Economic ties between Africa and the Far East are set to strengthen as Loretta Lee, associate director-general of investment promotion at Invest Hong Kong (InvestHK), began an eight-day visit to SA and Rwanda yesterday.
The mission aims to promote Hong Kong as a springboard for enterprises from the continent to tap into the Chinese mainland and Asia-Pacific markets, according to InvestHK.
Lee is visiting Johannesburg for three days to meet with representatives from local chambers, financial institutions, banks and the fintech and professional services sectors.
Lee will then travel to Kigali, Rwanda, from 13 May to represent InvestHK at the Africa CEO Forum, where she will engage with C-suite executives from the continent's multinationals.
Africa holds a strategic position in the Global South and represents a vital engine of growth in an era of global economic uncertainty, says Lee.
“Interconnectivity is the key to unlocking this potential, and Hong Kong plays a strategic role in linking capital, talent, and innovation and technology between Africa, the Chinese mainland and international markets to drive high-quality, multilateral growth,” she says.
As the government's arm for both inward investment and Chinese mainland enterprises aiming to go global, InvestHK facilitates two-way investment through strategic market insights and policy facilitation, Lee adds.
African enterprises establishing a presence in Hong Kong can benefit from a globally recognised common law system and Asia's most competitive tax regime, says the agency.
Hong Kong has sharpened its competitive edge by announcing a halve in the profits tax to 8.25% from the standard 16.5% for qualifying physical commodity traders, according to InvestHK.
Share