Speeches

Dinner Gathering in Penang, Malaysia

Following is the speech by the Director-General of the Hong Kong Economic and Trade Office, Mr Law Kin-wai at the Dinner Gathering in Penang, Malaysia today (February 20):

Consul General Lu (魯世巍總領事), Mr Wong (President of SME Association of Seberang Prai), Mr Teng (CEO of Malaysia China Business Council), distinguished guests, ladies and gentlemen,

I am glad to see you all here today as we usher in the Year of the Rat. Wish every one of you and your beloved ones’ good health and great success.

It has been challenging and somewhat difficult for Hong Kong for the second half of 2019 with the social dissonance and unrest. Notwithstanding, the fundamentals underpinning our economy and success as international business and financial centre remain strong. Our financial system functions smoothly, bolstered by a stable and freely convertible currency and ample liquidity in the banking and capital markets. Civil liberties including the freedom of press and freedom of expression remain intact, and our independent judiciary continues to rigorously uphold the rule of law.

Most recently, the outbreak of the novel coronavirus is presenting much challenge to many places and economies across the world. Hong Kong is no exception. To tackle this, the Hong Kong Government has taken a comprehensive and co-ordinated approach to contain the spread of the novel coronavirus and to protect the health of the community. Our emphases are responding promptly, staying alert to the situation and working in an open and transparent manner.

We have significantly reduced the flow of people in and out of Hong Kong as well as minimized social contacts among members of the public. There are stepped-up, stringent preventive and screening measures in place, particularly at the Hong Kong International Airport which remains in full operation. All departing and transit passengers are now required to undergo body temperature check before boarding.

While all these recent twists and turns are in a sense daunting, Hong Kong is resilient and we remain confident that we will ride out the storm. Like what we did in the adversities that Hong Kong went through in the not too distant past. And of course, we could not have gone this far without the support and goodwill of our friends here in Malaysia and in ASEAN.

ASEAN is an area of opportunities and high growth potential. Within the region, Malaysia is definitely one of the key engines. There is high complementarity in trading relationship and economic cooperation between the two places, at both the holistic and the city levels. Opportunities are indeed abound for both Hong Kong and Penang. With the Belt and Road Initiative and the Greater Bay Area Development, there are huge potentials for enterprises and professionals to expand our footprints and roles in the relevant areas. The ASEAN and Hong Kong Free Trade Agreement and Investment Agreement came into force in June 2019 and will provide impetus to our further economic development and cooperation.

In addition, with the advantage of “one country, two systems”, an excellent environment for doing business, and quality professional services, Hong Kong is actively facilitating and participating in these initiatives to further strengthen our relationship with Malaysia.

Once again, I thank you all for your support in the past and look forward to working together to further strengthen the ties between Hong Kong and Malaysia, as well as ASEAN.

Please enjoy the evening. Thank you!

Ends/Thursday, February 20, 2020