Strategic partnerships are being forged to broaden economic ties. The Hong Kong government is actively seeking to widen its trade network by engaging more deeply with Global South markets. Financial Secretary Paul Chan outlined ambitious plans in his 2025-2026 Budget Speech, emphasizing discussions with Malaysia and Saudi Arabia for the establishment of Economic and Trade Offices. These initiatives aim to strengthen commercial relationships and facilitate smoother business operations between these nations. Furthermore, InvestHK has extended its reach into Egypt and Türkiye, opening consultant offices that will serve as vital links for businesses looking to tap into these regions. Similarly, the Hong Kong Trade Development Council (HKTDC) has established a presence in Cambodia, underscoring the city's commitment to fostering international trade.
New opportunities are emerging across diverse geographies. Beyond Southeast Asia, Hong Kong is exploring investment agreements with countries such as Saudi Arabia, Bangladesh, Egypt, and Peru. Simultaneously, negotiations for Comprehensive Avoidance of Double Taxation Agreements are underway with 17 nations, aiming to create a more favorable environment for cross-border investments. Leveraging its role as a key platform for the Belt and Road Initiative, Hong Kong seeks to deepen collaboration with ASEAN and Middle Eastern markets. This strategic position also opens doors to Central Asia, South Asia, and North Africa, where business and professional services sectors can uncover new prospects. The HKTDC is focusing on project matching under the initiative, particularly in areas like green development and innovation and technology.
The upcoming 10th B&R Summit in September marks a significant milestone for Hong Kong’s participation in this global initiative. The event will bring together stakeholders from various sectors, encouraging them to host complementary activities during the summit period. By fostering synergies and promoting collaboration, Hong Kong aims to solidify its position as a leading hub for international trade and investment. This proactive approach not only enhances economic growth but also promotes sustainable development and innovation, paving the way for a brighter future for all involved parties.
In today's competitive market, businesses are constantly seeking innovative ways to connect with their target audience and expand their reach. By collaborating with a dedicated partner, companies can create impactful advertising campaigns across multiple platforms. Moreover, organizing influential events provides an excellent opportunity to engage with industry leaders and thought pioneers. Such collaborations not only enhance brand visibility but also open doors to potential partnerships and recognition through prestigious awards programs.
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The Hong Kong government has recently declared a significant financial boost aimed at fostering the growth of local businesses. With an investment of $1.5 billion, this initiative seeks to enhance business development and facilitate global expansion for enterprises based in Hong Kong. The funds will be allocated to two primary programs: one focused on branding, upgrading, and domestic sales, and the other on export marketing and support for trade and industrial organizations. These measures are expected to streamline application processes and provide much-needed resources for businesses looking to grow.
Financial Secretary Paul Chan highlighted the success of existing support mechanisms during his 2025-2026 Budget Speech. By the end of last year, over $288 billion in loans had been approved under the SME Financing Guarantee Scheme, benefiting nearly 65,000 small and medium-sized enterprises (SMEs). To further alleviate financial pressures, a principal moratorium arrangement was reintroduced in November, offering up to 12 months of payment relief. Banks participating in the Taskforce on SME Lending have also bolstered their dedicated SME financing portfolios to over $390 billion, demonstrating a commitment to easing cash flow challenges for these businesses.
To assist SMEs in tapping into Mainland markets and boosting e-commerce, the Hong Kong Trade Development Council (HKTDC) has launched the “E-Commerce Express” program. This initiative offers comprehensive support through personalized consultations, thematic seminars, and an enhanced mentorship scheme in collaboration with the Trade and Industry Department. Additionally, HKTDC plans to organize the second Hong Kong Shopping Festival, providing more opportunities for SMEs to thrive in both domestic and international markets. Such efforts underscore the government's dedication to fostering a vibrant and resilient business environment that encourages innovation and sustainable growth.