CE Boosts HK-Singapore Ties

Chief Executive Carrie Lam today updated the business community in Singapore on Hong Kong’s latest developments during a webinar attended by more than 500 participants.

She highlighted Hong Kong's unparalleled strengths under “one country, two systems” making the city an ideal gateway for Singaporean businesses to tap into the opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and Mainland China as a whole.

Mrs Lam said the Free Trade Agreement and the Investment Agreement between Hong Kong and the Association of Southeast Asian Nations, which came into full effect earlier this year, will further enhance the relationship between Hong Kong and Singapore.

She added that Hong Kong is keen to join the Regional Comprehensive Economic Partnership with a view to strengthening regional economic integration and promoting free trade.

With the clear support from some of the partnership’s member states, Mrs Lam said she looks forward to beginning discussions on Hong Kong’s accession to the partnership at the earliest opportunity.

The Chief Executive pointed out that with the implementation of the National Security Law and improvements to the electoral system, stability has been restored in Hong Kong society and the legitimate rights and freedoms of the people and businesses are safeguarded.

She called on Singaporean businesses to explore the new opportunities in Hong Kong brought about by the National 14th Five-Year Plan which reaffirms the nation's unwavering support for Hong Kong's development in a number of key areas as well as the city’s active participation in the bay area development and the Belt & Road Initiative.

Addressing questions from the attendants, Mrs Lam stressed that during the social unrest and the pandemic, Hong Kong’s financial system has proven its resilience.

She noted that Hong Kong has unrivalled connectivity with the Mainland’s financial markets and offers direct two-way access and encouraged enterprises in Singapore to consider listing in Hong Kong and to set up a presence in the city to tap the opportunities in the financial sector including those in green finance.

Mrs Lam also said Singapore remains Hong Kong’s priority candidate among overseas places for the setting up of an air travel corridor, and that the two governments will review the way forward in late August, taking into account the latest epidemic situation.

The “Hong Kong - an Ideal Gateway” webinar was co-organised by the Hong Kong Economic & Trade Office in Singapore and InvestHK.