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

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.

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).

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

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

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

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

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

Smart Traffic Fund approves five projects

The Transport Department (TD) today (September 11) announced that five projects under the 26th batch of the Smart Traffic Fund have been approved by the Management Committee, with a total grant of around $36.2 million.

The five approved projects in the latest batch cover:

1. Developing a traffic proposal analysis tool that integrates traffic forecasting models and microscopic traffic simulation technologies and leverages artificial intelligence (AI)to assess the traffic impacts of new development/infrastructure works projects and traffic improvement schemes;
2. Developing a dispatching system for buses in Hong Kong to regulate bus arrival times and headways in real time, thereby enhancing bus service stability;
3. Developing modelling technologies by deploying large vision-language models and AI for establishing lane-level road network digital maps;
4. Developing an integrated platform for the transportation of large construction materials, providing lorry drivers with real-time safe driving route recommendations, cargo sliding alerts and fleet management functions using AI; and
5. Developing a road works alert platform that integrates and analyses the positioning of construction vehicles and road works data using AI to enhance driving safety.

Details of the projects are available on the Fund's website (stf.hkpc.org).

The Fund accepts applications throughout the year to provide funding support to local organisations and enterprises for conducting research and applying innovation and technology, with the objectives of enhancing commuting convenience, enhancing the efficiency of the road network or road space, and improving driving safety. All applications are considered and assessed in batches by the Management Committee, which is chaired by the Deputy Commissioner for Transport/Planning and Technical Services, and comprises representatives from the Government, experts in the industry and relevant stakeholders.

The TD appeals to interested organisations and enterprises for participation to help make the Fund a success and to build Hong Kong into a more liveable and sustainable city by driving Hong Kong toward a new era of transportation.

Application details are available on the Fund's website. For enquiries, please contact the Hong Kong Productivity Council, the Secretariat of the Fund, on 2788 5536 or stf_sec@hkpc.org.

Source: AI-found images