Lee on 3rd ASEAN tour to explore business prospects
Chief Executive John Lee Ka-chiu began his third visit to member states of the Association of Southeast Asian Nations on Sunday, taking in Laos, Cambodia and Vietnam — a vast and vibrant market with a combined population of 120 million.
Lee said the six-day trip is aimed at fostering government-level ties, introducing the special administrative region’s development opportunities and rallying support for the city’s accession to the Regional Comprehensive Economic Partnership — the world’s largest free trade bloc.
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Lee’s delegation, which includes senior SAR government officials and prominent business leaders, arrived in the Laotian capital, Vientiane, on Sunday afternoon. They will continue the visit to Laos on Monday and leave for Cambodia the next day before touring Vietnam from Wednesday to Friday. Lee said the mission’s significance is to showcase Hong Kong’s role as a “superconnector” and a “super value-adder”.
By leveraging the city’s professional services and networks, he will try to get businesspeople from abroad to tap the opportunities in the SAR and access the extensive Chinese mainland market. The delegation also hopes to promote cultural exchanges in areas like education and tourism.
Lee will meet local leaders in the three ASEAN states to strengthen government-level communication and seek their support for Hong Kong’s plan to join the RCEP.
The 10-nation ASEAN has a total population of 670 million and is Hong Kong’s second-largest trading partner. Bilateral trade in goods reached $144.6 billion last year, accounting for nearly 13 percent of the SAR’s external merchandise trade. Vietnam is Hong Kong’s largest export market in the region, accounting for 31.2 percent of the city’s total exports to ASEAN, followed by Singapore, Thailand and Malaysia.
Lee is accompanied by about 30 representatives from diverse business sectors, such as industry and commerce, financial services, transport, logistics, innovation and technology, and tourism.
SAR officials include Deputy Financial Secretary Michael Wong Wai-lun, Secretary for Commerce and Economic Development Algernon Yau Ying-wah, Commissioner for Belt and Road Nicholas Ho Lik-chi, and Director-General of Investment Promotion Alpha Lau Hai-suen.
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Yao Bin, chairman of the Lao Chinese Chamber of Commerce, told Radio Television Hong Kong that Laos has inherent advantages in renewable energy generation. He hopes Laos and Hong Kong can collaborate in bringing the Southeast Asian nation’s cost-effective clean energy to the SAR and the Chinese mainland.
Yao said the development of renewable energy is a substantial investment endeavor that requires additional financial expertise and funding, and Hong Kong’s abundant pool of professionals could complement Laos in this venture.
With the goal of listing his company’s subsidiary business operations in Hong Kong, Yao said the legal frameworks between Laos and the SAR still require further alignment. He expects the Hong Kong delegation’s visit to pave the way for stronger economic and trade cooperation between the two regions.
