Fourth Belt and Road Summit examines opportunities
12 September 2019 – The fourth Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), drew to a successful close today, having brought together more than 5,000 political and business elites from over 60 countries and regions at the Hong Kong Convention and Exhibition Centre. Under the theme “Creating and Realising Opportunities”, the two-day Summit invited over 80 government and business leaders from Hong Kong, Mainland China and countries and regions around the world to discuss the opportunities available in different sectors based on the latest developments under the Belt and Road Initiative.
Infrastructure investment projects drive geographical connections
Aside from the plenary sessions and various thematic discussion sessions, the 2019 Summit featured One-to-one Business Matching Meetings and Project Pitching Sessions that proved popular among both project owners and participants. The Summit received more than 240 investment projects, focusing on three main areas: Urban Development; Energy, Natural Resources and Public Utilities; and Transport and Logistics Infrastructures. The projects covered some 33 countries and regions, including France, the United Arab Emirates, Saudi Arabia, Vietnam, Indonesia and the mainland. In addition, more than 700 project matching meetings were arranged for project owners, investors and professional service providers, with over 300 companies participating.
Middle East countries actively involved in Belt and Road
Countries from the Middle East are now key partners in the Belt and Road Initiative. HE Abdulla Al Saleh, Under Secretary of the Foreign Trade and Industry at the Ministry of Economy in the United Arab Emirates (UAE), was invited to speak at yesterday’s Policy Dialogue Session, where he said: “Hong Kong has a good business environment and is an ideal platform for starting businesses. Also, Hong Kong has rich experience and expertise in the area of Islamic finance, as well as an excellent monetary system, which is very important to Middle Eastern enterprises that have financing needs." His Excellency mentioned that this was the fourth consecutive year for the UAE to join the Belt and Road Summit, with a sizeable group of delegates joining each time.
The Global Investment Zone gathered close to 70 exhibitors from the Asia-Pacific region, Mainland China, Europe, the Middle East and Africa, hosting exhibitions that highlighted the respective investment environments, key industries and development projects of these countries and regions. In addition to the Hong Kong Zone, which featured some 40 service providers, there were two pavilions from Saudi Arabia – one organised by the Saudi Ministry of Transport and another by the Saudi Arabian General Investment Authority (SAGIA) – that introduced the country’s government policies and investment opportunities, respectively.
Saudi Arabia also joined with the United Arab Emirates to organise three delegations to participate in the Summit, introducing various Belt and Road development projects to participants from other countries and regions. Saudi Arabia highlighted a number of projects related to roads and highways, including the Taif Ring Road and the Jeddah-Mecca Direct Road, while various logistics park projects with high potential were introduced by the UAE.
A series of cooperation agreements were signed at the Summit involving several companies. Hong Kong’s Kwan On Holdings, which is looking to diversify its investments in the Philippines and expand its Belt and Road Initiative plan, signed a memorandum of understanding (MoU) with the Metropolitan Manila Development Authority, a national government agency of the Republic of the Philippines, at the event. The MoU sets out an overall framework for launching a light rail project with the objective of optimising transportation in Metro Manila and promoting development along the Pasig River.
New Belt and Road opportunities for SMEs and young people
Small and medium-size enterprises (SMEs) have long been the driving force of Hong Kong's economic development. A newly introduced breakout session at this year’s Summit, titled “Belt and Road Opportunities for SMEs”, invited professionals in the field to introduce the opportunities and challenges SMEs may face under the Belt and Road.
The Belt and Road also offers many opportunities for the younger generation looking to develop their businesses and harness their creativity. In the session “Belt and Road Opportunities for the Young Generation”, run in association with InvestHK, a panel of young entrepreneurs shared their experiences and views on how new entrepreneurs can grasp opportunities arising from the initiative.
China International Capital Corporation Ltd served as the Summit’s Strategic Partner. Bank of China (Hong Kong) Ltd was the Diamond Sponsor.
Belt and Road Summit website: http://www.beltandroadsummit.hk/en
HKTDC Belt and Road Portal﹕https://beltandroad.hktdc.com/
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Under the theme “Creating and Realising Opportunities”, the fourth Belt and Road Summit welcomed nearly 5,000 political and business elites from over 60 countries and regions at the Hong Kong Convention and Exhibition Centre |
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HE Abdulla Al Saleh, Under Secretary of the Foreign Trade and Industry at the Ministry of Economy in the United Arab Emirates, was invited to speak at yesterday’s Policy Dialogue Session, where he said that Hong Kong can offer rich experience and expertise in the area of Islamic finance, as well as an excellent monetary system that is very important to Middle Eastern enterprises that have financing needs |
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The Summit featured One-to-one Business Matching Meetings and Project Pitching Sessions that proved popular among both project owners and participants and received more than 240 investment projects |
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A series of cooperation agreements were signed at the Summit. Hong Kong’s Kwan On Holdings signed a memorandum of understanding with the Metropolitan Manila Development Authority, a national government agency of the Republic of the Philippines, at the event |
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The Global Investment Zone gathered close to 70 exhibitors from the Asia-Pacific region, Mainland China, Europe, the Middle East and Africa. The services of Hong Kong companies from different sectors were showcased at the Hong Kong Zone which featured some 40 service providers |
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The Belt and Road Global Forum Annual Roundtable was held during the Summit, with more than 85 association members from 23 countries and regions taking part. The forum is a platform that brings together Hong Kong, Mainland China and international organisations and associations to share information, interact and explore business collaboration under the Belt and Road Initiative through Hong Kong |
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The Belt and Road Portal (beltandroad.hk), run by the Hong Kong Trade Development Council’s (HKTDC), provides information on the latest market intelligence along the Belt and Road, along with details of Hong Kong professional service providers, investment projects, expert insights and success stories aimed at businesses and investors from Hong Kong, Mainland China and overseas. The HKTDC recently completed a revamp of the portal, expanding the investment project section and Hong Kong service provider database, and launching the “Infrastructure Tool Kit”. The latter provides practical guidelines for different phases of infrastructure projects, along with details of suitable business partners, Hong Kong service providers and project financing channels |
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Media Enquiries
Please contact the HKTDC’s Communications & Public Affairs Department:
Coco Yuen Tel: (852) 2584 4145 Email: coco.hc.yuen@hktdc.org
Clayton Lauw Tel: (852) 2584 4194 Email: clayton.y.lauw@hktdc.org
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About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.