• Tue. Apr 23rd, 2024

‘Golden decade’ ahead as initiative opens up business opportunities

Commissioner for Belt and Road Nicholas Ho Lik-chi expressed his optimism for the development of the Belt and Road initiative, saying that the coming 10 years will be a “golden decade” for its advancement.

Ho said Hong Kong companies will enjoy increased business opportunities, as private and public corporations from different mainland provinces and cities show interest in the expanded prospects offered by the initiative.

“[The corporations] were able to spot Hong Kong’s unique advantage as a super value-adder and super-connector, and therefore hoped to use the city as a stepping stone in the Belt and Road initiative,” Ho said.

He also said that over the past decade, numerous infrastructure projects along the Belt and Road have been completed – resulting in lower trade barriers and enhanced business potential.

Consequently, the next 10 years will provide significant opportunities for major enterprises as well as small companies in Hong Kong, Ho added.

He also said certain countries along the Belt and Road are keen on expanding their services to Hong Kong, as they aim to enter the mainland market through the SAR. “The number of regional headquarters established in Hong Kong by companies from the Belt and Road Initiative countries has been growing at an annual rate of approximately 15 percent, indicating a positive trend,” Ho said.

He said many companies have already engaged in business with the SAR before setting up regional headquarters in the city, utilizing Hong Kong’s service platform to facilitate economic transformation.

In addition to attracting enterprises and talent from countries along the Belt and Road, Ho said Hong Kong also aims to attract companies and professionals from mainland cities.

“Hong Kong’s high level of internationalization among Chinese cities positions it as an attractive destination for trade and economic cooperation with Belt and Road-linked countries.”

Considering the unstable global economic environment, Ho said the adoption of connectivity policies – including investment protection agreements and free trade agreements – will mitigate the impact on developing countries. These measures aim to provide stability and support economic growth within the Belt and Road Initiative.

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By admin