The Hong Kong Trade Development Council (HKTDC) announced two major initiatives on its 60th anniversary: optimizing its corporate structure through an industry cluster approach and reconfiguring global resources to tap high-growth emerging markets. Chairman Professor Frederick Ma unveiled the plans, emphasizing a forward-looking strategy to address changing geopolitics, supply chain shifts, and technological impacts.
The first initiative restructures HKTDC's functions into six sector clusters: Finance and Professional Services; Global Network and Supply Chain; Technology and Digital Innovation; Wellness and Creative Industries; Consumer Goods and Lifestyle; and Corporate Development. Executive Director Sophia Chong said the cluster approach enhances operational efficiency and sector knowledge, enabling comprehensive, integrated solutions. Companies can access one-stop support for market intelligence, exhibitions, missions, investor matching, production expansion, or market entry through a single point of contact.
The second initiative reallocates resources to capture opportunities in emerging markets. HKTDC operates 51 offices worldwide, and with global economic momentum shifting, it will strengthen its consultant office in Almaty, Kazakhstan, to bolster support in Central Asia. In the Middle East, resources will increase in Riyadh, Saudi Arabia. A new consultant office will open in Cairo, Egypt, to leverage the economic corridor spanning Central Asia, the Middle East, and Africa. Additionally, capabilities will be enhanced in Sao Paulo, Brazil, and Santiago, Chile, to capture opportunities in the Global South. In ASEAN, promotional work will strengthen in Singapore, Vietnam, Malaysia, and the Philippines, while capabilities will also enhance in Istanbul and Warsaw. Traditional markets like North America will see maintained two-way trade and investment promotion, and the London office will expand to oversee Nordic markets.
Professor Ma noted that the Chief Executive's successful mission to Kazakhstan and Uzbekistan in June opened doors for Hong Kong enterprises, generating potential opportunities. These optimizations aim to help Hong Kong companies leverage the city's unique role as a superconnector and super value-adder, aligning with Hong Kong's first Five-Year Plan and contributing to national development. The HKTDC will continue to support Chinese Mainland enterprises going global and encourage international companies to use Hong Kong as a base for expansion.
For more details, the presentation is available at https://bit.ly/3ThqfX8 and photos at https://bit.ly/4wUoMEA. HKTDC's 60th anniversary activities are featured at https://60.hktdc.com/en.
