Hong Kong to press ahead with expanding Middle East ties despite regional unrest
Chief Executive John Lee vows to keep pursuing business opportunities in the region, hailing Hong Kong as an ‘irreplaceable’ investment gateway
Despite his optimism, Lee conceded that the conflict in the Middle East had affected Hong Kong due to a surge in fuel prices, urging suppliers to increase transparency in pricing and warning of regulatory action in cases of commercial wrongdoing.
Lee, whose administration has been focused on exploring Middle Eastern markets amid global geopolitical tensions, defended his approach, emphasising that opportunities still outweighed risks for Hong Kong’s business collaboration with the Gulf states.
He noted that the Middle East was a region of strong economic growth, adding that he had built good working relationships with countries there through his four previous visits, which had successfully fostered project deals and cooperation.
“After our trips, many projects had begun, with many contracts signed. This cooperation will not be affected by the [geopolitical situation] of the Middle East, especially for government-to-government cooperation,” Lee said.