28-7-2023 (KUALA LUMPUR) Hong Kong Chief Executive, Mr John Lee, has attended a business luncheon in Kuala Lumpur, Malaysia, where he expressed his gratitude to Malaysian Minister Anthony Loke for his kind words about Hong Kong. During the event, both Mr Lee and Mr Loke coincidentally wore red ties, which Mr Lee said reflected the strong bond between Hong Kong and Malaysia.
Mr Lee brought with him 30 business leaders from diverse fields and five senior officials to explore successful partnerships with Malaysia and the wider ASEAN region. He emphasized the importance of taking people-to-people, business-to-business, and government-to-government relations to a new and exciting level.
The world’s economic centre of gravity is moving eastwards, and Mr Lee believes it is crucial for Hong Kong and Malaysia to capitalize on this trend of robust growth in the region. He highlighted that Hong Kong’s economic resilience is underpinned by the enduring success of the “one country, two systems” principle, which ensures that Hong Kong remains openly connected to the rest of the world.
Mr Lee also emphasized the unique advantage of Hong Kong, being the only place in the world where the global advantage and the China advantage converge in one city. This convergence allows Hong Kong to thrive in the Greater Bay Area development (GBA), which encompasses Hong Kong, Macao, and nine major cities in southern China. The GBA is home to some 86 million consumers, with a combined GDP of about US$1.9 trillion in 2022, equivalent to the world’s 10th largest economy.
Mr Lee expressed his hope that Malaysian enterprises and entrepreneurs will partner with Hong Kong to tap into the area’s promising business and investment opportunities. The GBA, with its prime geographical location, is intrinsic to the Belt and Road Initiative, which in turn amplifies Hong Kong’s capabilities as a conduit between China and the rest of the world.
During the luncheon, 11 MOUs and agreements were signed between Hong Kong and Malaysia, covering a number of key areas including trade and finance, railway and property development, digital transformation, and fintech. Furthermore, the Malaysian Government has extended the visa-free stay period in Malaysia from one month to 90 days for holders of the Hong Kong SAR Passport, which Mr Lee believes will strengthen economic and trade ties and reinforce people-to-people exchanges and friendship.
