Snatching overseas talent under study

Hong Kong will launch massive programs in one to two years to attract talent from around the world, with authorities studying ways of getting large-scale multinational corporations to come to Hong Kong, according to Chief Executive John Lee.

Lee said Hong Kong is still an attractive city as an international financial hub, but it needs to expand its market.

"I have already ordered the Commerce and Economic Development Bureau to look into ways to attract corporations that would benefit Hong Kong's development," Lee said.

"I hope the measures can be rolled out in a year or two as the intention is to snatch talent from other countries' hands."

Human resources consultant Suen Lap-man, director of Watson Consultancy, said overseas talent usually check the situation regarding human rights and freedoms so "Hong Kong would have to prove that these still exist here."

He added: "The chief executive needs to convince the Western world that Hong Kong still enjoys the rule of law and freedom."

Suen said Hong Kong has to make an effort to improve its image as the national security law "could be an obstacle" in attracting foreign talent.

Citing President Xi Jinping's speech on Friday during the 25th anniversary celebration of the city's handover to China, that the one country, two systems principle will be enforced beyond 2047, Suen said that is "telling the Western world this is meant to support Hong Kong's reputation."

Suen thinks the drop of rent may be attractive for retail businesses or those using top-class offices.

Yet the lack of timetable for reopening the borders has almost offset Hong Kong's advantages as a communication channel to the mainland, Suen said.

He added many foreign companies hold a wait-and-see attitude for the new term of government.

"It depends on how much dowry the central government would give to the new chief executive," he said.

Lee also said "the Hong Kong story" should be promoted in an explicit manner, while media and cultural workers should help spread patriotic ideologies.

He said the SAR government has been more conservative in telling the "Hong Kong story" and he thinks it should be told boldly on various platforms, which will illustrate the city's advantage.

"Hong Kong is a gentleman, but there are many villains in the world, therefore we can no longer take it for granted that people will appreciate us if we do well," Lee said.

"We have to explicitly tell others."

He added: "I will send government officials to visit other countries and call on different sectors of society to help sell the Hong Kong story."

There is also a need to construct a "Hong Kong atmosphere that would allow the ideology that suits Hong Kong's overall development as well as a successful implementation of one country, two systems," Lee said.

michael.shum@singtaonewscorp.com