Hong Kong and Brazil sign MOU on investment promotion co-operation
Invest Hong Kong (InvestHK) and Brazil today (March 16) signed a Memorandum of Understanding (MOU) aimed at enhancing mutual co-operation to generate more foreign direct investment between the two places.
The signing of the MOU in São Paulo, Brazil, marked the end of a five-day visit by the Director-General of Investment Promotion, Mr Stephen Phillips, who also visited Auckland in New Zealand and Santiago in 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$50 billion innovation push.
The memorandum was signed by Mr Phillips and the President of Apex-Brasil of the Government of the Federative Republic of Brazil, Mr Roberto Jaguaribe. It provides a framework to enhance the close relationship of the HKSAR and Brazil by further promoting both inward and outward investment in the two jurisdictions. In São Paulo, Mr Phillips also met with mayor, Mr João Doria, and a wide range of Brazilian business leaders in various quarters, including the WTC Business Club.
Earlier, in Auckland, Mr 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, Mr Phillips said, "I have explained to the local business communities in these places 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 InvestHK 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."
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