LegCo expresses deep condolences on passing of former Vice-Chairman of CPPCC National Committee and first Chief Executive of HKSAR, Mr Tung Chee Hwa
The following is issued on behalf of the Legislative Council Secretariat:
All Members of the Legislative Council (LegCo) expressed their deep condolences today (September 9) on the passing of former Vice-Chairman of the National Committee of the Chinese People's Political Consultative Conference and the first- and second-term Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr Tung Chee Hwa, and extended their sincere sympathies to his family.
The Legislative Council, Photo by Bastille Post
The President of the LegCo, Dr Starry Lee, said that Mr Tung had a lifelong dedication to loving the country and Hong Kong, displaying a deep affection for the nation and home, as well as a strong sense of responsibility. He dedicated himself to leading the smooth establishment of the HKSAR, steadfastly implementing the principles of "one country, two systems", "Hong Kong people administering Hong Kong" and a high degree of autonomy, while telling the good stories of Hong Kong to the international community. He wrote a groundbreaking chapter for Hong Kong's smooth transition and glorious return to the motherland at a critical juncture, standing out as an outstanding contributor to "one country, two systems".
Dr Lee pointed out that Mr Tung always kept the livelihood of the public close to his heart and put people first. During his tenure, he led his team to respond imperturbably to unprecedented and severe tests, including the Asian financial crisis and the Severe Acute Respiratory Syndrome (SARS) epidemic. Taking the well-being of Hong Kong and the public as his top priority, he was committed to resolving deep-seated problems and social conflicts in Hong Kong. At the same time, with great foresight, he devoted himself to strengthening the economic and trade ties as well as synergized development between Hong Kong and the Mainland, and driving policy initiatives in innovation and technology, education, housing and elderly care, laying a solid foundation for Hong Kong's long-term development.
Dr Lee praised Mr Tung for his benevolence and kindness, and expressed her appreciation for his effort in winning people over by virtue. His selfless contributions and remarkable achievements to Hong Kong's prosperity and stability and national development are invaluable. His noble character will live forever in the hearts of the public and serve as an exemplar for future generations. All LegCo Members will surely uphold Mr Tung's conviction that "When Hong Kong succeeds, the country will benefit. When the country succeeds, Hong Kong will prosper", continuing to leverage Hong Kong's unique advantages to contribute to the nation.
Mr Tung Chee Hwa, Photo source: XInhua News
Hong Kong and Bangladesh sign Investment Promotion and Protection Agreement
Hong Kong and Bangladesh signed an Investment Promotion and Protection Agreement (IPPA) today (September 9) to strengthen mutual investment protection, with a view to enhancing the confidence of investors, expanding investment flows and further strengthening the economic and trade ties between the two places.
The Secretary for Commerce and Economic Development, Mr Algernon Yau, signed the IPPA on the margins of the Belt and Road Summit with the Minister of Commerce, Industries, Textiles and Jute of Bangladesh, Mr Khandakar Abdul Muktadir.
Mr Yau said, "As a manufacturing powerhouse and a populous country in South Asia, Bangladesh has a rapidly expanding economy and is an important trade and investment partner of Hong Kong. This IPPA marks a new milestone in strengthening the longstanding trade and investment links between Hong Kong and Bangladesh. The signing of the IPPA on the margins of the Belt and Road Summit also signifies the Hong Kong Special Administrative Region Government's commitment to the continual expansion of economic ties with markets along the Belt and Road, of which Bangladesh is a staunch supporter.
"An IPPA enables investors of the two parties to enjoy corresponding protection of their investments in the host economies, and thus enhances confidence of investors in making investments abroad. Hong Kong has been making dedicated efforts to expand its network of IPPAs, in particular with countries along the Belt and Road, in order to enhance two-way investment flows and bring about economic growth and mutual prosperity," he added.
Under the Agreement, the two governments undertake to provide investors of the other side with, among other measures, fair, equitable and non-discriminatory treatment of their investments, compensation in the event of expropriation of investments, and the right to free transfers abroad of investments and returns. The Agreement also provides for the settlement of investment disputes under internationally accepted rules, including mediation and arbitration. The Agreement will enter into force after the fulfilment of relevant internal requirements by both sides.
The IPPA with Bangladesh is the third such agreement that this term of Government has signed, following the IPPAs with Türkiye and Bahrain signed in October 2023 and March 2024 respectively.
Including Bangladesh, Hong Kong has so far signed 25 IPPAs with 34 foreign economies. The other economies are 10 member states of the Association of Southeast Asian Nations (namely Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam), Australia, Austria, Bahrain, Belgium, Canada, Chile, Denmark, Finland, France, Germany, Italy, Japan, Korea, Kuwait, Luxembourg, Mexico, the Netherlands, New Zealand, Sweden, Switzerland, Türkiye, the United Arab Emirates and the United Kingdom.
Hong Kong and Bangladesh sign Investment Promotion and Protection Agreement Source: HKSAR Government Press Releases
Hong Kong and Bangladesh sign Investment Promotion and Protection Agreement Source: HKSAR Government Press Releases
