The DAB visited Indonesia, Malaysia, Thailand and other ASEAN countries earlier. Members of the DAB's Legislative Council met today (26th) with the Secretary of the Commerce and Economic Development Bureau, Mr Yau Yinghua, to introduce the results of the foreign visits.
The Democratic Alliance for Betterment of Hong Kong pointed out that ASEAN is an emerging economy with the greatest development potential, and it is necessary for the Hong Kong government to develop relations with ASEAN from a higher strategic perspective.
Advocate restructuring of overseas economic and trade cooperation organization structure
The DAB put forward eight recommendations, including attaching importance to the strategic development status of the ASEAN region, and establishing a committee at a high level to absorb the opinions of stakeholders and better plan the development direction of ASEAN.
The DAB pointed out that there are currently 14 overseas economic and trade offices of the SAR government, of which 8 are located in mature economies such as Europe and North America. Currently, there are only 3 offices in Bangkok, Singapore and Jakarta in the ASEAN region, which are responsible for ten ASEAN countries. In addition, the functions of the Economic and Trade Office are similar to those of the overseas offices of the Trade Development Council and the work of INVEST HK, and the current structure may not be the best configuration.
The DAB recommends the Hong Kong government to study and reorganize the organizational structure responsible for overseas economic and trade promotion and cooperation, coordinate with the ASEAN region as the focus of development, mobilize more resources to the economic and trade cooperation in the ASEAN region, improve working methods, and study and appoint people familiar with local affairs. The business community of 2018 is a consultant to assist the government in promoting Hong Kong's advantages; at the same time, under the existing Belt and Road Commissioner's Office, it is proposed to set up an "ASEAN Service Center" to provide a one-stop service platform for investors from ASEAN countries to assist ASEAN countries to invest in Hong Kong.
The DAB also pointed out that, as an international financial center, Hong Kong is also one of the regions with the highest volume of financing and stock transactions in the Asia-Pacific region. However, the number of ASEAN companies listed in Hong Kong is only over 80, a very low proportion.
The DAB pointed out that the SAR government needs to attach great importance to the potential of financial service demand in the ASEAN market. The government and the Hong Kong Stock Exchange should take the initiative to promote the advantages of Hong Kong's financial market to enterprises in the ASEAN region, and invite enterprises to settle in Hong Kong for listing and fundraising.
In terms of talents, the DAB pointed out that the government needs to be more active in attracting talents, including discussing with various sectors to provide more and different types of scholarships to elite students in the ASEAN region, simplifying the visa approval process, and facilitating local students to study in Hong Kong and institutional personnel to accept admission in Hong Kong. training.
The DAB pointed out that many of the interviewed ASEAN chambers of commerce are planning to return to Hong Kong and are helping to facilitate it. At the same time, at the invitation of the Indonesian Chamber of Commerce, the DAB is preparing a delegation to attend the B20 G20 Business Summit in Indonesia in November. .
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