Financial Secretary Paul Chan’s Visit to Qatar: A Step Towards Strengthened Ties
On September 27, Financial Secretary Paul Chan arrived in Doha, Qatar, to initiate discussions aimed at enhancing collaboration between Hong Kong and Qatar. His visit included meetings with prominent figures in finance, politics, and investment, signaling strong intentions for deepening bilateral cooperation along various fronts.
Engaging with Key Leadership
During his trip, Mr. Chan engaged with Ms. Zou Jiayi, President and Chair of the Asian Infrastructure Investment Bank (AIIB). The dialogue focused on vital topics such as boosting collaboration, fostering regional infrastructure projects, and leveraging Hong Kong’s strengths in financial services and talent. Mr. Chan expressed enthusiasm over the AIIB’s establishment of an office in Hong Kong, emphasizing potential joint initiatives in areas like catastrophe bond issuance and green finance. He highlighted the significance of technology, innovation, and talent training as essential components for future development.
Discussing Economic Diversification
In a significant meeting with Qatar’s Minister of Finance, H.E. Ali bin Ahmed Al Kuwari, Mr. Chan explored global economic dynamics and the policies that govern both regions. They discussed how the Middle East’s ongoing economic diversification could present new opportunities for both Hong Kong and Qatar. Mr. Chan noted Hong Kong’s vital role as a platform within the Belt and Road Initiative, which serves to facilitate capital flows, bilateral investments, and collaborative ventures in trade and infrastructure.
Networking with Business Leaders
Furthermore, Mr. Chan met with members of the Qatar Businessmen Association, which included influential business leaders from sectors such as finance and shipping. He introduced Hong Kong’s unique status under the “one country, two systems” framework as a bridge connecting Mainland China with global markets. He shared how Hong Kong benefits from strong support from the Mainland, allowing easy access for international companies to penetrate the vast Chinese market. Simultaneously, he emphasized Hong Kong’s adherence to international business norms, offering a secure and conducive environment for professionals and investors alike.
Exploring Investment Opportunities
Mr. Chan proposed mutual delegation visits and institutional cooperation to enhance relations in commerce and investment between the two regions. He expressed a desire to explore mutual recognition arrangements with the Qatar Stock Exchange for facilitating dual listings, allowing Qatari businesses to access Hong Kong’s international fundraising landscape. This initiative aims to attract both international and Mainland capital, which will be crucial for supporting and advancing business operations in both jurisdictions.
In addition to these high-level meetings, Mr. Chan engaged with senior executives from Doha Venture Capital and the Qatar Investment Authority, further aiming to solidify investment partnerships and promote industry collaboration. His subsequent interactions with leaders from major Qatari firms sought to underline the benefits of establishing a presence in Hong Kong, particularly in innovation and technology fields.
With upcoming commitments scheduled on September 28, Mr. Chan is expected to participate in events related to the AIIB’s Annual Meeting before returning to Hong Kong late that night. This visit not only strengthens ties with Qatar but also opens the door to prospective collaboration across various sectors, benefiting both regions and setting the stage for enhanced economic growth.