Hong Kong: Hong Kong will sign nine memorandums of understanding (MoUs) and cooperation agreements with Belt and Road countries, as well as 36 corporate deals worth nearly US$1 billion during the ongoing 10th Belt and Road Summit Forum, Hong Kong Special Administrative Region, Chief Executive John Lee Ka-chiu said in his opening address on Wednesday.
This year marks a significant milestone as the Summit celebrates its 10th edition under the theme Collaborate for Change • Shape a Shared Future. The event has convened over 90 key officials and business leaders from Belt and Road countries and regions, aiming to explore new opportunities for collaboration and forge a win-win future.
On the first day of the Summit, 33 memoranda of understanding (MoU) were signed, covering projects in Australia, Indonesia, Kazakhstan, Malaysia, Qatar, the UAE, and more, fostering business cooperation covering multiple sectors including finance, infrastructure and technology.
The Belt and Road Summit, jointly organised by the Hong Kong Special Administrative Region Government (HKSAR) and the Hong Kong Trade Development Council (HKTDC), opened on Wednesday at the Hong Kong Convention and Exhibition Centre.
On the second day, the Summit will continue to showcase the signing of more MoUs, fostering even greater collaboration and tangible results.
The Opening Session featured opening remarks by John Lee, Chief Executive of the HKSAR, and welcome remarks by Professor Frederick Ma, Chairman of the HKTDC. Special addresses were delivered by Yan Dong, Vice Minister of the Ministry of Commerce of the People's Republic of China, Li Zhen, Vice Chairman of the State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China and Xiao Weiming, Deputy Secretary General of the National Development and Reform Commission of the People's Republic of China. Keynote address was delivered by Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia.
Professor Ma said: “We are proud to celebrate the 10th edition this year. The Summit has become a cornerstone event supporting the Belt and Road Initiative. Over the past decade, it has been gathering key voices in government and business from across the Belt and Road and beyond for dialogue and collaboration. Vital partnerships have been forged, impactful projects have been launched, and cross-border ties have been strengthened. And this year is no different. Collaboration opportunities once again take centre stage.”
Policy driving new opportunities, multilateral dialogue fostering collaboration amidst global economic uncertainty, how businesses can seize opportunities in times of change has become increasingly important. Following the Opening Session, the Policy Dialogue titled Embracing Emerging Opportunities in Times of Economic Uncertainty was hosted by Algernon Yau, Secretary for Commerce and Economic Development of the HKSAR.
The session featured other key government officials, including Anthony Loke, Minister of Transport of Malaysia; Dr. Ahmad Mohammad Al Sayed, Minister of State for Foreign Trade Affairs of Qatar; Umid Abidkhadjaev, Deputy Minister of Economy and Finance, Uzbekistan; Yerlan Sagnayev, Vice Minister of National Economy of Kazakhstan; and Khaled Al Khattaf, CEO of Saudi Investment Promotion Authority of Saudi Arabia. They discussed the latest policies and development opportunities related to the Belt and Road Initiative (BRI) and explored ways to enhance multilateral economic cooperation.
On the first day, the Business Plenary themed ASEAN: Unveiling New Opportunities for Growth and Collaboration was hosted by Dr Victor Fung, Chairman of Fung Investment. The session featured distinguished speakers including Zeng Qi, Vice President of CITIC Group Corporation; Tony Fernandes, CEO of Capital A; Anthony Leung, Group Chairman of Nan Fung Group. They explored the latest developments and collaborative opportunities in key sectors, including infrastructure, financial investment, digital economy and green energy within the ASEAN region.
The Summit offered numerous opportunities for networking. The Keynote Luncheon, under the theme of Fostering Regional Cooperation through Concrete Business Partnerships, featured a welcome address by Paul Chan, Financial Secretary of the HKSAR, opening remarks by Chen Liang, Chairman of the Board of Directors and Chairman of the Management Committee of China International Capital Corporation Limited, and a keynote speech by Renat Bekturov, Governor, Astana International Financial Center (AIFC).
The Cocktail Reception included special remarks from Algernon Yau, Secretary for Commerce and Economic Development of the HKSAR, a welcome address by Professor Frederick Ma, Chairman of the HKTDC, and opening remarks from Sun Yu, Vice Chairman and Chief Executive of Bank of China (Hong Kong) Limited. The occasion also served as a celebration of the 10th edition of the Summit, marking a significant milestone in fostering international collaboration and connectivity.
Focus on key projects and target markets
Project and business matching is a key component of the Summit, helping to transform the BRI into tangible economic cooperation. This year, the Summit introduced two Signature Belt and Road Projects Sessions aimed at encouraging Hong Kong’s professional services and businesses to participate in major infrastructure developments, thereby fostering regional cooperation and economic growth. The first session featured Dr Chula Sukmanop, Secretary-General of the Eastern Economic Corridor Office in Thailand, and discussed investment opportunities in the key development areas of the Eastern Economic Corridor. The second session on Thursday will be is hosted by Omar Abed, a representative from the New Murabba project in Saudi Arabia, who will share insights on integrating sustainability into urban design and the associated development opportunities.
Thursday’s Project Investment Session will introduce a new focus session titled Middle East & ASEAN Market Focus, with speakers including Varong Tangpraprutgul, Managing Director of AMATA City Lao Company Limited; Alan E. Wijaya, Chief of Business Development Officer of PT. Jababeka TBK; Dr YT Chin, Founder and CEO of Silicon Connect; Yin Haijie, Chairman of the Board of Jiangsu Luyi Investment Co., Ltd.; Rumaitha Al Busaidi, Business & ICV Development Manager of Hydrogen Oman (Hydrom); Mohammed Alasseri, Chief Operating Officer of Special Integrated Logistics Zone and chaired by James Law, CEO & Founder of Cybertecture, who will explore the potential opportunities in these two key markets. This session aims to provide businesses with targeted investment and collaboration prospects, further reinforcing Hong Kong's role as a vital hub for the BRI.
Deal-making fosters collaboration
This year’s Summit continues to offer investment and business matching services to forge partnerships. The project investment sessions will showcase more than 300 investment projects.
The Belt and Road Deal-Making provides a full range of options, in both physical form on 10-11 September and online on 15-16 September, with more than 800 one-to-one project matching meetings expected to take place.
The Summit features an exhibition area across five distinct zones. ASEAN Zone, a new feature this year to focus on the latest projects across various sectors of the ten member states; the Hong Kong Zone to bring together local service providers, showcasing the outstanding services and business advantages; the Global Investment Zone to present large-scale investment projects and opportunities from different countries; the InnoTech Zone to showcase cutting-edge innovations, AI, digital technologies and solutions from around the world and the Mainland Zone to highlight the latest developments in infrastructure, advanced manufacturing, and the digital economy in mainland China.
The 10th Belt and Road Summit is supported by a wide range of partners, including China International Capital Corporation Limited as Strategic Partner, and Bank of China (Hong Kong) Limited as the Banking Partner. Other supporters include The Hongkong and Shanghai Banking Corporation Limited as the Global Connectivity Partner, Standard Chartered Bank (Hong Kong) Limited as Cross-border Business Partner, Huatai Securities Co., Ltd. as Innovative Finance Partner, as well as China Mobile International Limited, China Telecom Global Limited and China Unicom Global Limited as Platinum Sponsors.