HK delegation finds 'tremendous' Kazakh opportunities

A delegation led by Chief Executive John Lee has wrapped up a productive meeting in Kazakhstan, with business leaders describing the talks as "a very good start" and flagging strong mutual interest in investment and cooperation. The delegation participated in the Roundtable Forum on Economic Development, Trade and Investment Opportunities on Monday morning. Jeffrey Lam, chairman of the Hung Shui Kiu Industry Park's board of directors, said the delegation met with numerous companies and representatives from Kazakhstan who showed keen interest in investing in Hong Kong — while also seeking to attract Hong Kong firms to invest in their markets. "We felt the opportunity invested here is tremendous," he said. Lam, who is also an executive councillor, added the delegation is looking forward to hosting Kazakh counterparts in Hong Kong, potentially helping them set up factories, family offices or regional headquarters that could serve as a platform to expand into the mainland and other Asian countries. He said discussions from the forum covered a wide range of sectors, from industries to gold trading. Lam confirmed he would be signing several memoranda of understanding (MOUs), including a joint cooperation agreement with the largest business chamber in Kazakhstan and the Hong Kong General Chamber of Commerce. Another MOU in the technology sector, he said, is also planned. “The MOU will breed a lot of cooperation in areas of manpower exchange, information exchange, so on and so forth,” he said. “Business chambers, they are very important to trading.” Meanwhile, Frederick Ma, chairman of the Hong Kong Trade Development Council, described the presentations from Kazakh partners as "very interesting," spanning logistics, hotel operations and other industries. "There are lots of opportunities for Kazakhstan and Hong Kong and the Chinese mainland to cooperate," Ma said. "This is an excellent opportunity for us to get to know each other much better." Ma revealed that Kazakh partners are already planning a conference and roundtable in Hong Kong in mid-June, adding the delegation looks forward to a closer relationship between the two sides. He praised the chief executive's decision to lead such a large group to Central Asia, calling it "wonderful" as it allows businesspeople from Hong Kong and the mainland to mingle with their Kazakh counterparts. Edited by Tony Sabine