HONG KONG SAR - Media OutReach Newswire - 13 May 2025 - Invest Hong Kong (InvestHK), the Hong Kong government's investment promotion arm, announced today (12 May 2025) that Ms Alpha Lau, Director-General of Investment Promotion at InvestHK, started her visit in Istanbul, Türkiye, to strengthen economic ties and promote Hong Kong as the ideal gateway for Turkish businesses to expand into Mainland China and Asia.
During her visit, Ms Lau engaged with Turkish media, emphasising the significant advantages and opportunities for companies to set up or expand in Hong Kong. She also met with representatives from local Chamber of Commerce and businesses eager to set up operations in Hong Kong, facilitating their expansion and success across the Asia-Pacific region.
Shared Gateway Roles in the Belt and Road Initiative
Türkiye and Hong Kong are strategic gateways in the Belt and Road Initiative (BRI). Türkiye connects Europe and Asia, while Hong Kong bridges Mainland China and the global market. As natural partners, Türkiye's active participation in the BRI compliments Hong Kong's role as a super-connector for capital, talent, and services, creating significant opportunities for collaboration.
Hong Kong: Asia's Premier Business Launchpad
Hong Kong offers Turkish businesses unmatched access to Mainland China and the Asia-Pacific through initiatives like Greater Bay Area and its Free Trade Agreement with ASEAN. Its business-friendly environment, characterised by a low and simple tax regime, a common law system, and free capital flow, makes it an ideal platform for international growth.
Strengthened Hong Kong–Türkiye Economic Ties
The Hong Kong–Türkiye comprehensive avoidance of double taxation agreement (CDTA), signed in 2024, enhances tax certainty and facilitates cross-border transactions. In 2024, Türkiye was Hong Kong's 30th largest trading partner in merchandise trade in the world and in the same year, Türkiye ranked 40th among Hong Kong's domestic export markets.
Since November 2023, Türkiye's inclusion in Hong Kong's Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) supported Hong Kong companies expanding into the Turkish market.
Additionally, InvestHK opened a new consultant office in Izmir, Türkiye's third-largest city, in early 2025, working together with its consultant based in Istanbul to reinforce the department's commitment to promoting Hong Kong's opportunities for Turkish corporates.
Hong Kong's Investment Environment
Hong Kong is considered to be one of the most liberal and easiest places to do business in the world, as reflected in many renowned international rankings. To name just a few, the Business Ready 2024 Report published by the World Bank Group has ranked Hong Kong the first in "International Trade"; Hong Kong also ranked as the world's freest economy in the "Economic Freedom of the World: 2024 Annual Report" by the Fraser Institute and the 5th most competitive economy in the "World Competitiveness Yearbook 2024" by the International Institute for Management Development; and according to the "World Investment Report 2024" released by the United Nations Trade and Development in June 2024, Hong Kong was the 4th largest recipient of FDI inflow in 2023 globally.
Invitation to Turkish Enterprises
Ms Lau invited Turkish companies in technology, manufacturing, logistics, and consumer goods to establish a regional base in Hong Kong or channel investments through the city to access Mainland China, ASEAN, and Asia-Pacific markets. Hong Kong's deep financial markets, international talent pool, and Asia-wide connectivity empowered businesses to innovate and grow with confidence.
Recent successes included Turkish Cargo, which capitalised on supply chain demands to expand its market share, and a Turkish creative advertising agency that built a stronghold in Hong Kong.
Ms Lau said, "Turkey, situated at the strategic junction of Europe and Asia, plays a pivotal role in the Belt and Road Initiative. With its robust industrial base and regional connectivity, Turkey serves as a key partner for international trade and investment. Hong Kong, as a leading global financial and logistics hub, offers Turkish enterprises a trusted platform to access Mainland China and the wider Asia-Pacific market. We see immense potential for collaboration in areas such as advanced manufacturing, green development, logistics, and innovation. We sincerely welcome Turkish investors to leverage Hong Kong's unique advantages as a springboard for regional and global growth."
Hashtag: #InvestHK
The issuer is solely responsible for the content of this announcement.
News Source: InvestHK
13/05/2025 Dissemination of a Financial Press Release, transmitted by EQS News.
The issuer is solely responsible for the content of this announcement.
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