Chief Executive John Lee will lead his second delegation to the Middle East, visiting Qatar and Kuwait on Saturday.
As part of the delegation, Federation of Hong Kong Industries Chairman Steve Chuang hopes to expand business prospects, establish ties with the chambers of commerce in the two countries, and sign Memoranda of Understanding with local innovation and technology enterprises.
He noted that as oil-dependent economies, both countries are seeking economic transformation, presenting excellent opportunities for Hong Kong to springboard into their markets.
Citing Qatar National Vision 2030 and Kuwait Vision 2035, Mr Chuang said both countries were stepping up measures to foster innovation and technology.
“How to focus on smart cities, green energy, and how to provide better financial services – all of this actually is a perfect match for our expertise in Hong Kong.”
As Hong Kong companies have had little business engagement with Qatar and Kuwait in the past, Mr Chuang plans to visit Hong Kong enterprises in the region to assess their development and gain insights into the local culture and religious practices.
“The Middle East’s halal culture, in particular, involves a vastly different lifestyle from ours, which leads to significant differences in business operations.”
The federation took a delegation to Saudi Arabia and the United Arab Emirates last year to deepen mutual understanding and co-operation.
Mr Chuang said the trip showed that Hong Kong firms have begun looking towards the Middle East, while the Middle East has developed an interest in both Hong Kong and Mainland China businesses.
“We are already seeing tangible results from some Hong Kong enterprises making inroads in the Middle East – from a mobile delivery app launching operations in Dubai and preparing to enter Saudi Arabia, to a 3D-printed clay reef tile startup that has secured Saudi sovereign wealth funding for local production.”
He suggested that Hong Kong could utilise its roles as a “super connector” and “super value-adder”, for example, in assisting Middle East services and products to tap into the Mainland market or providing platforms for Mainland ventures to showcase their expertise to international audiences.
Mr Chuang suggested that with escalating tensions over US tariffs creating global uncertainty, Hong Kong businesses should broaden their reach to the Global South, including the Middle East and the Association of Southeast Asian Nations.
“The timing of the Chief Executive’s Middle East visit is perfect,” he added.
