Cut through the noise and take a fresh look at Hong Kong

I soon begin the last month of my sabbatical. One of the greatest luxuries of being on a sabbatical is having time to think and think more deeply about many issues.

Before I start a new, private sector role with a different focus, I thought I would take the opportunity to share my thoughts on Hong Kong as a leading international hub.? In short, Hong Kong has as much, if not more, appeal than ever. But business people must not get distracted by the incessant noise and get well-beyond the headlines to establish and understand the real situation.

Perceptions in some quarters really do not align with reality. Often the are shaped and propagated by poorly informed - or worse still ill-intentioned - media and politicians in certain parts of the world. Business leaders need to cut through the noise to be able to make sound, rational decisions.

The fundamental attractions of Hong Kong are robust. It’s location. It's open economy.? It’s simple tax system. It’s internationally- savvy talent pool. The ease of doing business. It's common law legal system.? And, of course, its special role as a conduit into and out of China as a special administrative region of the People’s Republic of China, something that truly is unique? (alongside Macau).?

So, with strong fundamentals and foundations, the question is are there growth opportunities to be seized?? The answer is a resounding yes! And the opportunities are broader than many people think. In Hong Kong itself there are good market opportunities across all sectors, both B2B and B2C, serving the needs of world class businesses and sophisticated consumers. What's more, Hong Kong is rapidly developing its innovation ecosystem with bold policies and investment.

But the opportunities go way beyond the Hong Kong market. The region called the Greater Bay Area is a market in its own right comparable in size to a major EU country.? And we all know scale counts.?

Hong Kong is also used by many businesses as an entry point to the dynamic ASEAN markets and its population of 600 million. and more and more ASEAB businesses are setting foot in Hong Kong.? It is a fact that Singapore is the 5th?largest source of FDI in Hong Kong, which says a lot about the seemingly endless and superficial Hong Kong vs Singapore debate.? The economies are intertwined.?

Looking into the not-too-distant future there is high potential for growth in the trade and investment corridors with GCC, Central Asia and Africa. This is fast developing and set against a geopolitical backdrop that is complex and nuanced. My impression is this is not on the radar of many businesses around the world in the midst of the noise and I happen to think it should be. Hence, why boards and the C-suite need to look beyond the headlines and see what really is happening.?Having people with the skills, experience and understanding will play a decisive role in realising success.

The world is in a period of flux and change, with many shared global evolving challenges requiring global collaboration.? Geo-politics infuses the commercial world more than at any time of most of our working lives.?Indeed, by extrapolation, the need for talent who understands global geopolitics in a commercial setting is becoming more and more a 'must have' skill set in any business operating across borders.

Economic growth will continue to pivot towards Asia, new trade and investment corridors will deliver growth opportunities.? Lo and behold, Hong Kong sits centrally within the entire region.? Now that is an advantage.? So I would say there is no better time than to look at Hong Kong afresh and explore with a clear mind how Hong Kong can help your business grow.

I know my former colleagues at Invest Hong Kong around the world are always available to help you understand what Hong Kong means and offers for your business.

As I indicated, I will be starting a new, private sector role in January - news on that to follow just before I start!? ??

#hongkong #GBA #opportunity #FDI #trade #investment #asia #gcc #centalasia #africa #growth