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The Director of the Hong Kong Economic and Trade Office in Singapore, Mr Fong Ngai, addressed the Filipino Young Chinese Entrepreneur Association Business Forum and Franchise Asia Philippines 2015 organised by the Philippine Franchise Association in Manila, the Philippines, yesterday and today (June 11 and 12) respectively.
Addressing some 70 participants at the Forum, Mr Fong said that the Philippines and Hong Kong enjoy close economic relations, with total bilateral trade amounting to US$9.7 billion in 2014, an increase of 18 per cent year on year.
"I am very honoured to participate in the Filipino Young Chinese Entrepreneur Association Business Forum and meet with participants from various business sectors, mainly young entrepreneurs," he said.
"The vibrant and dynamic culture in Hong Kong and its openness to the world with a mix of creative industries have always been the city's hallmarks. Hong Kong welcomes talents, professionals and entrepreneurs from around the world to work and stay in the city. This will further advance our competitive edge in today's globalised and fast-changing environment," he added.
"In terms of business, Hong Kong, as a 'super-connector', has much to bring to facilitate Philippine businesses' entry into the Mainland market. The 'super-connector' role, adding to the city's four pillar industries, comprising trading and logistics, financial services, professional and producer services, and tourism, has been a driving force of Hong Kong's economic vibrancy," he said.
The Financial Secretary, Mr John C Tsang, outlined in his 2015-16 Budget that Hong Kong would leverage on the 21st Century Maritime Silk Road initiative put forward by the Central Government and further strengthen ties with the countries concerned, including those in Southeast Asia.
Mr Fong also addressed some 30 participants at a breakout session on international business opportunities at the Franchise Asia Philippines 2015 conference. He noted that Hong Kong, with more than 60 million visitors in 2014, the presence of a relatively large population of high-net-worth individuals, and close proximity to Guangdong, offers Philippine franchising companies attractive business opportunities. In addition, companies from the Philippines can also use Hong Kong to leverage on the Mainland and Hong Kong Closer Economic Partnership Arrangement to expand into the vast Mainland Chinese market.
Ends/Friday, June 12, 2015
Issued at HKT 21:44
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