A tiny seed is opening big doors amid Hong Kong's push into Central Asia, as a local agritech firm partners with Kazakhstan to trial drought-tolerant soybeans, targeting a 2-million-tonne industrial chain.
The partnership was part of the agreements and memorandums of understanding signed during the recently concluded Central Asia trip with a business delegation led by Chief Executive John Lee Ka-chiu.
Under the memorandum, Hong Kong-based Soy-Sky Farmtech and JSC NC Food Contract Corporation of Kazakhstan would develop local drought-tolerant soybean production and process soy products for international markets.
While not involved in the project, Lam Hon-ming, director of the Centre for Soybean Research at the Chinese University of Hong Kong, welcomed the initiative, believing it could drive agricultural modernization in Kazakhstan and enhance China's food supply stability.
In addition to the city's unique role in bridging international connections, Lam pointed to the potential of establishing a complete industrial chain — from planting and production to processing and sales — which boosts overall economic benefits and strengthens regional supply chain resilience.
Amid Uzbekistan's rapidly growing economy, Hong Kong's Templewater is also exploring a US$500 million private credit platform with local private equity funds to help Uzbek businesses expand their operations.
As the government leads enterprises to explore a new "gold mine" in Central Asia, it is believed that more businesses can utilize the enhanced linkages to expand growth.
