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The government is actively recruiting carbon trading companies in the Middle East. Some foreign businessmen say they have given up the idea of ​​withdrawing from Hong Kong. General Chamber of Commerce: Hong Kong has a market of 85 million people

June 4, 2024

In the wake of anti-epidemic measures, some foreign capital initially withdrew from Hong Kong. However, foreign businessmen have noted a resurgence in interest due to the SAR government’s proactive efforts to attract carbon trading companies from the Middle East, successfully bringing them back to Hong Kong. Additionally, the General Chamber of Commerce’s visits to ASEAN countries aimed at clarifying Hong Kong’s actual situation have bolstered foreign investment confidence.

Carbon trading entrepreneur Braham had considered relocating his company to Singapore post-pandemic. However, the government’s vigorous campaign last year to invite carbon trading firms to establish offices in Hong Kong made him reconsider. Braham explained, “With 21% of the global trading volume, it’s crucial for carbon companies to be in Hong Kong. This decision was straightforward—we need to develop our business here and integrate into the local ecosystem.” He emphasised that instead of losing business, the government’s investment initiatives have led two international carbon certification agencies to set up in Hong Kong, with whom he plans to collaborate to expand the mainland’s carbon credit market. Braham added, “For international business, Hong Kong is the gateway to China, not Shanghai or Beijing. The favorable tax regime and business environment here need no further enhancement. The government has done its part; what remains is broader publicity.”

Complementing government efforts, the Hong Kong General Chamber of Commerce plays a crucial role in promoting Hong Kong’s advantages. For instance, their delegations to ASEAN and the Middle East have engaged with local foreign businessmen. Legislative Council Member Lam Kin-fung noted, “Seeing is believing. When we present the real situation to them, their confidence grows. Importantly, when they visit Hong Kong and witness the conditions firsthand, many express interest in exploring the Greater Bay Area. This area, with its population of 85 million compared to Hong Kong’s 7.5 million, offers vast development opportunities.”

Lam also highlighted that future large-scale infrastructure projects in Hong Kong, such as those in the northern metropolitan area, present significant opportunities for foreign investment and collaboration.

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