9th Belt and Road Summit draws to a successful close

HONG KONG, Sept 13, 2024 - (ACN Newswire) - The 9th Belt and Road Summit, co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), successfully concluded today, attracting over 90 key government and business leaders from Belt and Road countries and regions.

Over 6,000 business participants from over 70 countries and regions explored opportunities, as the Belt and Road Initiative (BRI) enters the next golden decade. A total of record-high 25 Memoranda of Understanding (MoUs) were signed, demonstrating Hong Kong's role as super value-adder, successfully connecting people, information and capital.

Facilitating global business opportunities

The 25 MoUs signed, including 4 G2G and 21 B2B, involving government bodies and companies from Hong Kong, Mainland China, ASEAN - Indonesia, Malaysia, Vietnam - and the Middle East - Bahrain, Kuwait, the United Arab Emirates - Kazakhstan and more.

Following the HKSAR Chief Executive John Lee's mission to Laos, Cambodia and Vietnam with a business delegation and the mainland-Hong Kong visit to Hungary and Kazakhstan, these MoUs strengthened ties between Hong Kong and Belt and Road countries and regions.

Among the 4 G2G MoUs, one was signed between the HKTDC and the Ministry of Commerce of Cambodia, an extension of the fruitful visit by the Hong Kong delegation to Cambodia in July. The MoU aims to establish a framework to promote bilateral trade and economic cooperation, particularly within the BRI. The areas of cooperation include facilitating trade missions and business matching between Cambodian and Hong Kong companies as well as promoting Hong Kong's advantages to Cambodian businesses.

Among B2B MoUs, Farmacy International Pty Ltd from Hong Kong and FutureBright Society Enterprise Pty Ltd from Australia announced a strategic joint venture, Farmacy ANZ, that aims to drive sustainability in agricultural innovation and develop scalable green food networks across Australia and New Zealand.

Raymond Mak, Co-Founder of Farmacy, stated: “Our technology is set to be a game-changer, contributing to a sustainable future for communities in Australia and New Zealand. The joint venture will also launch projects that are aligned with Belt and Road green initiatives, focusing on sustainable agriculture and conservation.”

Michael Chan, Director of FutureBright, said: “The Belt and Road Summit provides a crucial platform for forging international partnerships that promote sustainable growth and innovation. Through this joint venture, Farmacy and FutureBright can attract investment and support for green technologies, advancing our shared vision of sustainable urban development and contributing to the broader goals of the Belt and Road Initiative.”

State-Owned Enterprise of Indonesia - Perumda Varia Niaga Samarinda, LINKTA Technologies Holdings Limited from Indonesia and Rainmaker Ventures Holdings Limited from Hong Kong signed an MoU on strategic cooperation for technology investment to develop smart chicken farms and agriculture in Nusantara, Indonesia’s new capital region.

Zoe Zhao, Founder and CEO of Rainmaker Ventures, said: “We as a venture capital firm from Hong Kong with exposure in Mainland China and Southeast Asia are keen to showcase our sustainable technologies portfolios and connect with other potential business partners, project owners and government connections as a process of venture-building. We expect to strengthen ties with our existing connections around the world with this global event in Hong Kong and explore new opportunities for emerging businesses and investments in Southeast Asia, demonstrating the impact brought by Brand Hong Kong sustainable technologies.”

Over 280 investment projects matched

The Summit’s offering of investment and business matching services received an overwhelming response with over 280 investment projects matched and more than 800 project matching meetings taking place, positioning Hong Kong as a key deal-maker in the region. These sessions focused on four main areas: (1) energy, natural resources and public utilities; (2) innovation and technology; (3) urban development; and (4) transport and logistics infrastructure. Following the physical Summit, business matching meetings will be conducted online on 16 and 17 September.

The Summit once again featured an exhibition area showcasing more than 110 exhibitors, including a dedicated zone jointly organised by the Ministry of Commerce of the People's Republic of China and the HKTDC. This dedicated zone for mainland trade and services was set up with more than 50 trade and service enterprises from Beijing, Tianjin, Shanxi, Shanghai, Shandong, Hubei, Guangdong and Shaanxi, which highlighted innovative achievements in areas, such as greentech, culture and creativity, cross-border e-commerce, cloud services and big data.

Heavyweight speakers delivered keynote address

Yesterday’s Keynote Luncheon featured a welcome address by Paul Chan, Financial Secretary of the HKSAR Government, opening remarks by Chen Liang, Chairman of the Board of Directors and Chairman of the Management Committee of China International Capital Corporation Limited, and a keynote speech by Dilma Rousseff, President of New Development Bank.

Dilma Rousseff said: “For developing countries, industrialisation is crucial and, to achieve it, they must undergo a process of catching up. In this context, innovation is the key to drive high productivity, which in turn creates better jobs and lays the foundation for inclusive and sustainable growth.  Without international cooperation, closing this gap is extremely difficult. The Belt and Road Initiative stands out as a most relevant long-term financing and investment platform for green development, for sharing technologies, building capacities, digitalisation and connectivity.”

Opportunities in the Middle East and emerging markets

A highlight of this year’s Summit was the Business Plenary today, themed Tapping the Markets of New Opportunities. The session was moderated by Ronnie C. Chan, Honorary Chair of Hang Lung Properties Limited. H.E. Mohamed Abduljabbar Alkoheji, Second Vice Chairman of the Bahrain Chamber of Commerce & Industry; Bonnie Y Chan, CEO of Hong Kong Exchanges and Clearing Limited; Peter Fekete, Group CEO of 4iG; Eric Ip, Group Managing Director of Hutchison Port Holdings Limited; and Dato Paduka Iqbal Khan, CEO of Fajr Capital, discussed emerging opportunities in the Middle East and other markets along the Belt and Road.

Summit aligns with eight major steps

Following President Xi Jinping’s eight major steps announced last year in support of high-quality Belt and Road cooperation, the Summit launched two thematic breakout sessions, titled Multi-dimensional Connectivity under the Belt and Road Initiative and People-to-People Exchanges through Business and Cultural Collaboration.

The first session featured discussions among scholars and experts from the shipping, port, airport, logistics and trade sectors, focusing on the progress and potential for connectivity within transport networks. The second session explored how economic collaboration and cultural exchanges can enhance mutual understanding and foster friendly relations among countries and regions along the Belt and Road.

As part of Belt and Road Week, the Belt and Road Global Forum Annual Roundtable will take place tomorrow, during which Forum members exchange views on the latest BRI developments and seize collaboration opportunities.

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About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.