18 June 2010
Opportunities Abound for Hong Kong SMEs in Middle East
HKTDC Branch Director’s Analysis First in Series of Webcasts
18 May 2010 – Hong Kong companies can expect to find “tremendous opportunities” in the Middle East despite recent economic difficulties seen in the region, according to Stephen Wong, the Hong Kong Trade Development Council (HKTDC) Regional Director for the Middle East and Africa.
Mr Wong, who spoke recently along with other HKTDC branch directors for a series of interviews which will appear on the HKTDC webcast service at www.youtube.com/hktdc, said there are signs of gradual stabilisation in the real estate market in Dubai. He said Hong Kong companies are also finding success by widening their scope in the region.
“Qatar, for example, is bidding for the 2022 World Cup, and if they succeed, they have to build 40,000 more rooms,” said Mr Wong. “I think there is a tremendous opportunity for Hong Kong.” Mr Wong also noted that Iraq offers promise as it emerges as part of a “New Silk Road.”
“People are trying to connect Europe with Asia, but the only way to do it geographically is via Iraq or via Turkey or Syria. At the moment, because of the real links, they are not connected yet or they have been devastated during the war,” Mr Wong said. He said the tens of billions of dollars worth of infrastructure projects in Iraq should also interest Hong Kong companies.
Mr Wong said Hong Kong companies have already been involved with huge projects such as Dubai’s Burj Khalifa, the tallest building in the world, and the record-breaking LED video screen at the Meydan horse racing track. Hong Kong’s Mass Transit Railway was also a consultant on the Dubai metro.
To see the full webcast interview with Mr Wong, please go to: www.youtube.com/hktdc.
HKTDC Webcast: http://www.hktdc.com/info/webcast/v/en/en/1X04AO3X
Please contact the HKTDC's Corporate Communication Department:
Tel: (852) 2584 4216
About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com.