Tapping trade potential in Cambodia

Secretary for Commerce & Economic Development Algernon Yau today met the Cambodian business sector to promote Hong Kong’s economic opportunities.

Speaking to over 400 participants at a luncheon in Phnom Penh to celebrate the 25th anniversary of the Hong Kong Special Administrative Region’s establishment, Mr Yau noted that Hong Kong has developed into a world-class city in Asia in the past 25 years with the implementation of “one country, two systems” and the staunch support of the Central People’s Government.

Quoting President Xi Jinping’s important speech on July 1, Mr Yau shared his insights about Hong Kong’s distinctive role and advantages under “one country, two systems”, adding that the city will enhance its status as an international trade centre under the National 14th Five-Year Plan and develop into a regional intellectual property trading centre and a premier telecommunications hub of Asia.

“As we actively integrate into the national development strategies, including the Guangdong-Hong Kong-Macao Greater Bay Area development and the Belt & Road Initiative, we stand ready to work closely with our partners in the region, including those in Cambodia, to capture the unprecedented business opportunities.

“With our free economy, a low and simple tax system, well-established infrastructural connectivity, a market-oriented and international business environment, as well as our free trade agreement with the Association of Southeast Asian Nations (ASEAN), Hong Kong will definitely be Cambodia’s prime partner in tapping the vast business potential in the bay area, in the Mainland and beyond in many more years to come.”

Today’s luncheon was held following the sixth ASEAN Economic Ministers-Hong Kong, China Consultation. Apart from attending the aforesaid events, the commerce chief visited two Hong Kong enterprises to learn about their operation and development and investment opportunities in Cambodia.

He will return to Hong Kong this evening.