'HK can leverage strengths in ASEAN'

Hong Kong can leverage its unique advantages under “one country, two systems” to grow its business in Southeast Asia. That is the view of Hong Kong General Chamber of Commerce Chairman Agnes Chan, who will be among the delegates from Hong Kong as Chief Executive John Lee embarks on a visit to Laos, Cambodia and Vietnam.

Ms Chan highlighted that, taken as a whole, the Association of Southeast Asian Nations, or ASEAN, constitutes Hong Kong’s second-largest trading partner and the world’s third-largest economy by population.

She listed a number of advantages enjoyed by Hong Kong as it looks to seize more opportunities in the region. These include the "one country, two systems" arrangement and Hong Kong's ready access to the Mainland's market of more than 1.4 billion people, in addition to the city's common law legal system, low tax regime, strong professional services, and international connectivity.

Hong Kong plays "a super connector role, (a) super value-adder role," she added. "I think these are very commonly spoken, but I really do see these as unique advantages that will attract businesses from these ASEAN countries."

Ms Chan highlighted the role Hong Kong’s professional services sector can play for firms in ASEAN nations, in areas such as law and accounting. Foreign investment, meanwhile, is contributing to the growth of middle-class populations and the rapid expansion of consumer markets in ASEAN economies, and she believes Hong Kong can capitalise by offering property management and financial planning services.

The trip can foster business development, she added, by providing face-to-face interactions with local representatives.