John Lee to promote Hong Kong in trip to 3 Asean countries, pledges ‘big efforts’ on economy

“We will introduce the latest developments in Hong Kong to the political and business circles of Laos, Cambodia and Vietnam, especially Hong Kong’s advantages and the opportunities, economic and trade ties and extensive business opportunities it can bring to Asean,” he said ahead of his meeting with the Executive Council, the government’s key decision-making body.

“[We will] explore business opportunities, establish broader contacts and networks, and forge and develop new fields and opportunities.”

The city leader’s six-day trip will take place from late July to early August and will cover Vientiane and Phnom Penh, the capitals of Laos and Cambodia respectively, as well as Hanoi and Ho Chi Minh City of Vietnam.

Laos, Lee’s first stop on the itinerary, is the current Asean chair.

The summer trip will be the city leader’s first overseas trip in a year. Lee’s last official overseas trip was his week-long one to Singapore, Indonesia and Malaysia in July 2023.

Lee said Hong Kong attached great importance to its cooperation with Asean, as the bloc was the city’s second largest trading partner and is an emerging market with huge economic potential.

But the three countries on his itinerary differ widely in their economic significance to the city.

With a trade volume of US$31.5 billion with Hong Kong in 2023, Vietnam was the city’s seventh largest trading partner in that year, accounting for 2.8 per cent of total trade. It was also Hong Kong’s second biggest trading partner among all Asean countries.

By contrast, the city only had a trade value of about US$17 million with Laos throughout last year, the lowest figure among the 10 member countries.

Meanwhile, Lee on Tuesday also announced the official start of consultations for his next Policy Address, expected to be delivered in October, as in previous years.

He said that in addition to more than 40 in-person and online consultation meetings, two community meetings would be held with higher numbers of attendees than last year to ensure there would be broader representation of residents.

“In terms of economic development, I have already learned about a lot of views from different people, especially political parties, and I agree they are going in the right direction. We will make big efforts to develop the economy in this year’s Policy Address,” Lee said.