BRI Summit kicks off in Hong Kong, explores opportunities in emerging markets  

Hong Kong: The 9th Belt and Road (BRI) Summit kicked off here on Wednesday with discussions focusing on capturing opportunities in emerging markets in ASEAN, the Middle East and adjacent regions as Hong Kong seeks to expand its business success in these areas.
Key officials and business and academic leaders from the Belt and Road Initiative countries and regions shared views at the two-day meeting under the theme ‘Building a Connected, Innovative and Green Belt and Road’.

Chief Executive John Lee delivers a keynote speech.

A brand-new Green Chapter is added this year, underscoring the importance of promoting green and sustainable development, aligning with the BRI’s new stage of high-quality development.
Jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), the annual gathering brings together around 6,000 high-profile individuals from some 70 countries and regions.
Discussions focus on leveraging Hong Kong’s unique advantages to explore markets and uncover opportunities.
As a ‘value adder and super connector’, linking China with the world, the island city is seeking to deepen networks and expand its business footprint in emerging markets and beyond.
This Summit’s ASEAN-focus agenda was motivated by the recent and fruitful visits by HKSAR’s Chief Executive John Lee to Laos, Cambodia and Vietnam, when 55 cooperation MOUs were signed.
Highlighting the main achievements of his visit to the three ASEAN countries, Mr Lee said “One key achievement of the mission was our shared agreement to jointly promote the Belt and Road Initiative with Hong Kong.”
“Another was their reaffirmation of support for Hong Kong’s accession to the RCEP - the Regional Comprehensive Economic Partnership.”
ASEAN (Association of Southeast Asian Nations) is Hong Kong’s second-largest trading partner and the world’s fifth-largest economy. Last year, two-day trade was valued at US$144.6 billion, accounting for nearly 13 percent of Hong Kong’s total foreign trade.

In light of ASEAN’s enormous potential, discussions explore promising prospects from rapidly rising ASEAN. The focus was on Hong Kong’s role in facilitating multilateral business cooperation as well as the strategies global enterprises are adopting within the latest global landscape.
Talks also explore rising opportunities in the Middle East and other markets along the Belt and Road.
While emerging economies provide opportunities for Hong Kong’s business expansion, the city, as a global financial, investment, trade and logistics hub, meanwhile provides a platform for developing BRI countries to mobilise investment, finance, and trade cooperation to drive their development needs.
The debuting Green Chapter showcases Hong Kong’s advantages in green tech and finance, which continue to thrive.
In 2023, the total amount of green and sustainable debt issued in Hong Kong surpassed US$50 billion. Among this, the total amount of green and sustainable bonds arranged for issuance in Hong Kong ranked first in the Asian market, accounting for 37 percent of the total.
“Earlier this year, we launched the world’s first multi-currency, tokenised green bond, part of our commitment to Hong Kong’s rise as a green finance hub,” Mr Lee told participants.
Hong Kong’s expertise in architecture and engineering can also fill gaps in emerging economies, he added.
To foster greater cooperation, the Summit also features investment and business matching, deal making and an exhibition. More than 280 investment projects are expected to be matched. Project investment sessions enable project owners from different countries to present projects, giving investors and service intermediaries a comprehensive understanding of the investment opportunities in different sectors.
Project investment sessions focus on four main areas: energy, natural resources and public utilities; innovation and technology; urban development; and transport and logistics infrastructure.
The Summit’s exhibition area gathers over 100 exhibitors across the Hong Kong Zone, Global Investment Zone and InnoTech Zone.
The Hong Kong Zone showcases the services and business advantages of Hong Kong service providers, while the Global Investment Zone presents large-scale investment projects, cultural and technological developments and global investment opportunities. The InnoTech Zone features cutting-edge innovations, AI, technologies and solutions from exhibitors around the globe.
The BRI was proposed by Chinese President Xi Jinping in 2013 to drive common development.
At the third Belt and Road Forum for International Cooperation in Beijing last October, the Chinese leader announced eight major steps to support the collective pursuit of high-quality Belt and Road cooperation. 

By Souksakhone Vaenkeo
(Latest Update September 12, 2024)