Hong Kong, opening doors to business success with Cambodia

HONG KONG SAR - Media OutReach Newswire - 1 August 2024 - Hong Kong is on a mission to deepen bilateral relations with Cambodia and the wider Association of Southeast Asian Nations (ASEAN) region.

John Lee, Chief Executive of the Hong Kong Special Administrative Region, led a high-level business delegation to Cambodia (July 30-31, 2024) to explore new opportunities for closer co-operation.

During the visit, Mr Lee met top officials including Cambodia's Prime Minister Hun Manet and Deputy Prime Minister and Minister of Interior Sar Sokha to discuss issues of common interest.

Hong Kong’s Chief Executive, Mr John Lee (left), meets with the Prime Minister of Cambodia, Mr Hun Manet (right), in Cambodia.
Hong Kong’s Chief Executive, Mr John Lee (left), meets with the Prime Minister of Cambodia, Mr Hun Manet (right), in Cambodia.

"We are here to explore the immense opportunities for trade and investment co-operation between Hong Kong and Cambodia, for mutual prosperity and economic development as well as business promotion," Mr Lee said, noting that Cambodia is a rapidly developing market with a remarkable economic potential.

Mr Lee (left) meets with the Deputy Prime Minister and Minister of Interior of Cambodia, Mr Sar Sokha (right), in Cambodia.
Mr Lee (left) meets with the Deputy Prime Minister and Minister of Interior of Cambodia, Mr Sar Sokha (right), in Cambodia.

During the visit, a total of 13 memoranda of understanding were exchanged between various organisations and enterprises from Hong Kong and Cambodia covering areas such as economic co-operation, trade, investment promotion, aviation, information and technology, and financial services.

Mr Lee (second left) and Mr Hun (second right) witness the exchange of a memorandum of understanding between Invest Hong Kong and the Council for the Development of Cambodia.
Mr Lee (second left) and Mr Hun (second right) witness the exchange of a memorandum of understanding between Invest Hong Kong and the Council for the Development of Cambodia.

"We certainly make it easy to do business together," Mr Lee said, during a business luncheon in Phnom Penh. "Under the unique 'one country, two systems' principle, Hong Kong enjoys both the China advantage and the global advantage. We enjoy free flow of information, capital, goods and people, sophisticated infrastructure, and boundless opportunities, thanks to the unfailing support of our country and strong international connectivity."

Mr Lee speaks at a business luncheon in Cambodia co-organised by the Hong Kong Economic and Trade Office in Bangkok and the Hong Kong Trade Development Council.
Mr Lee speaks at a business luncheon in Cambodia co-organised by the Hong Kong Economic and Trade Office in Bangkok and the Hong Kong Trade Development Council.

Hong Kong is also the prime connection point for overseas enterprises to tap into vast growth markets in the Guangdong-Hong Kong-Macao Greater Bay Area and throughout China and beyond.

"Hong Kong brings to the Greater Bay Area international experience and expertise in finance and trade, as well as world-class professional services, transport, logistics and more," Mr Lee said. "I welcome Cambodian enterprises and entrepreneurs to partner with Hong Kong and, together with us, tap into the area's far-reaching business and investment opportunities."

These are some of the reasons why Cambodian finance professional Robert Lay decided to relocate to Hong Kong with his family in 2023.

"In terms of professional work for me, Hong Kong has access to Greater China," said Mr Lay, a successful applicant under the city's Top Talent Pass Scheme.

"Hong Kong has been the headquarters for a lot of the key capital market players. As long as you have the capability to bridge between all of these players, I think it's definitely the right place to be."

Mr Lay's wife is employed by an asset management company while his two children attend an international school in the city. The flexible and international education system was another factor in choosing Hong Kong over other cities. "Our children were born in New Zealand. Coming to this international city, they could learn in English, Cantonese and Mandarin," Mr Lay said.
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