Friday Beyond Spotlights - Dr Allan Zeman, the man behind and beyond the spotlights

Friday Beyond Spotlights is an all-new and all-star English talk show aired every Friday at 8:30 pm on Hong Kong International Business Channel (#76). The light-hearted and informative programme, hosted by Mr Patrick Tsang On-yip and Mr Nick Chan Hiu-fung, invites leading minds and game changers in Hong Kong to share their views and insights on topical issues, and their experience in grasping opportunities and tackling challenges.

The eighth episode, hosted by Mr Tsang, features Dr Allan Zeman, GBM, GBS, JP, Chairman of Lan Kwai Fong Group. He highlights how Hong Kong offers a flourishing business environment with low taxation and extensive access to international and Chinese markets. Zeman also recounts his journey from a paperboy in Montreal to a business magnate in Hong Kong.

A magnet for businesses and entrepreneurs

Attracted by Hong Kong’s business-friendly environment, Zeman moved from Canada to Hong Kong in 1975 to pursue his entrepreneurial dreams. Like many others, he saw the city’s highly competitive tax regime as one of its major advantages. “Compared to Canada’s hefty corporation tax of 50%, alongside dividend and personal taxes, Hong Kong has no taxation on sales, capital gains, dividends, and only a 15% corporation tax rate,” he notes. “Hong Kong’s robust common law system and judicial independence, introduced by the British and secured under ‘One Country, Two Systems’, are also very important to business people.”

Zeman was sad to see the street violence in 2019 which dealt a severe blow to Hong Kong’s business environment, but rejoiced on China’s smart move in passing the National Security Law, which brought stability back and helped businesses around the world regain their confidence and trust in the city.

He points out that the law is in line with the standard international practice of safeguarding national security and sovereign rights. “120 out of 200 countries in the world have a security law, including the US and Singapore,” he says. “And if you look at most of the security laws, they are a lot stricter than the one China instituted for Hong Kong.”

Prominence as a super-connector

In addition to an international business hub, Hong Kong is also known for its long-standing role as a super-connector of global trade and investment. “When I moved here, Hong Kong was the factory to the world. This was very exciting because instead of doing business with the local shop in Montreal or Toronto or wherever it was, I can now do business with the world,” he recalls. “Hong Kong is a place where you can have a dream at night, wake up the next morning and make it a reality.”

With the development of the Greater Bay Area (GBA), Zeman asserts that Hong Kong’s role as a super-connector will remain as relevant and as significant as before. “Given that the GBA has 84 million people and a GDP of US$1.67 trillion, I really believe that this will be a game changer for Hong Kong. I can see that in the future, the city will continue to serve as a super-connector between the East and the West.”

As such, Zeman believes that, while many people in the East used to look to the West, it is time for young people in the West to look East. “For anyone who is thinking about their future, just hop on a plane like I did and come out here,” he advises. “Hong Kong is one of the best places in the world with lots of opportunities.”

From rags to riches through hard work

As an entrepreneur and business magnate, Zeman describes how his tough upbringing has instilled in him a strong work ethic fundamental to his success today. “My dad died when I was 7, so I started working at a young age to support the family. At 10, I was delivering newspapers in the morning before going to school, and at 12, I was cleaning tables in a restaurant as a busboy,” he reveals. “This really built my character and gave me the work ethic.”

Through his hard work, Zeman was already earning more than his secondary school teachers and was the only person with his own convertible by the age of 16. This taste of money sparked his desire to become an entrepreneur, leading him to work by day and attend university by night. Starting as a shipping clerk at a lingerie company, then a salesman of ladies dresses, Zeman finally opened his own business at 19, selling ladies dresses across western Canada.

When Zeman first visited Hong Kong on a business trip, it was no surprise that he quickly found his place in a city where residents shared his work ethic. “The locals really worked very, very hard and I just loved the energy here,” he reminisces. As a result, he spent most of his early years in the factory areas of Kowloon, where he developed his thriving garment business.

A true visionary

In addition to hard work, Zeman is also known for his visionary insight. “I look at things not for what they are, but for what they could be, and that has always been my strength,” he states. In 1983, Zeman saw the potential of a small, run-down alleyway named Lan Kwai Fong and started Hong Kong’s first restaurant-club hybrid there. From then on, he continued buying properties in the area and opening more bars and restaurants, successfully developing Lan Kwai Fong into Hong Kong’s landmark nightlife district. 

Similarly, in 1997 when many Western media outlets were predicting the demise of Hong Kong, Zeman saw Hong Kong and Mainland China getting better and better. As an affirmation to his vision, Zeman points to a pop art figurine that came out of Beijing’s flourishing art scene a few years ago, attesting to the emergence of China and the coming of age of its economy.

Today, Zeman is equally optimistic about the prospect of Hong Kong. “Hong Kong, you are one of the best places in the world. So have confidence, be positive, and let’s join up closer with the GBA and the Mainland. I promise you, everyone’s life will get better,” he concludes.

To watch the video, visit Friday Everyday YouTube Channel – Friday Beyond Spotlights Ep.8 l Allan Zeman.

Part 1: https://youtu.be/ykNjFhFRCdg

Part 2: https://youtu.be/iJw7TFiHWP4