Hong Kong SAR Chief Executive John Lee leads a delegation to the capital of Laos, Vientiane, this week as the first stop on a three-nation ASEAN visit.
Organised by the Hong Kong Trade Development Council (HKTDC), the delegation includes some 30 leaders of international, Mainland Chinese and Hong Kong enterprises and conglomerates operating in finance and insurance, innovation and technology, professional services, infrastructure, energy and hospitality.
The delegates are visiting key locations in and around Vientiane to better understand the socioeconomic development of Laos and the impact of the Belt and Road expansion as well as local chambers of commerce to explore business opportunities.
Dr Peter K N Lam, HKTDC Chairman, said: “Our aim with this visit is to strengthen the bond between Laos and Hong Kong and, in doing so, strengthen broader economic ties between ASEAN and Hong Kong. We seek to discuss trade and economic opportunities and enhance cultural exchange between Laos and Hong Kong.”
Hong Kong, as an international finance, investment and cultural exchange hub bridging Mainland China and the rest of the world, seeks to build upon the close relationship between Laos and Mainland China by providing opportunities for Lao businesses to reach the mainland market.
In particular, the Vientiane Saysettha Development Zone and the 15-day visa-free policy for tourists from Mainland China to Laos are expected to bring about new opportunities for business and tourism.
Hong Kong aims to reinforce partnerships with Laos to support the growth of Lao SMEs in areas, such as banking, digital finance, logistics and e-commerce, by helping them build capacity, find partners and explore new markets.
Opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through mutually beneficial collaboration under the Belt and Road Initiative (BRI) will also be explored.
The visit to Laos is part of a wider mission to ASEAN taking place this week, during which the Hong Kong delegation will also visit Cambodia and Vietnam to strengthen trade and economic cooperation and cultural exchange between ASEAN and Hong Kong.
ASEAN is Hong Kong's second-largest trading partner in merchandise trade, with a total trade volume of US$145 billion last year.
As the international gateway to the rapidly growing Mainland China market, Hong Kong connects this vast market with the rest of the world. Development plans, such as the GBA and BRI create many arising opportunities, reinforcing Hong Kong’s role as superconnector.
This three-nation visit builds on the success of previous ASEAN missions to Singapore, Malaysia and Indonesia last year and Thailand in 2022.
