Business leaders have high hopes for Asean trip

Business leaders who will be part of an SAR delegation travelling with Chief Executive John Lee to Laos, Cambodia and Vietnam this month say they hope Hong Kong can strengthen ties with the Asean countries. Agnes Chan, who chairs the Hong Kong General Chamber of Commerce, said professional services the SAR offers are in demand in many Asean countries. “Vietnam lacks skilled labour and Hong Kong companies can help them with skill training. As for Laos, I think its infrastructure is lagging behind and needs Hong Kong's expertise in infrastructure development,” she said. Chan added that she hopes to secure tax incentives for Hong Kong businesses in Laos. “We have already established a bilateral tax agreement with Vietnam and Cambodia, but we haven’t secured that with Laos. I am eager to see if there will be further progress,” she said. Steve Chuang, the chairman of the Federation of Hong Kong Industries, said a survey found that 45 percent of its 120 members operate in Asean countries, with the majority in Vietnam, a small number in Cambodia and just one in Laos. He said it is a good time to visit Laos, Cambodia, and Vietnam, given the many business opportunities offered in these countries. “There have been more factories setting up in Cambodia in recent years. The country also has a young population with strong purchasing power,” he said. “I also hope to take this opportunity to understand more about Laos. It is a relatively new market and there’s a new railway connecting its capital Vientiane and Kunming. This is the first major cross-border railway connecting China and an Asean country, which has brought Laos loads of people, logistics and capital.” Chuang added that large companies in Vietnam can make use of Hong Kong’s role as an international finance centre to raise money.