The Hong Kong Trade Development Council (HKTDC) celebrated its 60th anniversary by announcing two major initiatives aimed at enhancing efficiency and tapping new markets. Chairman Professor Frederick Ma unveiled plans to optimize the council's corporate structure through an industry cluster approach and to reconfigure its global network resources to focus on high-growth emerging markets, including Central Asia, the Middle East and North Africa.
In response to changing geopolitics, supply chain reconfigurations and the rise of new technology, the HKTDC is reorganizing its services around six sector clusters: Finance and Professional Services; Global Network and Supply Chain; Technology and Digital Innovation; Wellness and Creative Industries; Consumer Goods and Lifestyle; and Corporate Development. Executive Director Sophia Chong explained that this cluster approach enhances operational efficiency and sector knowledge, enabling the council to provide more comprehensive and integrated solutions through a single point of contact.
To tap new markets, the HKTDC is strengthening its consultant office in Almaty, Kazakhstan, to support Central Asia, and reinforcing its office in Riyadh, Saudi Arabia, for the Middle East. It will also open a new consultant office in Cairo, Egypt, to enhance its presence in Africa. In support of the Belt and Road Initiative, the council will boost capabilities in Sao Paulo, Brazil, and Santiago, Chile, which will also oversee Peru, to capture opportunities in the Global South. Additionally, the HKTDC will strengthen promotional work in ASEAN countries including Singapore, Vietnam, Malaysia and the Philippines, and enhance capabilities in Istanbul and Warsaw. While maintaining engagement with traditional markets like North America, the council will expand the responsibilities of its London office to cover Nordic markets.
Professor Ma noted that the Chief Executive's successful mission to Kazakhstan and Uzbekistan in June opened doors for Hong Kong enterprises, generating potential opportunities that the HKTDC will follow up. The council aims to leverage Hong Kong's unique role as a superconnector and super value-adder, supporting Chinese Mainland enterprises to go global and encouraging international companies to use Hong Kong as a base for expansion. These optimizations align with Hong Kong's first Five-Year Plan and contribute to the country's development.
For more information on the HKTDC's 60th anniversary activities, visit https://60.hktdc.com/en. The presentation and photo downloads are available at https://bit.ly/3ThqfX8 and https://bit.ly/4wUoMEA respectively.
