Chief Executive John Lee will lead a delegation on a visit to Kuwait and Qatar. Hong Kong General Chamber of Commerce Chairman Agnes Chan, who will join the delegation, noted that both are high income Middle Eastern countries with a young population, indicating strong spending power.

“For the past decade, they have focused on the traditional oil and gas industry. Now, they are diversifying into technology and wealth management, areas in which they seek improvement. This is why a government-led visit to these countries is significant.

“As an international financial centre, Hong Kong aims to leverage this visit to promote itself as the primary listing hub for Middle Eastern firms.”

She added that the major chambers of commerce joining the trip are hoping to play a role at the business level by facilitating networking events and providing market insights for firms to exchange views on business practices, while for their part, the enterprises must fully understand the local culture, regulatory frameworks and investment strategies of the various locations.

Ms Chan also suggested increasing direct flights between Hong Kong and major Middle Eastern cities to reduce travel time and enhance exchanges between the two regions.