Chief Executive John Lee yesterday (May 13) led a business delegation comprising representatives from Hong Kong and mainland enterprises to begin his visit to Kuwait, meeting with local leaders and business representatives to introduce Hong Kong's strengths and express the city's desire to strengthen cooperation with Middle Eastern countries.
He welcomed Kuwait to explore investment and business opportunities in Hong Kong and to establish a Kuwait Investment Office.
Speaking to the media that evening, Lee said the first day of the Kuwait trip went smoothly. He expressed gratitude for the meetings with the country's Emir and Acting Prime Minister, as well as the Acting Prime Minister's arrangement for most government ministers to meet the delegation, achieving the initial goal of establishing a connection network between the two sides. He also visited local cultural facilities and looked forward to further deepening ties and cooperation in cultural exchanges between Hong Kong and Kuwait.
On the morning of May 13, Lee met with Kuwait's Emir (Head of State) Meshal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, and Acting Prime Minister Fahad Yusuf Saud Al-Sabah to exchange views on enhancing cooperation between Hong Kong and Kuwait. Later, he attended a roundtable meeting chaired by the Acting Prime Minister, engaging in in-depth discussions with senior Kuwaiti officials on finance, trade, and innovation and technology. Lee and the Acting Prime Minister witnessed the signing of memoranda of cooperation between Hong Kong's InvestHK and the Hong Kong Trade Development Council (HKTDC) with Kuwait's Direct Investment Promotion Authority. He also joined delegation members at a networking luncheon hosted by the Acting Prime Minister.
HK's professional services to help advance Kuwait's 2035 vision
Lee noted that Kuwait is the first Gulf Cooperation Council (GCC) member state to have signed both an Investment Promotion and Protection Agreement (IPPA) and a Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Hong Kong, laying a solid framework and foundation for bilateral economic and trade cooperation. He said Kuwait has been actively diversifying its economy in recent years, proposing the "Kuwait Vision 2035" vision to advance digital transformation and establish itself as a regional and international financial and trade hub.
As an international financial, shipping, and trade center with world-class professional services, Hong Kong has broad cooperation potential with Kuwait in finance, investment, digital economy, and innovation and technology, helping Kuwait advance its 2035 vision, according to Lee.
"I proposed that Hong Kong hopes to sign a free trade agreement with GCC countries and hopes Kuwait, as the GCC's rotating chair in 2025, will support and facilitate related negotiations... Kuwait's sovereign wealth fund is one of the largest in the world by assets, and we also welcome Kuwait's sovereign wealth fund to explore business opportunities in Hong Kong."
As Kuwait will assume the GCC's rotating presidency in 2025, Lee looks forward to deepening Hong Kong-Kuwait cooperation while fostering closer economic, trade, and cultural exchanges with more GCC member states.
Lee emphasized that under "one country, two systems," Hong Kong enjoys unique connectivity advantages domestically and internationally. The city will fully leverage its role as a bridge for "bringing in and going global," complementing mainland enterprises' strengths while deepening international cooperation. He welcomed the Kuwaiti government and businesses to utilize Hong Kong's role as a "super connector" and "super value-adder" to jointly explore new opportunities under the Belt and Road Initiative (BRI) for mutual benefit.
Cooperation in different areas
Later, Lee and his delegation met with representatives of Kuwait's Bukhamseen Group Holding Company to learn about its latest developments in construction, real estate, financial services, and culture and tourism. Lee introduced Hong Kong's development opportunities and advantages, including its highly internationalized and market-oriented business environment and its pool of professional talent. He encouraged the company to use Hong Kong as a springboard to diversify its business and tap into the mainland market, seizing the vast opportunities presented by BRI and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development.
Afterward, Lee visited the Sheikh Abdullah Al Salem Cultural Centre to learn about Kuwait's cultural and artistic projects and developments. Opened in 2018, the center comprises eight buildings, six of which are museums with different themes, housing a total of 22 exhibition halls.
Lee said the Hong Kong SAR government is committed to developing the city into a hub for international cultural exchanges, with the West Kowloon Cultural District being one of the world's largest cultural projects. Both Hong Kong and Kuwait value cultural and artistic development, and he looks forward to further deepening ties and cooperation in cultural exchanges between the two sides.
(Source: Ta Kung Pao, Wen Wei Po; Journalist: Gong Xueming; English Editor: Darius)
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