Editorial | Happy ending needed as sale of Hong Kong story to wider world begins
- Financial Secretary Paul Chan will put new investment and talent recruitment drives to the test on his mission to Bahrain and Saudi Arabia
After years of turbulence, the city is keen to show the world it is back. The message is not only echoed far and wide as Chief Executive John Lee Ka-chiu defends the city’s achievements in his first policy address, but is also underpinned by a series of promotional campaigns overseas.
With international tensions running high and perceptions often misleading, the Hong Kong story will not be an easy sell.
The mission begins with a high-stakes visit by Financial Secretary Paul Chan Mo-po to the Middle East when he flies to Bahrain on Saturday. This will be followed by another stop in Saudi Arabia where he will attend an international conference, the Future Investment Initiative, run by a think tank under the country’s main sovereign wealth fund, the Public Investment Fund.
Coming just days after the policy address, the first major overseas delegation by the new administration underlines Lee’s ambition to put Hong Kong back on the map. It will also put new investment and talent recruitment drives to the test.
Chan has been tasked with launching a HK$30 billion (US$3.8 billion) Co-Investment Fund to attract enterprises to set up here by investing in their business. Saudi Arabia also aims to lure investment projects to help diversify its non-oil sectors.