On 9 August 2019, as part of the International Business Committee (IBC), MexCham attended the Policy Address Consultation Meeting with Mr. Paul Chan, Financial Secretary, and Mr. Edward Yau, Secretary for Commerce and Economic Development. The purpose of the meeting was to hear what foreign chambers of commerce would like to see included in the Chief Executive’s 2019 Policy Address.
Here is a summary of the topics presented by the chambers in attendance:
1. The political situation in Hong Kong since June this year is putting the city’s long-established business reputation in jeopardy. Business confidence will continue to decline unless the Hong Kong Government chooses to genuinely and openly engage with protestors and its citizens at large.
2. Diversifying how Hong Kong promotes itself is necessary for it to be attractive as an international destination for business and tourism. Focusing solely on the Mainland Chinese market is limiting. Moreover, making Hong Kong a part of the South China tourism strategy would be missing out on the opportunity to promote Hong Kong’s unique values.
3. There is an incredible chance to use Hong Kong’s harbor as the great asset that it is. Site 3 should be open for a public and private partnership to restore the image of the city and to make it into a place for people to celebrate the harbor daily.
4. More favorable tax and other financial measures for start-up companies and SMEs should be implemented for these businesses to want to set up and stay in Hong Kong. Otherwise, Hong Kong will lose them and their innovative ideas to other, more appealing cities in the region.
5. Requiring large land developers to build public housing as part of all projects they have should be standard in the SAR. Access to proper homes will make Hong Kong a much better place to live, which in turn will attract even more international companies and foreign talent to the city.
TOPICS FOR UPCOMING PRE-IBC MEETING
If you have topics you would like MexCham to bring forth at the next pre-IBC meeting, please inform us by Thursday, 12 September. Write to us at email@example.com and let us know how we can represent your interests within Hong Kong’s international business community.