Speech by SCED at Hong Kong Luncheon of "Think Business, Think Hong Kong" in Kuala Lumpur (English only)
******************************************************************************************
YB Liew (Deputy Minister of Finance of Malaysia, Mr Liew Chin Tong), H.E. Ouyang Yujing (Chinese Ambassador to Malaysia, Mr Ouyang Yujing), YB Sim (Deputy Minister of Investment, Trade and Industry, Mr Sim Tze Tzin), Frederick (Chairman of the Hong Kong Trade Development Council, Professor Frederick Ma), distinguished guests, ladies and gentlemen,
Good afternoon, and Selamat Tengah Hari.
First of all, it is a true privilege to welcome you all to today's Hong Kong Luncheon of "Think Business, Think Hong Kong". This is my second visit to Kuala Lumpur this year, and I must say that I am, as always, deeply impressed by the energy, the dynamism, and the warmth of its people. From the bustling streets to the modern skyline, Kuala Lumpur truly embodies the spirit of a global hub for trade, innovation, and cultural exchanges.
I look forward to the visits and events ahead in the coming days and am confident that through these engagements, we will explore more of the business opportunities this city has to offer, and strengthen the ties between our two economies.
In the opening session of the symposium this morning, various speakers emphasised the robust and ever-growing bilateral trade and investment partnership between Malaysia and Hong Kong. Indeed, Malaysia is one of our largest trading partners within ASEAN (Association of Southeast Asian Nations), and Hong Kong continues to serve as a significant source of foreign direct investment into Malaysia. Since the signing of the ASEAN-Hong Kong, China Free Trade Agreement and Investment Agreement in 2017, our outward investment into ASEAN has grown by 54 per cent, and the number of offices in Hong Kong with parent companies located in ASEAN has risen by 42 per cent. We also collaborate very closely with Malaysia in different multilateral trade bodies, notably the Asia-Pacific Economic Cooperation and the World Trade Organization, to pursue our common interests in trade and economic issues at the regional as well as global level.
Building on that momentum, Hong Kong continues to offer unparalleled commercial value under the "one country, two systems" principle. With our common law framework, simple tax regime, free capital flow, and direct access to the Chinese Mainland, Hong Kong serves as the "super connector" and "super value-adder" for Malaysian enterprises expanding across Asia, especially into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) which offers immense opportunities to overseas businesses.
To further strengthen our role as the gateway to the GBA, we are proactively driving the development of the Northern Metropolis, a mega development area of 30 000 hectares which will become Hong Kong's new economic engine. It houses a variety of strategic economic functions: a new innovation and technology ecosystem, high-end manufacturing and professional services, a world-class university town, and a global hub for investments, new industries and talent. To attract high-potential industries and strategic enterprises, we also proactively formulate preferential policy packages, which may cover land grant, land premium and tax incentive of as low as 5 per cent only, based on enterprises' needs.
Business is a two-way street. Today, we have gathered over 300 guests at the luncheon, bringing together Hong Kong and Malaysian government officials, influential corporate leaders, industry experts, association representatives and representatives of Hong Kong and Mainland enterprises. The purpose is clear: to listen, connect, and explore opportunities for collaboration and business growth. Let us take full advantage of today's events to make new friends, and chart new paths.
Terima kasih and thank you.
Ends/Tuesday, August 11, 2026
Issued at HKT 14:50
Issued at HKT 14:50
NNNN