Consul General Ellias Mutamba of Zimbabwe has emphasized Hong Kong's potential as a significant investment platform to unlock Zimbabwe's vast mining resources, which include lithium, gold, and diamonds. In a recent statement, Mutamba highlighted that Zimbabwe's mining industry generated US$5.6 billion in 2022 and expressed the need for a formal agreement between InvestHK and the Zimbabwe Investment and Development Agency to facilitate this collaboration. [2025c25d]
Mutamba, who has been stationed in Hong Kong since 2022, is advocating for increased business and student exchanges between the two regions. He believes that fostering these connections will not only enhance trade but also boost tourism through improved flight connectivity. [2025c25d]
Despite Zimbabwe's rich resources, the country faces challenges, ranking 149 out of 180 in Transparency International's Corruption Perception Index. This ranking underscores the need for careful navigation of investment opportunities and the importance of establishing trust in business dealings. [2025c25d]
In a broader context, Mongolia's Consul General Khulan Onkhoon has also been actively promoting her country's economic ties with Hong Kong. She has proposed reviving a business forum in Hong Kong next year to discuss dual stock market listings and enhance economic collaboration. Mongolia's economy, heavily reliant on mining, seeks to learn from Hong Kong's expertise in logistics and health services. [ed99b90a]
As both nations look to strengthen their economic ties, high-level delegations from Mongolia are visiting Hong Kong to explore best practices in various sectors. The upcoming 75th anniversary of diplomatic relations between China and Mongolia in 2024 provides a timely backdrop for these discussions. [ed99b90a]
Meanwhile, Russian Consul General Anatoly Kargapolov has expressed optimism about enhancing collaboration in arts, tourism, and education between Russia and Hong Kong. He noted that leading Russian museums are prepared to share their artworks with local institutions, and discussions about the Bolshoi Theatre performing in Hong Kong are underway. [1fcba9c9]
In 2023, Hong Kong's bilateral trade with Russia reached US$5.8 billion, reflecting a significant increase from the previous year. Kargapolov dismissed the impact of Western sanctions on this trade, emphasizing the importance of maintaining strong ties with Russia. [bafc89fa]
As Hong Kong continues to position itself as a hub for international investment and trade, the government is focusing on attracting more initial public offerings (IPOs) from mainland companies and enhancing connectivity within the Greater Bay Area. Financial Secretary Paul Chan Mo-po has reiterated that investor confidence is gradually returning to Hong Kong, particularly as property prices stabilize. [6b466566]
The cultural exchange is also evident in the increasing number of Russian tourists visiting Hong Kong, with nearly 77,000 recorded in the first eight months of 2024, a significant rise from the previous year. This influx is supported by the resumption of direct flights between Hong Kong and Moscow. [1fcba9c9]
In this evolving landscape, Hong Kong's asset management sector has shown resilience, managing over HK$31 trillion in 2023, attributed to strong investor confidence and net capital inflows. Finance chief Paul Chan reassured that concerns about capital outflows are unfounded, as investors continue to trust in the prospects of both the mainland and Hong Kong markets. [34d94bb8]