Opinion | Foreign firms must not turn their backs on Hong Kong

By Augustus K. Yeung

Introduction

Mr. Duncan Abate, an American business executive based in Hong Kong, says, "International businesses have long reaped the rewards of the city's free and competitive business environment. Now is the time to give back."

Bold words of moral courage and leadership!

An American Professional's Success Story in Hong Kong

"I arrived in Hong Kong from the United Kingdom in August 1994. Since then, I have worked for the same law firm in the city, starting as a junior lawyer and working my way through the ranks to become part of the management team. Like many other expats who have come to call this city home, I was drawn here by the abundance of opportunities, and by the spirit of enterprise for which it is known," narrates Duncan Abate, a partner of Mayer Brown and the Chair of the firm's Asia Board. ("Firms must not turn backs on Hong Kong". South China Morning Post. Wednesday, March 2, 2022)

And like many other global businesses, my firm has benefited greatly from the vibrancy and dynamism of Hong Kong and the world-class, market-driven business environment that, together with a robust legal system, has enabled international business to flourish.

This is why, as Hong Kong struggles to control the latest wave of Covid-19 infections, it is concerning to hear talk of departures or relocation from certain sections of the international business community.

A Business Leader Took the Lead to Help Fight Omicron

Granted, this has been a difficult time for everyone. But the more we work together, the faster the city and businesses that operate here can get back on their feet. We can, and should, all contribute to Hong Kong's anti-pandemic efforts rather than flee for the hills in its hour of need.

Vaccination is the key to boosting the city's defence. However, while vaccination rates across the population have been rising faster of late, there is still some way to go before they reach a safe level, especially among the elderly and very young.

As a result of the high transmissibility of the Omicron variant, public hospitals are now finding themselves overwhelmed and unable to cope with the backlog of patients. It is vitally important that the Hong Kong business community pulls together to do what it can to help.

Over the past weeks, it has been encouraging to see that local companies have converted hotel rooms into community quarantine facilities, offered to turn their premises into vaccination facilities, sourced and distributed Covid-19 testing kits, and provided anti-pandemic supplies to care homes for the elderly and to low-income families. Such actions are to be applauded.

Having reaped the benefits of Hong Kong's dynamic business environment for generations, it is now incumbent on global businesses to in turn support efforts to protect the community and ensure Hong Kong can fight the latest wave of infections. I would also encourage all companies to consider organizing corporate volunteer teams across the business sector to offer much needed support to those on the front lines of the pandemic at this critical time.

"International Firms! Support the City and Keep it Running…"

Above all, it is vital for international firms to support the essential business functions of the city and keep it running during this difficult time.

While the current phase may feel like a significant setback for Hong Kong and has led to anxiety and soul-searching within its communities, Hong Kong has weathered many critical periods of stress in the past and has always bounced back stronger. Just think of the financial crises of 1997 and then 2008, as well as the severe acute respiratory syndrome outbreak in 2003; throughout each, Hong Kong demonstrated its characteristic resilience and vigour.

Hong Kong is uniquely positioned in the world. It will continue to thrive. International businesses are always going to be part of the fabric of Hong Kong and must support the city in its hour of need.

"Now the business sector, including the international sector, has an opportunity to dig deep into its collective resolve and help Hong Kong overcome its current challenges and look towards the future. Time and again, Hong Kong has shown an extraordinary ability to adapt and succeed. Let us all join hands and respond to adversity with faith, solidarity and focus," says Duncan Abate, a partner of Mayer Brown. ("Firms must not turn their backs on Hong Kong". South China Morning Post. Wednesday, March 2, 2022)

Conclusion

Amid bickering news that the present US-Sino relations may still be a cause for concern, and that the conflict between Russian and Ukraine is worsening and creating a colossal humanitarian crisis, it is most consoling to hear the voice of a Hongkong-based American business executive. One brave American business leader has now timely stood up, not to take sides in the trade-war fights between the world's largest and second largest economies, but to inspire the people in the international business community to pitch in and kick out COVID-19 and its variant, the now almighty Omicron, which has challenged the Chinese central government's medical authority.

I am immensely impressed and emotionally too moved by our foreign friend, Mr. Duncan Abate. He is setting an example, affirming my prejudice that people in the international business sector are most apolitical and potentially no less powerful in swaying and lobbying governments in trade disputes.

As far as the pandemic is concerned, Hong Kong may be down, but not out: we can count on our American friends--in the international business sector. These respectable and educated people are the most well-informed and enlightened population cross-section among the Americans in the world's corridor of power.

I salute Mr. Duncan Abate for the voice that binds the city--a community in crisis--together.

The author is a freelance writer; formerly Adjunct Lecturer, taught MBA Philosophy of Management, and International Strategy, and online columnist of 3-D Corner (HKU SPACE), University of Hong Kong.

The views do not necessarily reflect those of DotDotNews.

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