The Federation of Hong Kong Industries (FHKI) on Wednesday pledged to leverage its professional services to help more local goods reach markets in the Association of Southeast Asian Nations.
The move comes as the local statutory industrial organization anticipates that corporate overseas expansion will be a focus of the city’s development next year.
Speaking at a news conference, FHKI Chairman Anthony Lam Sai-ho said many companies pursuing global expansion often have sufficient funds and products, but lack the “last mile” — an understanding of overseas market regulations and local conditions.
To connect Hong Kong’s industry with the world, FHKI will focus on helping companies go global, with particular support for local firms seeking new markets, Lam said. The companies will also work closely with Chinese mainland partners to explore opportunities together, he added.
The federation in September launched “Global Connect”, a platform designed to help enterprises comply with regulations during overseas expansion, and manage associated risks.
“Expanding globally inevitably requires professional services such as legal, accounting, tax, and certification support,” FHKI Executive Deputy Chairman Ricky Chan Wai-chung said. “Within the federation, there are intellectual property centers and certification departments that can provide enterprises with diagnosis, matching and referral services.”
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The organization also teamed up with the ASEAN Council to provide on-the-ground support for companies establishing operations in ASEAN markets. It also acts on behalf of Hong Kong businesses to liaise with local government departments and relevant agencies.
Lam said that the goal is to enhance collaboration between the Guangdong-Hong Kong-Macao Greater Bay Area and ASEAN countries, fostering economic diversification in areas like commodity trading, the halal industry, and cultural commerce.
Wong Wing-wai, lawmaker-elect for the industrial (first) functional constituency, said that under the “one country, two systems” principle, Hong Kong is leveraging its robust common law system, internationally aligned financial systems, highly open markets, and diverse professional talent to serve as a superconnector and super-value-added platform, offering innovative advice and solutions for enterprises expanding overseas.
The FHKI’s initiative will complement the Hong Kong Special Administrative Region government’s efforts to support mainland enterprises in going global. Earlier this year, the GoGlobal Task Force was established as a one-stop platform, integrating Hong Kong’s overseas offices, including those under Invest Hong Kong and the Hong Kong Trade Development Council, to attract mainland enterprises seeking to expand overseas via Hong Kong.
Contact the writer at akirawang@chinadailyhk.com
