Hungary and Poland have all along been important partners of Hong Kong and Mainland China, and we see great potential to further unlock business potential with these regions through deepened cooperation. With the lifting of quarantine requirement, Hong Kong has once again opened its door to international visitors and is keen to revive international business exchange with countries in Central and Eastern Europe. With these good news in her bag, Ms Jenny Szeto, Director of the HKETO Berlin started her introduction of business prospects in Hong Kong under the Belt and Road Initiative (BRI) and within the Greater Bay Area (GBA).

More than 30 participants each from the Hungarian and Polish business community joined the two business luncheons held on 25 October in Budapest and on 17 November in Warsaw respectively. Business leaders and entrepreneurs not only received updates on the initiatives in Hong Kong and the GBA, but also gained insights into the direction and priorities of Hong Kong’s economic development and prospects for this Government’s term as announced in the Chief Executive’s 2022 Policy Address.

Being one of the most vibrant city clusters in the world, the GBA boasts a population of more than 87 million people and a GDP of EUR 1.97 trillion (which is more than twice the GDP of Hungary and Poland combined). Levering its strategic advantages as the most international and open city in the GBA, Hong Kong offers the best entry point to this vast market in Mainland China across all business sectors.

On the other hand, the BRI is the largest platform for international cooperation connecting the world’s largest market, China, with Europe. Within the BRI, Hong Kong serves as the prime platform for companies from the Belt and Road region that seek to establish business relations with Mainland China. Project financing, professional services and trade settling in Renminbi are only some of the examples of the services that Hong Kong offers to businesses along the Belt and Road trade corridor.

Hong Kong’s distinctive advantages such as the common law system, its independent judiciary, the free flow of capital and information as well as its business friendly environment and international talent pool made it an attractive business location for foreign companies, which added up to more than 9 000 in 2021 and set a new record for Hong Kong. With the new initiatives under the 2022 Policy Address announced in October, including the setting up of the Office for Attracting Strategic Enterprises and the introduction of the Top Talent Pass Scheme, we are confident that Hong Kong will further enhance its competiveness and continue to scale new heights. More details about the Chief Executive’s 2022 Policy Address can be viewed here.