the provision of scholarships from the University of Hong Kong and the Hong Kong Polytechnic University to outstanding students from those countries to enable them to pursue their studies in Hong Kong.
To advance the Belt and Road Initiative, Hong Kong will provide assistance in investment, financing, and talent management for the three countries, Lee said, adding that they have all expressed the intention to boost aviation ties with the city and ease travel requirements for inbound tourists from Hong Kong.
“This visit has reaffirmed my belief that our relationship with the ASEAN countries is positive,” Lee said.
Lee said he believes that, through RCEP, Hong Kong will be able to contribute more to the overall economic growth of ASEAN and the broader Asian region.
Lee said Vietnam has seen a rise in its middle-class population and rapid economic growth. Many enterprises in Vietnam are expanding their scale and have plans to enter overseas markets. “Hong Kong can be Vietnam’s partner in exploring overseas markets and assisting Vietnam in raising funds,” he said.
Peter Lam Kin-ngok, chairman of the Hong Kong Trade Development Council, said that the delegation’s mission was to strengthen bilateral relations with ASEAN, Hong Kong’s second-largest trading partner.
He added that ASEAN companies are very interested in exploring opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area through Hong Kong.
Lam highlighted the potential for many business opportunities to arise between Hong Kong and the three countries. He mentioned that Hong Kong in recent years has made significant breakthroughs in areas such as innovation and sustainable development, and the city has international-level research capabilities and an intellectual property infrastructure.
Additionally, the SAR is advantageously positioned in green technology, smart manufacturing and supply chain management. As the largest source of government green bonds in Asia, ASEAN enterprises looking for green financing opportunities can partner with Hong Kong’s professional services support, Lam added.
Lam said that the HKTDC will continue to assist enterprises in identifying opportunities through its 50 offices around the world and will open a new office in Cambodia soon. Lam revealed that the Ministry of Commerce of Cambodia has accepted an invitation to visit Hong Kong in three weeks’ time to discuss further economic and trade cooperation.