TDC chair eyes Uzbekistan opportunities in next stop

With the chief executive and his delegation wrapping up the Kazakhstan leg of his Central Asia mission, Hong Kong Trade Development Council (TDC) chairman Frederick Ma said he now turns his focus to Uzbekistan, expressing strong expectations for reciprocal deals and new collaboration models during the upcoming visit. Ma described the Kazakhstan stop as “very meaningful,” noting it's the birthplace of the New Silk Road where President Xi Jinping first announced the Belt and Road Initiative at a landmark speech delivered at Nazarbayev University in 2013. He also pointed to the signing of 43 memoranda of understanding (MoUs) and the launch of direct flights between Hong Kong and Almaty next year, saying the visit had opened “a lot more doors for Hong Kong and Chinese mainland businesses.” Turning to Uzbekistan, the TDC chief outlined clear goals for the next leg. “We will meet again many government officials as well as entrepreneurs in that country,” he said, noting that Uzbek senior leaders had visited Hong Kong a few weeks ago. “This is a very good way to reciprocate their visit.” While Ma did not disclose specific MoUs being pursued for Uzbekistan, he confirmed he was looking forward to the trip – his first to the country, compared with three previous visits to Kazakhstan. On potential collaboration models, Ma pointed to growing financial linkages with Central Asia. He revealed that at least one portfolio company of the region’s sovereign fund is expected to list in Hong Kong, following in the footsteps of Kazakh entities using Hong Kong’s bond and equity markets. A mining company dual-listed in Hong Kong and Astana last year, he added. The Uzbekistan visit is set to build on this momentum, with Ma signaling that the TDC sees Central Asia as a long-term engagement priority. Edited by Edmond Fong