HK and Brazil sign MoU for enhanced co-operation and FDI

Invest Hong Kong (Invest HK) and Apex-Brazil have signed an MoU in Sao Paulo aimed at enhancing mutual co-operation in generating more direct investment between the two regions.

The MoU was signed on Friday by the Invest HK director-general of investment promotion Stephen Phillips and the president of Apex-Brasil, Government of Brazil, Roberto Jaguaribe.

The MoU provides a framework to enhance the close relationship of HK and Brazil by further promoting both inward and outward investment in the two jurisdictions. Mr Phillips also met with mayor of Sao Paulo, Joao Doria, and a wide range of Brazilian business leaders from various quarters, including the WTC Business Club.

The signing of the MoU marked the end of a five-day visit by Mr Phillips, who also visited Auckland, New Zealand and Santiago, Chile, to promote Hong Kong’s new business opportunities arising from Mainland China’s Belt and Road Initiative, and the Hong Kong Special Administrative Region (HKSAR) government’s latest HK$50bn innovation push.

Earlier, in Auckland, Phillips met with business leaders and was one of the key speakers at a business seminar jointly organised by the Hong Kong Economic and Trade Office, Sydney, and the Auckland Chamber of Commerce, at which he updated around 100 business executives on the latest business developments in Hong Kong.

While in Santiago, he met with heads of leading banks, the Chile China Business Council and the Chilean National Fruit Exporters Association, as well as with leaders of key industries such as aviation, innovation and technology and business services.

Concluding the visit, Phillips said, “I have explained to each of the local business communities Hong Kong’s unique position in the Belt and Road Initiative. In this connection, Hong Kong as an international financial and business centre plays an active role in terms of fundraising and professional services, as will be required by many Belt and Road projects.

“I’ve also provided an update on the latest financial boost from our government for innovation and technology development in Hong Kong, as set out by the Financial Secretary in his Budget speech. I believe the latest financial measures will help Invest HK lure more foreign investors to set up in Hong Kong in the arena of innovation and technology to add to the diversity of our economy.”

ABOUT THE AUTHOR
Christopher Copper-Ind
Christopher Copper-Ind is Editor of International Investment.

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