Hong Kong deepens cooperation with Cambodia
- A delegation led by Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region visited Phnom Penh as part of broader ASEAN mission
- With its strengths in traditional and new sectors, Hong Kong aims to support Cambodia’s robust growth and efforts to diversify the economy, develop the private sector and foster sustainability
- A new HKTDC consultant office in Phnom Penh will foster more collaboration opportunities between Cambodia and Hong Kong
Phnom Penh, 31 July 2024 – A delegation led by Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), visited Phnom Penh in Cambodia on 30-31 July to strengthen business and economies ties between Cambodia and Hong Kong.
During this visit, 13 memoranda of understanding (MoUs) were signed in diverse areas, such as trade and investment promotion, innovation and technology (I&T), transport, banking, and industrial development.
The delegation, organised by the Hong Kong Trade Development Council (HKTDC), included some 30 leaders of international, Mainland Chinese and Hong Kong enterprises and conglomerates operating in finance and insurance, innovation and technology, professional services, infrastructure, transport and logistics, energy and hospitality.
The delegation visited Canadia Integrated Group, one of the largest conglomerates in Cambodia, and learned about local business opportunities and financing needs.
To foster bilateral collaboration, the Hong Kong Economic and Trade Office in Bangkok (HKETO Bangkok) and Hong Kong Trade Development Council (HKTDC) organised a business luncheon, which was attended by more than 350 business leaders and key officials.
At the luncheon on 31 July, Mr Lee remarked that, “The HKSAR Government is working to attract enterprises, capital and talent from around the world. We are seeking more of the right companies, and professionals, to spearhead the high-quality development of our economy – now and long down the road.”
He also mentioned that Hong Kong brings to the Guangdong-Hong Kong-Macao Greater Bay Area international experience and expertise in finance and trade, professional services, transport, logistics and more. “I welcome Cambodian enterprises and entrepreneurs to partner with Hong Kong and, together with us, tap into the area's far-reaching business and investment opportunities,” he said.
Dr Peter K N Lam, Chairman of the HKTDC, said: "The objective of our mission is to explore opportunities and forge connections that will strengthen the relationship between Cambodia and Hong Kong. Our city is renowned for its strengths in traditional sectors, like finance, trade, logistics and professional services, which can help Cambodian businesses expand. We are also making great strides in new sectors, such as innovation and sustainability, in which we can collaborate with Cambodia. We are impressed by Cambodia’s robust economic growth in recent years and its efforts to diversify its economy, develop its private sector and foster sustainable development.”
Dr Lam added, “The HKTDC has 50 offices globally, including 6 in ASEAN – Bangkok, Ho Chi Minh City, Jakarta, Kuala Lumpur, Manila and Singapore. Very soon, we will establish a new consultant office in Phnom Penh, further expanding our network in ASEAN and along the Belt and Road.”
During the visit, 13 MoUs were signed by the following members of the delegation, Cambodian government bodies and Cambodian companies:
1. Invest Hong Kong and the Council for the Development of Cambodia (CDC);
2. Hong Kong Trade Development Council (HKTDC) and the Council for The Development of Cambodia (CDC);
3. The Chinese General Chamber of Commerce, Hong Kong and Ministry of Industry, Science, Technology and Innovation of Cambodia;
4. The Chinese General Chamber of Commerce, Hong Kong & Ministry of Commerce of Cambodia;
5. Hong Kong Trade Development Council (HKTDC) and the Cambodia Chamber of Commerce (CCC);
6. The Hong Kong General Chamber of Commerce and the Cambodia Chamber of Commerce;
7. The Federation of Hong Kong Industries (FHKI) and the Hong Kong Business Association of Cambodia (HKBAC);
8. Airport Authority Hong Kong and Société Concessionnaire de l’Aéroport;
9. FWD Group Holdings Limited and Department of Media and Communication, Royal University of Phnom Penh;
10. CCB International (Holdings) Limited and ACLEDA Bank Plc.;
11. CCB International (Holdings) Limited and Sihanoukville Special Economic Zone Co., Ltd.;
12. Cathay Pacific Airways Limited and Société Concessionnaire de l’Aéroport; and
13. Hong Kong Airlines Limited and Cambodia Airways Co., Ltd.
With the BRI entering its second decade and amid greater regional cooperation facilitated by agreements, like the Regional Comprehensive Economic Partnership (RCEP), Hong Kong will continue to build on its role as superconnector, linking the wider China market with ASEAN and the world at large.
The HKSAR Government and HKTDC will host the Belt and Road Summit on 11-12 September in Hong Kong. At this annual event, which gathers key players from diverse sectors across Belt and Road markets and beyond, Cambodian companies can make connections and find new partners.
The visit to three ASEAN member states – Laos, Cambodia and Vietnam – this week aims to deepen economic and trade relations, enhance cultural exchange and explore collaboration opportunities between ASEAN and Hong Kong, building on the success of previous ASEAN missions to Singapore, Malaysia and Indonesia in 2023 and Thailand in 2022.
Photo Download: https://bit.ly/3WpTSDC
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Dr Peter K N Lam, Chairman of the Hong Kong Trade Development Council (HKTDC) addressed a business luncheon, co-organised by the HKETO Bangkok and the HKTDC, which fostered deeper economic and cultural links between Cambodia and Hong Kong |
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Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR) said Hong Kong will continue to fully leverage the advantages of one country, two systems to bring opportunities to Cambodia and other RCEP countries |
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H.E. Sun Chanthol, Deputy Prime Minister, addressed the luncheon |
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Neak Oknha Kith Meng, President of the Cambodia Chamber of Commerce and Chair of the ASEAN Business Advisory Council, also addressed the luncheon |
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More than 350 business leaders and key officials joined a business luncheon, co-organised by the HKETO Bangkok and HKTDC, in Cambodia |
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The Hong Kong delegation met with Mr Wang Wenbin (front, sixth left), Chinese Ambassador to Cambodia |
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The Hong Kong delegation visited Canadia Integrated Group, one of the largest conglomerates in Cambodia |
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At the conclusion of the Cambodia visit, (from left) Mr Michael Wong, HKSAR Government Deputy Financial Secretary; Mr John Lee, HKSAR Chief Executive; and Dr Peter K N Lam, Hong Kong Trade Development Council Chairman, said that Hong Kong has been making great strides in new sectors, such as innovation and sustainability, in which we can collaborate with Cambodia |
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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 research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.