Lawmaker Duncan Chiu also encouraged SAR firms to seek mutually beneficial solutions when doing business in the Middle East, and build long-term partnerships based on goodwill.
Chiu, along with officials and entrepreneurs from Hong Kong and the mainland, will join a delegation led by Chief Executive John Lee setting off for Qatar and Kuwait on Saturday night in an outbound mission to foster trade ties and lure investment.
Speaking ahead of the visit, the IT expert explained it’s vital for governments to engage each other first before business groups get together to iron out the terms of cooperation.
Citing Singapore and Indonesia as examples, Chiu said the chief executive’s 2023 visit had forged partnerships with the Asean member states which last to this day.
The lawmaker and dozens of tech firms paid a visit to Jakarta in January to follow up on the initial round of exchanges, while some Hong Kong companies have already expanded their office in Singapore.
Noting SAR companies mostly conduct business in the United Arab Emirates, Chiu hopes the upcoming delegation can tap into previously unexplored segments of the Middle Eastern market.
“So with Kuwait and Qatar, I would say it’s a new initiation, especially with Kuwait,” he said.
“Qatar, actually they are quite keen to have collaboration with Hong Kong and mainland China in tech… not just in purchasing of technology, but also in collaboration in research and development.”
Chiu said his priority is to connect with local decision makers and promote Hong Kong’s advantages.
“I want to first let them know what’s been happening in Hong Kong. And second, we have some exhibitions and conferences in summer, in August, and we’d like to invite them to join.”
The technology and innovation lawmaker also said SAR businesses should try to cultivate long-term relationships by meeting the needs of their trading partners.
“We have to consider in any collaboration, apart from [us] benefitting from exporting or selling some technology over there, but also, you know, in what sense we’re helping these [countries] in their building up of the ecosystem or the infrastructure,” he said.
Templewater, a private equity firm which owns Citybus, secured a contract to supply hydrogen buses to the United Arab Emirates during the CE’s previous visit to the region in 2023.
Cliff Zhang, the firm’s chairman and CEO, said the first batch of three hydrogen buses has now operated for nearly 18 months.
The company is now exploring the possibility of bringing these zero-emission vehicles to Qatar and Kuwait.
Zhang said while green buses may not be the most cost-effective option for Middle Eastern markets, where fossil fuels are cheap, the move towards renewable energy offers other benefits.
“But if you look at it from a government planning perspective, renewable energy products can ultimately spur the development of other future industries,” he said, adding this aligns with Gulf nations’ goal to pivot their economy away from fossil fuel.
