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):

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.

The Chief Executive, Mr John Lee, attended the Uzbekistan-China (Hong Kong) Economic Forum today (May 6). Photo shows Mr Lee (second left) and the Prime Minister of Uzbekistan, Mr Abdulla Nigmatovich Aripov (second right), at the Bilateral Document Exchange Ceremony. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, attended the Uzbekistan-China (Hong Kong) Economic Forum today (May 6). Photo shows Mr Lee (third right) and the visiting Prime Minister of Uzbekistan, Mr Abdulla Nigmatovich Aripov (first right), touring the exhibition. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, speaks at the Uzbekistan-China (Hong Kong) Economic Forum today (May 6). Source: HKSAR Government Press Releases

Employers, contractors and employees should be aware of electrical safety at work during rainstorms

As the rainstorm warning has been issued by the Hong Kong Observatory, the Labour Department (LD) reminds employers and contractors that they should adopt necessary work arrangements and take suitable safety measures to protect the safety of their employees when they are carrying out electrical work or handling electrical plant.

A spokesman for the LD said today (May 9) that employers and contractors should avoid assigning employees to carry out electrical work (such as electric arc welding work) or handle electrical plant at places affected by rainstorms, and should refer to the "Code of Practice in Times of Adverse Weather and 'Extreme Conditions'" and the "Guide on Safety at Work in times of Inclement Weather" issued by the LD.

Even if electrical work is carried out or electrical plant is handled at places not affected by a rainstorm, suitable safety measures must still be adopted to prevent an electric shock as the air would be more humid. Such measures include:

(i) Ensure that all live parts of an electrical installation are isolated from the power supply source and rendered dead, and the isolation from the power supply source must be maintained as long as electrical work is being carried out;

(ii) Before carrying out any electrical work or handling any electrical plant, cut off and lock out the power supply source, then test the circuit concerned to confirm that it is dead and display suitable warning notices, and issue a work permit thereafter;

(iii) Ensure that protective devices (such as suitable and adequate fuses and circuit breakers) for the electrical installations or electrical plant have been installed and maintained in good working order, and portable electric tools must be double-insulated or properly earthed;

(iv) Provide suitable personal protective equipment such as insulating gloves and insulating mats for employees; and

(v) If live electrical work is unavoidable, a comprehensive risk assessment should be conducted by a competent person and the appropriate safety precautions should be taken to remove or properly control the electrical hazards involved before such work can proceed.

In addition, employees should co-operate with the employer or contractor to follow the safety instructions and use the safety equipment provided.

The LD has published guidebooks and leaflets on electrical work safety. These safety publications are available free from divisional offices of the department or can be downloaded from its website (www.labour.gov.hk/eng/public/content2_8.htm).

Should there be any questions about occupational safety and health matters, please contact the Occupational Safety Officer of the LD at 2559 2297.

Source: AI-found images