The 9th Belt and Road Summit, co-organized by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), concluded on September 11, 2024, attracting over 6,000 business participants from 70 countries and regions. The summit marked a new milestone for the Belt and Road Initiative (BRI) as it enters its next golden decade, with a record 25 Memoranda of Understanding (MoUs) signed, further solidifying Hong Kong’s pivotal role in global economic collaboration.
Facilitating Global Business and Cooperation
The 25 MoUs signed at the summit included 4 Government-to-Government (G2G) and 21 Business-to-Business (B2B) agreements, with participants from Hong Kong, Mainland China, ASEAN, and the Middle East, among others. One notable G2G MoU was signed between the HKTDC and the Ministry of Commerce of Cambodia, building upon a successful trade visit to Cambodia in July. This agreement aims to promote bilateral trade and economic cooperation under the Belt and Road framework, creating new opportunities for companies in both regions.
Among the B2B MoUs, Farmacy International Pty Ltd from Hong Kong and FutureBright Society Enterprise Pty Ltd from Australia announced a strategic joint venture, Farmacy ANZ, to develop sustainable agricultural innovations in Australia and New Zealand, aligning with the BRI’s green development goals.
Advancing Technology and Sustainability
In line with the summit’s focus on sustainability and innovation, Perumda Varia Niaga Samarinda from Indonesia, LINKTA Technologies, and Rainmaker Ventures from Hong Kong signed an MoU to invest in smart agricultural technologies for Indonesia’s new capital, Nusantara. This partnership demonstrates the growing trend of green technologies within the BRI framework.
Zoe Zhao, CEO of Rainmaker Ventures, highlighted the significance of the Belt and Road Summit, stating, “This event is a key platform for showcasing our sustainable technologies and connecting with potential global partners, further driving innovation in Southeast Asia.”
Expanding Investment Opportunities
The summit’s business matching services received an enthusiastic response, with over 280 investment projects matched and more than 800 one-on-one meetings held. Key areas of focus included energy, technology, urban development, and transport infrastructure. The event emphasized Hong Kong’s role as a global deal-making hub, connecting stakeholders to foster international partnerships.
The exhibition area featured 110 exhibitors, with a dedicated zone organized by the Ministry of Commerce of the People’s Republic of China and the HKTDC, highlighting achievements in greentech, cross-border e-commerce, and cloud services.
Keynote Insights and Global Collaboration
During the summit’s Keynote Luncheon, Paul Chan, Financial Secretary of the HKSAR, and Dilma Rousseff, President of the New Development Bank, emphasized the importance of international cooperation to drive industrialization and sustainable growth. Rousseff noted, “The Belt and Road Initiative provides a crucial platform for green development and international cooperation, helping developing countries achieve inclusive growth through innovation.”
Opportunities in Emerging Markets
The Business Plenary themed "Tapping the Markets of New Opportunities" focused on exploring investment prospects in the Middle East and emerging markets. Industry leaders such as Bonnie Y Chan, CEO of Hong Kong Exchanges and Clearing Limited, and Dato Paduka Iqbal Khan, CEO of Fajr Capital, discussed strategies to seize opportunities in these rapidly growing regions.
Driving Global Partnerships and Innovation
The 9th Belt and Road Summit set new records for global collaboration, with 25 MoUs signed and hundreds of projects matched, reinforcing Hong Kong’s strategic role in the Belt and Road Initiative. By fostering partnerships across sectors and regions, the summit continues to be a critical platform for driving innovation, sustainability, and economic growth on a global scale. As the Belt and Road Initiative enters its next decade, the summit remains at the forefront of connecting businesses, governments, and resources to build a prosperous future for all.