InvestHK showcases Hong Kong as Asia’s gateway during Cairo visit
- Written by Media Outreach
At the conference, she engaged with leading Egyptian companies and entrepreneurs, highlighting Hong Kong's advantages as a regional hub, underpinned by its professional workforce, robust rule of law, low and simple tax system, and strategic location at the heart of Asia.
Hong Kong–Egypt Economic Ties Flourished
In 2023, InvestHK signed a Memorandum of Understanding (MoU) with the General Authority for Investment and Free Zones (GAFI) of the Arab Republic of Egypt, pledging mutual co-operation on investment promotion exchanges and support. In 2024, the department has opened a new office in Cairo, Egypt, to enhance its effort in attracting companies from the Middle East and North Africa (MENA) region to set up or expand their businesses in Hong Kong.
In 2024, Hong Kong and Egypt enjoyed a vibrant trade relationship, with bilateral merchandise trade reaching HK$2.1 billion (US$0.3 billion), a 5.4% increase from 2023. This growing economic connection underscored the potential for deeper commercial collaboration.
Hong Kong's Investment Environment
Hong Kong is considered to be one of the most liberal and easiest places to do business in the world, as reflected in many renowned international rankings. To name just a few, the Business Ready 2024 Report published by the World Bank Group has ranked Hong Kong the first in "International Trade"; Hong Kong also ranked as the world's freest economy in the "Economic Freedom of the World: 2024 Annual Report" by the Fraser Institute and the 5th most competitive economy in the "World Competitiveness Yearbook 2024" by the International Institute for Management Development; and according to the "World Investment Report 2024" released by the United Nations Trade and Development in June 2024, Hong Kong was the 4th largest recipient of FDI inflow in 2023 globally.
Ms Lau said, "Egypt's strategic location as a gateway to Africa and the Middle East, combined with its dynamic and diversified economy, makes it a natural partner for Hong Kong. Hong Kong, as Asia's leading international financial hub and Asia's business Launchpad, offers Egyptian enterprises a reliable platform to access Mainland China and the broader Asia-Pacific region."
She added, "Our team in Cairo is ready to assist Egyptian companies to set up and expand their businesses in Hong Kong. We offer one-stop customised support services, from the planning to implementation stages. We look forward to working with you closely to unlock new opportunities across Asia."
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