Paul Chan Engages with Oman’s Economy Minister at World Economic Forum in Davos to Discuss Cooperation and Investment

2026-01-20 09:00 Last Updated At：01-21 18:06

FS begins visit to Davos, Switzerland (with photos/video)

The Financial Secretary, Mr Paul Chan, arrived in Davos, Switzerland yesterday (January 19, Davos time) and immediately commenced his programme at the World Economic Forum (WEF) Annual Meeting.

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FS begins visit to Davos, Switzerland (with photos/video) Source: HKSAR Government Press Releases

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FS begins visit to Davos, Switzerland (with photos/video) Source: HKSAR Government Press Releases

In the afternoon, Mr Chan met with the Minister of Economy of the Sultanate of Oman (Oman), H.E. Dr Said Mohammed Al-Saqri. During the meeting, the two sides discussed ways to deepen mutually beneficial cooperation in areas such as finance, trade, green transformation and industrial development.

Mr Chan noted that Oman is transitioning from an oil-driven growth model towards a more diversified economic structure, with active efforts to promote green transformation and renewable energy, while further strengthening its economic and investment ties with China. As a “super connector”, Hong Kong is well positioned to support this process — on the one hand, by facilitating Mainland and Hong Kong enterprises to invest in Oman to support its infrastructure and industrial development; and on the other hand, by leveraging its status as an international financial centre in Asia to provide Omani enterprises with an ideal platform for fundraising and financing, as well as offshore Renminbi investment and risk management products. Mr Chan also pointed out that financial market connectivity between the two places could foster mutual development, and expressed support for the stock exchanges and regulatory authorities of both sides to explore reciprocal cooperation, including opportunities for dual or secondary listings.

In the evening, Mr Chan attended the welcome reception of the WEF Annual Meeting, where he engaged with participants from around the world. He will continue his visit in Davos today (January 20, Davos time).

Secretary Sun Confident in Smooth Launch of $2 Flat Rate Transport Discount for Elderly

Remarks by SLW at media session (with photos/video)

The Secretary for Labour and Welfare, Mr Chris Sun, met the media today (April 3), after observing the implementation of the "$2 flat rate or 80 per cent discount" on the first day at Tiu Keng Leng Station Public Transport Interchange. Following are Mr Sun's remarks at the media session:

Reporter: How do you evaluate the first-day roll-out of the scheme, and how do you address the fact that some elderly are not comprehensively understanding the whole implementation?

Secretary for Labour and Welfare: Today, 3rd of April, is the date when the "$2 flat rate or 80 per cent discount" is officially launched. For minibuses and for buses, the launch time was midnight today. For the MTR, it started from its first train which departed the terminal at 5.30am this morning.

So far, based on our territory-wide promotion, and also my own personal contact with the elderly through my visit to Wong Tai Sin including a public market and a restaurant, most of them are familiar with the operation of the "$2 flat rate or 80 per cent discount". They know the operation is very straightforward, for any fare that is at $10 or below, they still just need to pay $2. For fare that is over $10, the elderly just bare 20 per cent of the cost, and the rest of the fare will be borne by the Government. I gave them an example, for a bus fare that charges an adult for $15, the elderly people with JoyYou card would only have to pay $3, i.e. 20 per cent of the fare.

So, apart from today, we are also going to step up our promotion through television, radio and posters which have been posted all around Hong Kong. Also, as you can see, in 75 spots in Hong Kong, we are stationing the ambassadors for a total of three weeks. They are in the spots to help answer questions about the "$2 flat rate or 80 per cent discount". Apart from that, we have had the support of district councillors, Care Team members, and also staff of our welfare NGOs (non-governmental organisations). They are using their own ways to explain the operation of the "$2 flat rate or 80 per cent discount". We are pretty confident that the scheme is now being launched smoothly, and for those who will be using the new arrangement, they know about the operation.

Thank you very much.

(Please also refer to the Chinese portion of the remarks.)

Paul Chan Engages with Oman’s Economy Minister at World Economic Forum in Davos to Discuss Cooperation and Investment

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