Speech by SCED at Uzbekistan-China (Hong Kong) Economic Forum
Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, 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), Chief Executive, Mr John Lee, distinguished guests, ladies and gentlemen,
Good afternoon. It is my honour to join you today at the Uzbekistan-China Economic Forum. I look forward to exploring how Hong Kong and Uzbekistan can forge even bolder paths toward mutual growth under the Belt and Road Initiative.
Uzbekistan: a hub in Central Asia
Uzbekistan is strategically located at the heart of Central Asia, bordering all other Central Asian countries. For thousands of years, it served as a crucial hub on the ancient Silk Road, where trade, culture, and ideas flourished. Today, under the Belt and Road Initiative, Uzbekistan continues to play a vital role as a bridge connecting Asia and Europe.
With a population of approximately 38 million, nearly 45 per cent of Central Asia's total, Uzbekistan is the region's most populous country. It is rich in natural resources and offers tremendous opportunities for companies looking to enter Central Asia. In 2025, Uzbekistan recorded impressive real gross domestic product growth of 7.7 per cent, making it one of the fastest-growing economies in the region.
The Belt and Road Initiative
Since it was proposed in 2013, the Belt and Road Initiative has become the largest international co-operation platform. It represents a pathway of shared prosperity, mutual benefits, and boundless opportunity. In a world full of uncertainties, the Belt and Road Initiative continues to provide stability and positive momentum for global development.
Uzbekistan was among the first countries to support and actively participate in this Initiative. Today, the Chinese Mainland is Uzbekistan's largest trading partner and a major source of investment. The strong economic complementarity between our two sides points to enormous potential for deeper collaboration in the years ahead.
Ties between Hong Kong and Uzbekistan
Hong Kong, as an international financial, shipping, and trade centre, values Uzbekistan as a key partner in Central Asia. Our relations have grown steadily in recent years. In 2025, our bilateral trade accounted for over 13 per cent of Hong Kong's total trade with the region.
High-level engagements further underscore our deepening ties. Last August, the Chief Executive, Mr John Lee, met with Deputy Prime Minister of Uzbekistan Mr Jamshid Khodjaev who led a delegation to Hong Kong. Last September, Deputy Minister of Economy and Finance of Uzbekistan Mr Umid Abidkhadjaev visited Hong Kong to attend the 10th Belt and Road Summit. During the policy dialogue I chaired, we had very productive discussions on new opportunities under the Belt and Road Initiative. During the Summit, Airport Authority Hong Kong signed a Memorandum of Understanding with the Uzbek partner to enhance air connectivity between us.
Hong Kong's advantages
Under the "one country, two systems" principle, Hong Kong enjoys distinctive advantages of enjoying strong support of the motherland and being closely connected to the world. As the only common law jurisdiction within China, we offer a highly open, transparent, and international business environment, supported by world-class professional services and talent. Our simple tax system, free flow of capital, goods, information and talent, together with robust intellectual property protection, make Hong Kong an ideal platform for business.
In 2025, the number of companies with overseas and Mainland parent companies registered in Hong Kong reached a record high of over 11 000. We remain the world's freest economy, the world's fifth-largest trading entity in merchandise trade, and rank third globally in attracting foreign direct investment.
To support more Mainland enterprises in expanding overseas, the Hong Kong Special Administrative Region (HKSAR) Government established the Task Force on Supporting Mainland Enterprises in Going Global last year. It brings together cross-bureau, cross-departmental, cross-organisation, and cross-sectoral resources to build a one-stop, responsive and unprecedented going-global support platform. In line with the national policy and direction of encouraging Mainland enterprises to go global, it will assist these enterprises to systematically expand globally, transform it into a new driving force for Hong Kong's economy, and further consolidate Hong Kong's position as an international business and trade hub.
With our global outlook and strategic location, Hong Kong is the premier hub for mega events. Every year, we host numerous influential international events across various fields. In addition to the annual Belt and Road Summit, a flagship event for the business community, we have the Asian Financial Forum, which gathers global financial leaders; the Asia Summit on Global Health, which explores cutting-edge medical innovations; and InnoEX, which showcases our strengths in innovation and technology. These high-profile events attract political and business leaders, representatives of international organisations, and top experts from around the world to Hong Kong. They spark vibrant exchanges of ideas and further deepen Hong Kong's connections and co-operation with the global community.
As an international aviation hub at the heart of Asia, Hong Kong is well connected to the rest of the world. From here, half of the global population is reachable within a five-hour flight. Since 2010, Hong Kong International Airport has been named the world's busiest cargo airport 15 times. With our excellent transport network, advanced communications systems, and world-class infrastructure, our airport continues to be recognised as one of the best airports in the world.
Hong Kong also possesses an outstanding talent pool. We are vigorously building a global hub for high-end professionals. Home to five of the world's top 100 universities, Hong Kong is ranked second globally for education competitiveness. Each year, the HKSAR Government offers 150 Belt and Road Scholarships to attract outstanding students from Belt and Road countries. To date, over 830 students from 57 Belt and Road countries have benefited. I warmly welcome more young people from Uzbekistan to study, innovate, and build their futures in Hong Kong. The international talent hub we are creating will support not only Hong Kong's future, but also long-term regional co-operation.
In urban planning and sustainable development, we are also happy to share Hong Kong's experience with Uzbekistan. Even in our highly dense city, about 40 per cent of our land mass has been designated as country parks and special areas. Hong Kong offers a spectacular range of natural scenery within easy reach of urban areas, demonstrating our strong commitment to ecological balance amid urban development. As Uzbekistan advances its infrastructure rapidly, Hong Kong enterprises and professionals can offer rich international expertise, including advanced construction technologies, innovative designs, and flexible financing solutions, to support your development goals.
Uzbekistan is a key regional hub in Central Asia, while Hong Kong serves as Asia's premier connectivity hub. Our strengths are highly complementary. Looking ahead, we can become ideal partners in green development, digital economy, healthcare, and many other innovative fields. Together, we are perfectly positioned for mutually beneficial co-operation.
Conclusion
Ladies and gentlemen, today's forum is more than an exchange of ideas, it is a valuable opportunity to build real partnerships between Hong Kong and Uzbekistan. I warmly invite more Uzbek companies to come to Hong Kong, to invest, and to use our international platform to access the vast Chinese Mainland market and opportunities worldwide. At the same time, I encourage all of you to fully utilise Hong Kong's role as the functional platform for the Belt and Road Initiative, to expand your business globally.
As we stand at the beginning of our country's 15th Five-Year Plan, Hong Kong will continue to play our role as a "super connector" and "super value-adder". We will actively integrate into the national development strategies, deeply participate in the high-quality development of the Belt and Road Initiative, and contribute Hong Kong's strengths to building a community with a shared future for mankind.
In closing, I wish today's forum every success and fruitful outcomes for all participants. Thank you very much.
The Secretary for Commerce and Economic Development, Mr Algernon Yau, Photo source: reference image
