The Director-General of Investment Promotion of the Hong Kong Special Administrative Region, Mr Stephen Phillips, today (July 23) started his duty visit to Bangkok, Thailand, in the latest bid to attract Thai companies to set up a presence in Hong Kong to tap the new business opportunities that the city has to offer.
During the visit, Mr Phillips will meet with leaders from diverse industries as well as officials from the Thailand Board of Investment. Thailand is the second-largest economy in Association of Southeast Asian Nations (ASEAN), hence the visit is a significant step for Invest Hong Kong to lure Thai companies seeking an international business platform from which to grow.
Mr Phillips said, “Through this visit I hope to update Thailand business communities of the various new economic developments in Hong Kong, so that they can better understand the benefits of having a presence in Hong Kong.
“The country is undergoing a significant economic transformation with the Thailand 4.0 policy. The various initiatives include reinforcing promotions and support for innovation, creativity, research and development, higher technologies and green technologies. These bear a lot of similarities with some of Hong Kong’s economic priorities,” he added.
He continued, “While Hong Kong is a convenient channel for companies to manage and raise funds for Belt and Road projects, the Guangdong-Hong Kong-Macao Greater Bay Area development adds another appeal. Hong Kong is being identified as the international hub for this integrated market that has a population of 71 million and a gross domestic product of US$1.6 trillion. By having a base in Hong Kong, companies from Thailand can easily tap the huge opportunities arising from the bay area.”