InvestHK's Charles Ng heads to Middle East to tap into opportunities

The Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Charles Ng Siong-kwon is visiting the Middle East to strengthen ties with Saudi Arabia and the UAE while promoting Hong Kong as a key gateway for Middle Eastern business opportunities in the mainland and Asia-Pacific.

Ng will participate in several high-level business roundtables co-organized with Asia House, engaging with prominent businesses, family offices and investors during his 5-day visit to Riyadh, Jeddah and Dubai starting on Sunday.

Additionally, Ng will meet with representatives from leading Middle Eastern companies to explore ways to build a presence in Hong Kong and drive global expansion strategies. 

He highlighted the city's advantages in supporting diversified investments from countries in the Middle East amid an increasingly complex global landscape and geopolitical uncertainty.

Ng also emphasized the robust legal system, free flow of capital and information, and internationally aligned regulations offered by the city as an ideal gateway for Middle Eastern partners looking to explore the Mainland and Asia-Pacific markets as a hub for trade, logistics, innovation, and professional services.

Hong Kong has established a strong and increasingly close relationship with the Gulf region, including Saudi Arabia and the UAE, through growing finance, trade, and investment cooperation.

The city's merchandise trade with the Cooperation Council for the Arab States of the Gulf reached US$21.6 billion in 2023, reflecting the closer ties and strong economic opportunities fostered through initiatives like the Belt and Road Initiative.

Moreover, the city has developed a supportive platform for Islamic finance, including sukuk insurance and tax law amendments to ensure a level playing field with conventional bonds, along with the successful launch of three government sukuk,  allowing Islamic financial institutions to explore opportunities across Asia and the mainland.

(Phoebe Poon)