Hong Kong and Indonesia Forge Stronger Business Ties Through High-Level Visit
In a bid to strengthen economic collaboration and bilateral cooperation, Mr. Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR), led a high-profile delegation to Indonesia from January 8 to 10. The visit aimed to foster business partnerships and explore new opportunities in the financial, innovation, and technology sectors.
“For business promotion, this time I came with a 120-strong delegation, mostly representing the financial services, innovation and technology, and business sectors,” Mr. Chan shared in an exclusive interview with The Jakarta Post. “We took this opportunity to do business matching, so that they can find partners to work together.”
The visit culminated in the “Think business, Think Hong Kong” symposium, organized by the Hong Kong Trade Development council (HKTDC). The event, held on January 8, attracted over a thousand leaders from Indonesia and nearby regions, spanning finance, commerce, industry, and innovation. Mr. Chan highlighted Hong Kong’s unique advantages as a gateway to China and North Asia, emphasizing its role in facilitating access to the guangdong-Hong Kong-Macao Greater Bay Area (GBA) and broader Mainland China markets.
“Indonesia and Hong Kong have established a long-standing and mutually rewarding relationship. People-to-people bonds are strong,and I hope this time we can reinforce this relationship and open a new chapter in business,especially encouraging two-way investments and other collaborations,” he added.
The visit underscored Hong Kong’s strategic position as a bridge for Indonesian businesses seeking to expand into North Asia. Conversely, Hong Kong companies were encouraged to explore the burgeoning Indonesian market, known for its dynamic economy and growing middle class.
Key Highlights of the Visit
| Aspect | Details |
|————————–|—————————————————————————–|
| Delegation Size | 120 members, primarily from financial services, innovation, and technology |
| Event | “Think Business, Think Hong Kong” symposium |
| Focus areas | Financial services, innovation, technology, and bilateral investments |
| Strategic Goal | Strengthening ties between Hong Kong and indonesia |
This visit marks a meaningful step in deepening economic ties between Hong Kong and Indonesia. By fostering two-way investments and collaborations, both regions stand to benefit from shared expertise and market access.
for businesses looking to explore opportunities in the Greater Bay Area or Indonesia, Hong Kong’s robust financial ecosystem and strategic location make it an ideal partner.
stay updated on the latest developments in international business collaborations by subscribing to our newsletter.
This article is based on exclusive insights from The Jakarta Post. For more details, visit the original interview here.Hong Kong: The Gateway to East-West Business Opportunities
Every Monday, Prospects delivers exclusive interviews and in-depth coverage of Indonesia’s most pressing business issues, keeping readers ahead of the curve in the region’s rapidly evolving landscape. This week, we turn our attention to Hong Kong, a city that continues to play a pivotal role in bridging East and West, offering unparalleled opportunities for businesses looking to expand thier reach.
Under the “one country, two systems” principle, Hong Kong operates as a Special Administrative Region of china, uniquely positioned to provide businesses with seamless access to both Mainland and overseas markets. This strategic advantage has made Hong Kong a hub for international trade and investment, fostering strong connectivity between East and West.
The Greater Bay Area: A Catalyst for Growth
Hong Kong’s potential is further amplified by its integration into the Greater Bay Area (GBA), a dynamic region comprising China’s two Special Administrative Regions—hong Kong and Macao—and nine cities in Guangdong Province. The GBA is a powerhouse of economic activity, with a combined population of approximately 87 million and an aggregate GDP of $2 trillion, rivaling the economy of Italy, the world’s ninth-largest economy.
“Hong Kong is a city with a population of 7.5 million. But in the GBA, the total population is about 87 million. The aggregate GDP is about US$2 trillion, roughly equivalent to that of Italy, the ninth-largest economy in the world,” stated Hong Kong Financial Secretary Paul Chan during his recent visit to Jakarta.
Building Partnerships in Indonesia
Mr. Chan’s visit to Jakarta underscores Hong Kong’s commitment to fostering business collaboration and bilateral cooperation with Indonesia. As part of his mission, he highlighted the city’s role as a gateway for Indonesian businesses seeking to tap into the vast opportunities offered by the GBA and beyond.
!Why Hong Kong Matters for Businesses
Hong Kong’s unique position as a global financial center, coupled with its integration into the GBA, makes it an ideal base for businesses looking to expand their operations. The city offers a business-friendly surroundings, world-class infrastructure, and a legal system that upholds the rule of law, ensuring a stable and predictable environment for investors. For Indonesian businesses, Hong Kong serves as a springboard to access not only the Chinese market but also the broader Asia-Pacific region.Its strategic location, combined with its robust financial services sector, makes it a natural choice for companies seeking to grow their international presence. To summarize the opportunities Hong Kong offers, here’s a swift overview: | Aspect | Details | For more insights into how Hong Kong and the GBA can benefit your business, subscribe to Prospects, your go-to source for exclusive interviews and in-depth coverage of the region’s most pressing business issues. Sign up now to stay ahead of the curve. Hong Kong’s role as a bridge between East and West continues to grow, offering businesses a unique opportunity to thrive in one of the world’s most dynamic regions. Whether you’re looking to expand into Mainland China or explore new markets in the Asia-Pacific, Hong Kong is the gateway to success. Hong kong’s position as a global financial hub is opening doors for Indonesian companies,entrepreneurs,and investors. With its vibrant tech sector and young, dynamic population, indonesia is poised to benefit from Hong Kong’s expertise in finance, infrastructure, and innovation. This partnership is further strengthened by Hong Kong’s role as Asia’s top international financial center, ranking alongside New York and london. Hong Kong’s stock market is a prime destination for Indonesian companies seeking to raise funds. According to Hong Kong Financial secretary Paul Chan, “The mutual market access arrangements between the Mainland and Hong Kong allow Indonesian and other international companies listed on the Hong Kong Stock Exchange to access both Mainland and international capital.” Currently, five Indonesia-based companies across industries like logistics, catering, real estate, and manufacturing are listed in Hong Kong. Indonesia’s ambitious infrastructure plan, spearheaded by President Prabowo’s administration, presents a significant opportunity for collaboration. During his visit, Mr.chan met with senior Indonesian officials, including Finance Minister Sri Mulyani Indrawati and Coordinating Economic Minister Airlangga Hartarto. He emphasized hong Kong’s potential as a fundraising center for Indonesia’s massive infrastructure projects. “You can use Hong Kong as a fundraising center. Say, for example, listing some of your infrastructure projects on our Stock Exchange, or securitizing infrastructure loans for more mature, brownfield projects, and freeing up capital to support greenfield projects,” Mr. Chan explained. He also highlighted Hong Kong’s expertise in planning, building, and operating large-scale infrastructure projects, expressing eagerness to collaborate with Indonesian partners. Beyond finance and infrastructure, Mr. Chan emphasized the importance of strengthening bilateral ties through youth exchanges and innovation. Hong Kong is offering more scholarships for students from Indonesia and ASEAN countries to study in the city.“It would be ideal for them to work in Hong Kong for a few years after graduation so that they will be the key link to ensuring a growing and stronger bilateral relationship in the future,” he added.hong Kong’s commitment to innovation is evident in its significant investments in the sector. Over the past few years, the hong Kong Special administrative Region (HKSAR) government has invested more than US$25 billion in developing innovation and technology. Initiatives like the Top Talent Pass scheme, launched in December 2022, have attracted over 430,000 applications, with more than 275,000 approved and 180,000 people arriving in the city by December 2024. “We are supporting the startups, innovators, and entrepreneurs so as to jumpstart our innovation and technology ecosystem. we believe young people from Indonesia will be interested in joining us,” Mr. Chan said. With nearly 4,700 startups, Hong kong offers a thriving environment for innovation. Mr. chan also highlighted the immense career opportunities available in the guangdong–Hong Kong–Macao Greater Bay area (GBA), a region known for its economic dynamism and innovation. The GBA’s integration with Hong Kong’s financial and technological expertise creates a fertile ground for collaboration and growth. !Key Takeaways
| Aspect | Details | For Indonesian companies and entrepreneurs, Hong Kong offers a gateway to global capital and cutting-edge innovation. Explore the opportunities in the greater Bay Area and consider leveraging Hong Kong’s expertise to drive your business forward. As Mr.Chan aptly put it, “We are glad to be working with our Indonesian partners.” This partnership is not just about financial growth but also about fostering innovation, building infrastructure, and empowering the next generation of leaders. — In a bid to appeal to the younger generation, Hong Kong is also investing heavily in its creative industries. The West Kowloon Cultural District stands as a testament to this commitment. “It is home to two world-class museums that stand side by side: the Hong Kong Palace Museum and M+,which is Asia’s first global museum of contemporary visual culture,” said Mr. Chan. The city’s rich history is also being revitalized through innovative projects. Take Tai Kwun,such as. Once a compound comprising a police station, custody facilities, and a prison, it has been transformed into a popular tourist attraction and a vibrant space for creative industries. Hong Kong’s vision extends beyond its borders. “From financial services to innovation, creative industries, and cultural exchange, we are eager to collaborate with our Indonesian partners to realize mutually beneficial opportunities. Our partnership with Indonesia and ASEAN at large will help us thrive together,” Mr. Chan concluded. | Aspect | Details | Hong Kong’s blend of innovation, culture, and history makes it a unique destination for entrepreneurs, creatives, and tourists alike. Explore the city’s dynamic landscape and discover how it’s shaping the future. stay Connected with Prospects For more insights and updates on how Hong Hong and the Greater Bay Area (GBA) can benefit your business, subscribe to Prospects. Gain access to exclusive interviews, in-depth analysis, and expert perspectives on the region’s most pressing business opportunities. Sign up now to stay ahead of the curve and unlock the potential of this dynamic partnership. Hong Kong and Indonesia are poised to lead the way in innovation, infrastructure, and economic collaboration. Don’t miss out on this transformative journey!Key Takeaways
|————————–|—————————————————————————–|
| Population | 7.5 million (Hong Kong); 87 million (GBA) |
| GDP | $2 trillion (GBA), comparable to Italy’s economy |
| Strategic Position | Gateway to Mainland China and overseas markets |
| Business Environment | World-class infrastructure, rule of law, and financial services |Stay Informed with Prospects
Hong Kong and Indonesia: A Partnership Fueled by Innovation and Infrastructure
A Gateway to Capital and Infrastructure development
Fostering Youth and Innovation
The Greater Bay Area: A Hub of Opportunities
|————————–|—————————————————————————–|
| Financial Hub | Hong Kong is asia’s top international financial center, alongside New York and London. |
| Indonesian Listings | Five Indonesia-based companies are listed on the Hong Kong Stock exchange. |
| Infrastructure | Hong Kong offers expertise and fundraising opportunities for indonesia’s infrastructure projects. |
| Youth and Innovation | Scholarships and talent schemes aim to strengthen bilateral ties through youth exchanges. |
| Investment in Tech | Over US$25 billion invested in innovation and technology by the HKSAR Government. |A Call to Action
For more information on Hong Kong’s financial and innovation ecosystem, visit the Hong Kong Stock exchange and the HKSAR Government’s innovation initiatives.Hong Kong’s vibrant startup ecosystem and cultural renaissance are positioning the city as a global hub for innovation and creativity. With around 20% of startup founders hailing from overseas, the city’s entrepreneurial spirit is thriving. Many of these startups are housed in Science Park and Cyberport,which serve as flagship hubs for the technology sector. Key Highlights of Hong kong’s Innovation and Cultural Landscape
|—————————|—————————————————————————–|
| Startup Ecosystem | 20% of founders from overseas; hubs include Science Park and Cyberport. |
| Cultural Investments | Development of West Kowloon Cultural District and world-class museums. |
| Past Revitalization | Tai Kwun transformed into a creative and tourist hub. |
| Global Collaboration | Partnerships with Indonesia and ASEAN for mutual growth. |
Th Indonesia to create a stronger economic partnership that benefits both regions.The future is bright, and together, we can achieve remarkable growth and innovation.”
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