Amid geopolitical and trade tensions around the world, the Hong Kong business platform is seen as increasingly vital for the Middle East.
The number of Middle Eastern companies in Hong Kong increased by 20% year-on-year in 2024, which is set to rise in the years ahead.
In recent years, in their quest to diversify and expand further, businesses from the region have shown growing interest to list in Asia’s World City.
The HKTDC is seeing a surge in the number of Middle Eastern government and business leaders at its events in Hong Kong to engage in dialogue, secure new partners and investors and find ways to collaborate for success.
One of them is the Investment Promotion Agency Qatar (Invest Qatar).
As part of its long-term strategy to bolster ties with the rest of Asia, the agency has long envisioned opening an office in the Special Administrative Region.
With the city’s unique strengths and advantages, including its robust financial and business infrastructure, the Qatari investment promotion body saw opening an office in Hong Kong as a strategic move to attract investment opportunities to its country.
Invest Qatar’s Hong Kong office opened in July 2024, with the support of the HKTDC.
The office serves as a regional hub targeting investors from not only Hong Kong and Mainland China, but also Southeast Asia.
This is Invest Qatar’s first overseas office to attract more foreign direct investment into the country to fuel its diversifying, growing economy.
From continuous engagement and insight sharing on Hong Kong’s advantages, latest developments and opportunities to facilitating connections with key Hong Kong business stakeholders, the HKTDC played an instrumental role.
The Council’s connection with Invest Qatar goes back to June 2019, when the country’s investment promotion arm first became operational.
Our Dubai office – which spearheads the HKTDC’s work in the Middle East and Africa – remains in regular contact with the government body, including its Director of Investor and Stakeholder Relations Jeroen Nijland to exchange views on investment opportunities and Hong Kong’s regulatory and business environment.
Potential areas of cooperation across sectors are often discussed, including identifying investment opportunities in Qatar for Hong Kong and Mainland China businesses.
Thanks to the HKTDC’s efforts, Hong Kong companies from a range of sectors – such as financial services, logistics, professional services and innovation and technology – have shown increasing interest to explore opportunities in the Arab state.
For the Hong Kong SAR Chief Executive-led mission to Qatar in May, Invest Qatar and the HKTDC co-organised a high-level business luncheon, enabling local leaders to engage with the mission’s Hong Kong and Mainland China business delegates.
On this occasion, the investment promotion agency and the Council took their partnership a step further with the signing of a memorandum of understanding to boost bilateral trade and investment cooperation.
The Qatari entity also leverages HKTDC’s conferences in Hong Kong to promote its investment potential, network with government and business leaders from the city and around the world and attract investment interest.
Most recently, Invest Qatar partnered with the Consulate General of the State of Qatar in Hong Kong to organise the Qatar Pavilion in the Global Investment Zone at the 10th Belt and Road Summit in Hong Kong in September.
Its delegation included their Director for Greater China Junjie Si and Investor Relations Senior Specialist Nasser Ali Al-Kaabi.
During the summit, Mr Ali Al-Kaabi delivered a presentation on the country’s role as a partner in advancing global trade, connectivity and sustainable development.
“Our participation at the Summit provided us with a valuable platform to present Qatar’s investment opportunities to a global audience”, remarked Invest Qatar’s Head of Asia Pacific Mohammed Ibrahim Al Mulla.
The agency is keen to attend future HKTDC events to capitalise on the internationally diverse audience and advantageous business connections to be made.
“The HKTDC is a close and trusted partner, consistently supporting Invest Qatar in raising awareness of Qatar’s potential among Hong Kong businesses. Their role as a facilitator has been central in expanding our dialogue and deepening bilateral cooperation”, concludes Mr Al Mulla.