Chief Executive John Lee continued his visit to Kuwait today by meeting representatives of the Kuwait Direct Investment Promotion Authority, exchanging views with local political and business leaders, and witnessing the reaching of multiple pacts between government departments, enterprises and organisations of Hong Kong, the Mainland and Kuwait.
In the morning, Mr Lee met Kuwait Direct Investment Promotion Authority Director General Meshaal Jaber Al-Ahmad Al-Sabah to learn about Kuwait’s strategies and achievements in attracting business and investment.
Noting that Kuwait was Hong Kong’s sixth-largest trading partner in the Middle East last year, Mr Lee said there is significant room for development in trade and business between the two places. He also stressed that Hong Kong will continue to serve as a bridge to assist enterprises in going global and attracting external investment, welcoming Kuwaiti enterprises to leverage the city’s financing support and professional services to explore international markets.
Afterwards, the Chief Executive attended a business luncheon where he delivered a speech to near 300 local business leaders to promote Hong Kong’s business advantages and development opportunities. Moreover, government departments, enterprises and organisations from Hong Kong, the Mainland and Kuwait exchanged and announced 24 memoranda of understanding and co-operation agreements, covering areas such as economy and trade, investment, financial services, technology, legal co-operation, cargo clearance and flow, aviation, and post-secondary education.
Mr Lee highlighted that merchandise trade between Hong Kong and the Cooperation Council for the Arab States of the Gulf reached nearly US$20 billion last year, an increase of over 53% in the past four years, while Hong Kong’s merchandise trade with Kuwait last year amounted to US$200 million, up more than 20% from the previous year.
Hong Kong, an international financial centre as well as the world’s largest offshore renminbi business hub, will give full play to its role as a “super connector” and “super value-adder” to deepen international exchanges and co-operation, Mr Lee pointed out, adding that he believes the ties between Hong Kong and Kuwait will continue to flourish.
In the afternoon, Mr Lee visited Zain Group a major mobile telecommunications company, to learn about its business in innovative technologies and digital communications, and exchanged views with company representatives on topics such as drones, artificial intelligence and smart city development. He remarked that Hong Kong is actively developing into an international innovation and technology centre, and he welcomes the company to invest and pursue co-operation opportunities in Hong Kong.
The Chief Executive also hosted a dinner for members of the business delegation comprising representatives from Hong Kong and Mainland enterprises to thank them for their participation in the programme of the past four days, and for working together to explore co-operation opportunities for Hong Kong and the Mainland in the Middle East.
He will return to Hong Kong tomorrow.
