CE: Uzbekistan-China (Hong Kong) Economic Forum Strengthens Mutual Ties and Investment Opportunities

Speech by CE at Uzbekistan-China (Hong Kong) Economic Forum

Following is the speech by the Chief Executive, Mr John Lee, at the Uzbekistan-China (Hong Kong) Economic Forum today (May 6):

The Chief Executive, Mr John Lee, Photo source: HKSAR Government Press Releases

Your Excellency Mr Prime Minister Abdulla Aripov (Prime Minister of the Republic of Uzbekistan, Mr Abdulla Nigmatovich Aripov), distinguished guests, ladies and gentlemen,

Good afternoon and welcome to Hong Kong.

It is an honour to have His Excellency Abdulla Aripov, the Prime Minister of Uzbekistan, with us today. His Excellency is here, in Hong Kong, leading a high-powered government and business delegation, some 200 strong, from Uzbekistan.

Mr Prime Minister, your presence here speaks volumes about the strength of the relations between Uzbekistan and China, our country.

In 1992, Uzbekistan became the first Central Asian country to establish diplomatic relations with China, our country. Two years ago, the two countries established an all-weather comprehensive strategic partnership for a new era.

Your trip this week to our country, and the eighth session of the China-Uzbekistan Intergovernmental Cooperation Committee, will surely boost our rewarding ties.

I am confident, too, that today's Uzbekistan-China (Hong Kong) Economic Forum will set our two economies, and our two peoples, together on a far-reaching and mutually rewarding partnership.

The good news is that we are already exploring co-operation, and in more than several areas, I'm pleased to say.

Last August, I met with His Excellency Deputy Prime Minister Jamshid Khodjaev here in Hong Kong, exchanging views on our trade relations and other collaboration. And my Secretary for Financial Services and the Treasury is in Uzbekistan now for the Asian Development Bank's annual Board of Governors meeting.

Last October, the Director-General of Invest Hong Kong (InvestHK), our designated investment promotion agency, visited Uzbekistan to explore opportunities in trade, logistics, financial technology, sustainable development and other sectors. InvestHK is also, let me add, engaging with enterprises from Uzbekistan to support their business expansion in Hong Kong.

To put it simply, our government and business ties are growing stronger and stronger. And for good reasons. A good many reasons. Uzbekistan is at the heart of the ancient Silk Road. It has served as a conduit for trade and cultural exchange for centuries.

Central Asia's most populous country, and the region's fast-growing economic engine, Uzbekistan has realised a GDP (Gross Domestic Product) growth rate consistently above 6 per cent in recent years. That is a compelling testament to the country's reform and development initiatives.

Indeed, the Asian Development Bank, in a report last month, said, and I quote, "Uzbekistan enters the next two years from a position of strength, supported by resilient domestic demand, high levels of investment, and ongoing structural reforms."

The country's dynamic economy serves as a gateway to Central Asia and beyond. It offers diversified investment and trading opportunities, thanks to modernised industrial zones, as well as mining and commodities trading. Its agricultural sector is thriving, and the country's rich cultural heritage draws more visitors every year.

No less important, Uzbekistan continues to reform its economy. And the country is dedicated to joining the World Trade Organization (WTO), to better integrate into the global economy.

Hong Kong, of course, is a long-standing champion of free trade, and a founding member of the WTO. We are also the world's fifth-largest entity in merchandise trade. And the WTO is a critical institution in promoting free and open global trade, especially in today's fractured world.

Under our "one country, two systems" framework, Hong Kong enjoys both the China advantage and the global advantage. We offer low taxes, a free flow of capital and information, the rule of law and a legal system based on common law - trusted by businesses all over the world.

Hong Kong believes in the power of multilateralism and win-win co-operation. We welcome the world, Uzbekistan very much included, to join us in pursuing, and creating, opportunity.

That's why we are fully engaged in our country's Belt and Road Initiative. Hong Kong, one of the world's top three global financial centres, offers a wealth of financing, as well as professional services, dispute resolution and much more - for Uzbekistan and for all countries along the Belt and Road.

For Uzbek enterprises here with us today, if you're looking to tap into the vast Chinese market, Hong Kong is your ideal partner. Hong Kong speaks the language of international business. Our financial experts can help you raise capital. Our lawyers, accountants and arbitration specialists can guide you and your business every step of the way.

Last year, the number of companies in Hong Kong with Chinese Mainland or overseas parent companies rose to more than 11 000. That's up 11 per cent over the year before - and a record high.

Our start-up companies last year also hit a record high, totalling over 5 200, also up 11 per cent, year on year.

In a global economy fraught with geopolitical uncertainties and fragmented trade and investment flows, Hong Kong is where you want to be.

Stability, certainty and trust are our natural resources, and we're happy to share them with Uzbekistan - with you.

Set up your regional offices here. List on our stock exchange. Use our world-class professional services, and reach every market, every corner, of China and the world.

You're welcome to come for our world-class education, too. Hong Kong is the only city in the world that counts five universities among the world's top 100. And we welcome Uzbek students to study here.

The HKSAR Government offers scholarships specifically for students from Belt and Road countries, including Uzbekistan, to study at our post-secondary institutions.

Ladies and gentlemen, the friendship between China, our country, and Uzbekistan runs deep. Hong Kong is proud to be a part of that friendship. And we look forward to seeing it grow and flourish.

Ladies and gentlemen, the Hong Kong officials and business leaders here for today's forum are eager to chat with you about opportunities in various sectors, industries and areas.

I know you will enjoy today's Forum, and I hope to see you back soon in Hong Kong, Asia's world city. Thank you.

Photo source: reference image

Speech by CE at Uzbekistan-China (Hong Kong) Economic Forum (with photos/video) Source: HKSAR Government Press Releases

Speech by CE at Uzbekistan-China (Hong Kong) Economic Forum (with photos/video) Source: HKSAR Government Press Releases

Speech by CE at Uzbekistan-China (Hong Kong) Economic Forum (with photos/video) Source: HKSAR Government Press Releases

Hong Kong Customs, FSD and Police mount territory-wide joint operation against illicit fuel activities

Hong Kong Customs, the Fire Services Department (FSD) and the Hong Kong Police Force mounted a territory-wide joint operation codenamed "Knockout" targeting illicit fuel activities from April 13 to 30, aiming to cut off the supply of illicit fuel and tackle illegal fuelling activities in downtown areas. Officers of Customs, the FSD and the Police detected 19 related cases, and seized more than 21 000 litres of illicit fuel, 15 vehicles and one speedboat with an estimated market value of about $3.3 million. A total of 27 persons were arrested.

During the operation, Customs strengthened enforcement against the sources of illicit fuel. Customs officers detected four cases of land smuggling of illicit fuel at the Heung Yuen Wai Control Point and the Hong Kong-Zhuhai-Macao Bridge Hong Kong Port. They seized about 1 200 litres of illicit motor spirit and four vehicles with fuel tanks suspected to be altered for smuggling, and arrested four male drivers. Customs also detected three cases of sea smuggling of illicit fuel near Ninepin Group, Castle Peak Bay and Cheung Chau, seized about 4 000 litres of illicit motor spirit and arrested five male crew members.

In addition, officers of Customs, the FSD and the Police also shut down five illicit mobile motor spirit fuelling stations in Lok Fu, Kowloon Bay, Wong Tai Sin, Kai Tak and Tsing Yi. They seized about 2 200 litres of illicit motor spirit and nine vehicles involved in supplying or receiving illicit fuel, and arrested four workers of illicit fuelling stations and five persons suspected to have patronised the fuelling stations.

Officers of the three departments also raided an illicit motor spirit fuelling station and an illicit fuel storage site in Tsuen Wan and Yuen Long respectively. About 800 litres of illicit motor spirit, 1 600 litres of illicit diesel and two private cars involved in the cases were seized. Four persons were arrested. In addition, officers of the FSD also raided a total of four illegal diesel fuelling stations in Kowloon Bay and Shau Kei Wan. About 9 400 litres of diesel along with a batch of fuelling equipment were seized. Five persons in connection with the cases were intercepted.

Investigations are ongoing. Customs will continue to collaborate with the FSD and the Police in combating illicit fuel activities. Members of the public are also urged not to patronise illicit fuelling stations. The use of illicit fuel is a criminal offence, and vehicles involved may be liable to confiscation.

According to the Dutiable Commodities Ordinance (Cap. 109), any vehicle found conveying illicit motor spirit, as well as any tools, equipment, or articles used or intended to be used in connection with the commission of related offences, shall be liable to forfeiture whether or not any person is convicted of any offence. Anyone involved in dealing with, possession of, selling or buying illicit motor spirit commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.

Under the Fire Services (Fire Hazard Abatement) Regulation (Cap. 95F), it is an offence to possess or control any controlled substance for the business purpose of transferring it into vehicle fuel tanks. The Dangerous Goods Ordinance (Cap. 295) also provides that no person shall manufacture, store, convey or use any dangerous goods unless they possess a licence or exemption granted. Upon conviction, the maximum penalty for the first offence is a fine of $100,000 and imprisonment for six months. For each subsequent offence, the maximum penalty is a $200,000 fine and imprisonment for one year.

Moreover, Customs reminds cross-boundary goods vehicle drivers not to engage in any smuggling activities. Under the Import and Export Ordinance (IEO), any person who alters the fittings, fabric or structure, or makes use of the altered fittings, fabric or structure, of any vehicle for the purpose of smuggling commits an offence. The vehicle may also be subject to forfeiture.

Smuggling is a serious offence. Under the IEO, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years.

Members of the public are urged to report suspected illicit fuel activities via the Customs' 24-hour hotline 182 8080 or the FSD's 24-hour hotline 5577 9666. The public may also report through the Illicit Fuelling Activities on the Fire Hazard Electronic Complaint Portal of the FSD (fhcp.hkfsd.gov.hk).

Hong Kong Customs, FSD and Police mount territory-wide joint operation against illicit fuel activities Source: HKSAR Government Press Releases

Hong Kong Customs, FSD and Police mount territory-wide joint operation against illicit fuel activities Source: HKSAR Government Press Releases

Hong Kong Customs, FSD and Police mount territory-wide joint operation against illicit fuel activities Source: HKSAR Government Press Releases