HK ready to support Kazakh tech city: John Lee

Chief Executive John Lee said on Thursday Hong Kong is well positioned to support the development of Kazakhstan's high-tech city, Alatau, by serving as a "gateway" for it to access global capital and the mainland market. The remarks came as Lee joined the Alatau City Investment Round Table to explore further collaboration opportunities after he led a high-level delegation to visit Central Asia last week. He noted the SAR is eager to build on the momentum to cooperate with the emerging "smart city" of Alatau, which is poised to become Kazakhstan's innovative and high-tech centre as well as an economic and investment hub. He pointed to Hong Kong's advantages such as its strong finance and wealth management industries, which allowed the city to become the world's largest cross-boundary wealth management centre. "Kazakhstani companies and funds can confidently issue bonds, raise equity or launch IPOs in Hong Kong. And, thanks to our world-class professional services, you will find it easy to do so," he told participants. "We are well positioned to help Kazakhstan fund high-potential infrastructure and innovation projects. We speak the language of global finance – and we look forward to doing so with Kazakhstan – with you." He also said the SAR can help Kazakh enterprises enter the mainland market thanks to its "unparalleled access", adding Hong Kong's vast talent pool can contribute to technological research and innovation. Located near Almaty, the largest city in Kazakhstan, Alatau is also expected to become a pivotal transport and logistics centre, linking Europe, China and Central Asia. Edited by Edmond Fong