A promotional seminar was held in Macao yesterday, aimed at encouraging Macao businesses to make investments in Hong Kong.
Jointly organised by the Hong Kong government agency, Invest Hong Kong (InvestHK), and Macao’s Commerce and Investment Promotion Institute, the seminar saw participation from around 90 Macao-based companies and organisations from a range of industries, including retail, food and beverage, export trading and manufacturing.
During their presentation, the Hong Kong authorities discussed some of the city’s business models that can cut costs and risk for investors looking to enter the Hong Kong market.
According to local media, one such practice includes the shop-in-shop business model, which involves setting up a smaller counter or concession inside a bigger store, allowing business owners to test the market for their products.
A similar business strategy known as “shared-use kitchen” is also being adopted in Hong Kong, allowing different food and beverage vendors to make use of a licensed communal kitchen that is fitted with all the necessary facilities and equipment.
[See more: Macao and Hong Kong have linked their bond markets]
InvestHK officials also spoke about the advantages that Macao businesses can reap from setting up business in Hong Kong, with Arnold Lau, InvestHK’s director-general of investment promotion, describing his city as “an ideal platform for Macao enterprises to connect to the world and expand globally.”
Lau pointed out that Macao companies could increase their exposure by appealing to the mainland and overseas tourists that visit Hong Kong. He also highlighted the fact that Hong Kong was able to lure international buyers through its staging of large numbers of trade shows.
Meanwhile, the head of Macao’s Commerce and Investment Promotion Institute, Vincent U, spoke about the two SARs’ business and trade relationship over the years.
Trade between Macao and Hong Kong hit HK$89.1 billion in 2023. The two cities have also signed a number of agreements to facilitate ties, including the Hong Kong-Macao Closer Economic Partnership Arrangement (CEPA) in 2017.
Yesterday’s investment promotion session followed a meeting in Hong Kong between Macao chief executive, Sam Hou Fai, and Hong Kong leader, John Lee, in February. The two leaders discussed ways to deepen the two SARs’ cooperation in trade, finance, tourism and technology.
