HKTDC chief urges SMEs to seize the day

Vincent Lo Hong-sui, chairman of the Hong Kong Trade Development Council (HKTDC), urged small and medium-sized enterprises (SMEs) in Hong Kong to seize the new business opportunities the “Belt and Road” initiative is likely to open up.
With 65 economies located along the “Belt and Road”, there will be opportunities for big as well as SMEs, given investments will be on different scales, allowing small companies, particularly in developing economies, to opt for smaller projects, Lo told China Daily.
“Right now, Hong Kong is more service-oriented, so we should think about how we can facilitate investments from the Chinese mainland going into countries related to the ‘Belt and Road’, so that we can provide a supporting role, with our professional services, lawyers, accountants and investment banks,” he said.
Lo felt Hong Kong would do well to focus on fundraising and organizing related activities, given the city’s status as Asia’s financial center.
Meanwhile, Hong Kong investors can also team up with those from the mainland to go into the “Belt and Road”, said Lo.
He added that most of the outbound investment will be focused on infrastructure projects to start with, triggering a demand for substantial funding and expertise in the field.
While most manufacturing industries in Hong Kong had shifted their operations to the Pearl River Delta in the 1980s, a lot of them are considering relocating again because of the sharp increase in overheads. Lo suggested relocating to “Belt and Road” countries as these might be able to offer labor and infrastructure at competitive prices.
He said that the HKTDC, a semi-government-sponsored organization, is expected to play a very strong role here, especially in terms of identifying opportunities and promoting these across the world.
The HKTDC has organized trade shows, exhibitions, conferences as well as business matching arrangement, and will continue to do the same to promote the “Belt and Road” initiative, Lo said, adding that he has invited SMEs to participate in such expositions so as to identify the opportunities.
“We will soon launch an information portal online containing all information related to the ‘Belt and Road’ initiative, the policies, the investment opportunities in the economies related to ‘Belt and Road’, and it will be a good way to help SMEs understand the initiatives,” he added.

Source: http://www.chinadailyasia.com/2015-10/30/content_15337045.html