The comments by the entrepreneur and member of one of the city’s most prominent families come after the Secretary for Financial Services and the Treasury Christopher Hui said that Hong Kong is looking to attract the next generation of wealth owners to establish family offices in the SAR.
Speaking to RTHK after a panel discussion, Harilela said Hong Kong has its appeal as the city offers significant intellectual capital, a robust legal system and efficient processes for financial transactions.
“Look at how many banks that we have in Hong Kong. Look at our regulation, our judiciary that’s set separate from the government’s policy. If you look at the legal system in Hong Kong that allows for fluidity of money and movement of money, there’s no place like Hong Kong,” he said.
“The second part is the professionals, the banking professionals, legal professionals, as well as the government that allows you to process fast, quickly, without burden. It’s all here. You talk about language, Hong Kong has the capability.”
Harilela stressed the need for a clear long-term strategy to attract investment and talent, ensuring Hong Kong remains a competitive family office hub.
On Hong Kong’s investment landscape, he positioned it as a vital “super connector”.
“I’m working with the government as well as the private sector on creating commercialisation of space discovery, space technology, space activation, using Hong Kong as the super connector for businesses to come in, for IPOs to be listed, for financial investment opportunities to go through Hong Kong, whether it’s for China, whether it’s from China outward,” he said.
“I think Hong Kong has that, and I think that value, as we demonstrated, three to five percent bump in our GDP. That’s just one facet. If we talk about the other facets, we have to create a little bit of a middle to longer term growth. AI, robotics, our capability in AI in Hong Kong, the intellectual power, great.
“But our outsourcing, our push is always done in China, across the border. But we look at Malaysia and we look at Indonesia, that’s growing fast. And that market potential in those countries, phenomenal. I think Hong Kong, as a super connector to this whole region, is bar none.”
