Northern Metropolis offers ASEAN firms gateway to Greater Bay Area, says John Lee

Chief Executive John Lee Ka-chiu has called on ASEAN enterprises to invest in the Northern Metropolis, saying the mega development will help Hong Kong strengthen its role as a gateway between Southeast Asia and the Greater Bay Area.

Speaking at the GBA-Asean Summit, Lee said Hong Kong is accelerating the development of the Northern Metropolis into an international hub for innovation and technology, as well as post-secondary education.

He said the project would create new opportunities for ASEAN businesses seeking to tap into the Greater Bay Area, one of the world’s most dynamic economic regions.

Lee said ASEAN has been Hong Kong’s second-largest merchandise trading partner for 16 consecutive years, with bilateral trade reaching US$214 billion last year, up 29 percent from a year earlier.

He said ASEAN and the Greater Bay Area are among the world’s most vibrant economic engines, adding that their geographical proximity and aligned development directions offer strong room for cooperation. Hong Kong, he said, can serve as a connector between the two regions and help create new business opportunities.

Meanwhile, the Hong Kong leader said the city’s first five-year plan would study how the city can make better use of its unique strengths to deepen regional cooperation with ASEAN countries and economies along the Belt and Road.

He added that the Policy Address consultation launched on Monday would cover concrete targets for implementing the vision under the city’s first five-year plan.

Lee also expressed hope that ASEAN countries would continue to support Hong Kong’s accession to the Regional Comprehensive Economic Partnership, saying it would mark another important milestone in regional economic cooperation.

Commissioner for Belt and Road Nicholas Ho Lik-chi said at the same event that cooperation between ASEAN and the Greater Bay Area would help reshape market supply chains and redefine investment directions.

Ho said the two regions enjoy complementary advantages, including abundant resources and a large labor force, making their closer cooperation increasingly important amid changes in the global economic landscape.

He added that Hong Kong has continued to deepen ties with ASEAN countries, with the city opening an economic and trade office in Kuala Lumpur last year, making ASEAN the region with the largest number of Hong Kong economic and trade offices.
 

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