SCED: Calling for Hong Kong-Malaysia Cooperation at Hong Kong Luncheon of "Think Business, Think Hong Kong"

Speech by SCED at Hong Kong Luncheon of "Think Business, Think Hong Kong" in Kuala Lumpur

Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the Hong Kong Luncheon of "Think Business, Think Hong Kong" in Kuala Lumpur today (August 11):

The Secretary for Commerce and Economic Development, Mr Algernon Yau, Photo source: reference image

YB Liew (Deputy Minister of Finance of Malaysia, Mr Liew Chin Tong), H.E. Ouyang Yujing (Chinese Ambassador to Malaysia, Mr Ouyang Yujing), YB Sim (Deputy Minister of Investment, Trade and Industry, Mr Sim Tze Tzin), Frederick (Chairman of the Hong Kong Trade Development Council, Professor Frederick Ma), distinguished guests, ladies and gentlemen,

Good afternoon, and Selamat Tengah Hari.

First of all, it is a true privilege to welcome you all to today's Hong Kong Luncheon of "Think Business, Think Hong Kong". This is my second visit to Kuala Lumpur this year, and I must say that I am, as always, deeply impressed by the energy, the dynamism, and the warmth of its people. From the bustling streets to the modern skyline, Kuala Lumpur truly embodies the spirit of a global hub for trade, innovation, and cultural exchanges.

I look forward to the visits and events ahead in the coming days and am confident that through these engagements, we will explore more of the business opportunities this city has to offer, and strengthen the ties between our two economies.

In the opening session of the symposium this morning, various speakers emphasised the robust and ever-growing bilateral trade and investment partnership between Malaysia and Hong Kong. Indeed, Malaysia is one of our largest trading partners within ASEAN (Association of Southeast Asian Nations), and Hong Kong continues to serve as a significant source of foreign direct investment into Malaysia. Since the signing of the ASEAN-Hong Kong, China Free Trade Agreement and Investment Agreement in 2017, our outward investment into ASEAN has grown by 54 per cent, and the number of offices in Hong Kong with parent companies located in ASEAN has risen by 42 per cent. We also collaborate very closely with Malaysia in different multilateral trade bodies, notably the Asia-Pacific Economic Cooperation and the World Trade Organization, to pursue our common interests in trade and economic issues at the regional as well as global level.

Hong Kong, Photo source: reference image

Building on that momentum, Hong Kong continues to offer unparalleled commercial value under the "one country, two systems" principle. With our common law framework, simple tax regime, free capital flow, and direct access to the Chinese Mainland, Hong Kong serves as the "super connector" and "super value-adder" for Malaysian enterprises expanding across Asia, especially into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) which offers immense opportunities to overseas businesses.

To further strengthen our role as the gateway to the GBA, we are proactively driving the development of the Northern Metropolis, a mega development area of 30 000 hectares which will become Hong Kong's new economic engine. It houses a variety of strategic economic functions: a new innovation and technology ecosystem, high-end manufacturing and professional services, a world-class university town, and a global hub for investments, new industries and talent. To attract high-potential industries and strategic enterprises, we also proactively formulate preferential policy packages, which may cover land grant, land premium and tax incentive of as low as 5 per cent only, based on enterprises' needs.

Business is a two-way street. Today, we have gathered over 300 guests at the luncheon, bringing together Hong Kong and Malaysian government officials, influential corporate leaders, industry experts, association representatives and representatives of Hong Kong and Mainland enterprises. The purpose is clear: to listen, connect, and explore opportunities for collaboration and business growth. Let us take full advantage of today's events to make new friends, and chart new paths.

Terima kasih and thank you.

Hong Kong, Photo source: reference image

TD approves pilot licence for autonomous vehicles trial for West Kowloon "Air-Rail Intermodal Service"

The Transport Department (TD) announced today (August 11) that a pilot licence for autonomous vehicles (AVs) has been issued to approve an AV trial between Hong Kong West Kowloon Station of the Express Rail Link (XRL) and Kowloon Station of the Airport Express, in accordance with section 4(1) of the Road Traffic (Autonomous Vehicles) Regulation (Cap. 374AA).

The trial involves four private cars operating in autonomous mode, routeing through Wui Man Road, Jordan Road, Nga Cheung Road, Station Perimeter Road South, Station Perimeter Road East and Station Perimeter Road North. During the trial, a backup operator will be stationed in the vehicle at all times to take over control of the vehicle when necessary. The TD's pilot AV labels must be displayed on all pilot AVs for identification by other road users. Details of the pilot licence have been uploaded to the TD's website on AV trials.

A spokesman for the TD said that the Government has been promoting the development of AVs in an active and orderly manner through a multipronged approach by providing policy support, regulatory backing and financial subsidy. This project will demonstrate the safety, stability and operational feasibility of AV technologies in an environment with high passenger flows and complex traffic dynamics. By successfully operating within such a multimodal transport hub, the project will establish an extensible operating mode that will serve as a cornerstone for integrating the AV fleet into the wider public transport network in future.

Once the AVs commence regular operation, they will establish a seamless and autonomous driving connection between Hong Kong West Kowloon Station of the XRL and Kowloon Station of the Airport Express. This will provide travellers with a convenient choice to further enhance their travel experience, thereby attracting more travellers to use the XRL and the Hong Kong International Airport, the spokesman added.

Driving and road safety remain the Government's top priorities. The Government will draw on practical experience to refine technical standards, share research findings with the industry in a timely manner, and implement initiatives to promote AVs in a prudent and orderly manner. Chaired by the Commissioner for Transport, the Autonomous Vehicle Applications Promotion Working Group will, in collaboration with relevant departments and the industry, review the progress of each AV project; provide steer on the trial locations, vehicle types and licensing arrangements required to support the commercial development of AVs; and explore appropriate regulatory arrangements to allow AVs to provide a certain degree of commercial services in specific areas on an individual pilot basis.

The TD welcomes interested organisations or enterprises to submit applications for a pilot licence for AVs. Upon receipt of an application, the TD will consider various factors, including the operational design domain and functions of the autonomous driving system, relevant national or international standards/guidelines, and the road testing conditions, based on the Code of Practice for Trial and Pilot Use of Autonomous Vehicles, before granting approval.

Source: AI-found images