FS to depart for Middle East visit

Financial Secretary Paul Chan will depart for a visit to Bahrain and Saudi Arabia tomorrow.

The visit seeks to strengthen the financial and commercial ties and co-operation between Hong Kong and the Middle East, and promote Hong Kong’s latest economic and financial developments to the Middle East markets, thus telling the good stories of the city and exploring potential business opportunities.

Mr Chan will visit Bahrain on October 23 and 24 where he will call on senior government officials and business leaders to explain the vast potential of Hong Kong's economy and the Greater Bay Area market with a view to forging closer bilateral trade and investment ties.

The finance chief will be in Riyadh, Saudi Arabia from October 25 to 27 to attend the sixth edition of the Future Investment Initiative (FII) and is scheduled to speak at a plenary session and share views on the political and economic outlooks as well as elaborate on Hong Kong's status and edge as a leading global financial centre.

During his stay in Riyadh, Mr Chan will attend and give a keynote address at a breakfast meeting co-organised by the Hong Kong Special Administrative Region Government, Hong Kong Exchanges & Clearing and Investcorp, an alternative investment management company in the Middle East.

He will take the opportunity to promote Hong Kong's pre-eminent role as the financial gateway to the Mainland, explaining how the city can help them tap the vast business opportunities brought by the Mainland's development.

Mr Chan said: “The Chief Executive has emphasised in his Policy Address that we need to tell the world the good stories of Hong Kong. Principal Officials will make visits overseas, including emerging markets, to showcase the strengths of Hong Kong.”

He anticipates that this visit will help Hong Kong extend its economic and trade ties with the Middle East and help rebuild the city's image and branding.

Mr Chan will return to Hong Kong on October 28. During his absence, Deputy Financial Secretary Michael Wong will act as Financial Secretary.