InvestHK to deepen economic ties with Canadian investors and businesses
'Hong Kong and Canada have long shared a strong and mutually beneficial investment relationship. In 2023, Canada ranked eighth among the major sources of inward direct investment into Hong Kong, contributing over US$34 billion. At the same time, Hong Kong made outward direct investment of around US$10 billion to Canada, reflecting the deep economic ties and two-way confidence between our markets,' Mr Ng said. 'Hong Kong will continue to play its unique role as both a 'super connector' and a value creator, bridging traditional and emerging markets and unlocking new opportunities for Canadian businesses.'
During his visit to Waterloo, Toronto and Montreal, Mr Ng will meet with investors, family offices, multinationals, Canadian start-ups, academia and business leaders to explore new opportunities for collaboration and showcase Hong Kong's unique advantages as a launchpad for Asian expansion. Key discussions will focus on leveraging the city's strategic gateway position to Mainland China and its business-friendly environment for scaling operations.
Mr Ng will host exclusive roundtables for entrepreneurs and Canada-Hong Kong ecosystem partners to highlight Hong Kong's strengths in wealth management and cross-border investment solutions. He will also participate in networking events to promote Hong Kong FinTech Week x StartmeupHK Festival 2025, inviting Canadian investors and entrepreneurs to visit Hong Kong November 3 to 7, engage with Asia's dynamic markets, and experience the opportunities Hong Kong offers firsthand.
Hong Kong and Canada have established longstanding and strong ties across trade, investment, tourism, and cultural exchanges. This relationship was further strengthened by the Investment Promotion and Protection Agreement, which came into effect in September 2016, providing Canadian and Hong Kong investors with a transparent and secure environment to foster cross-border investment. In 2023, Canada ranked as Hong Kong's ninth largest services trading partner, with bilateral trade growing at an average annual rate of 2.2 per cent from 2019 to 2023.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
4 hours ago
- The Sun
Southeast Asia Youth Join Global Innovation Movement at Xiamen University Malaysia
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 5 August 2025 - The final competition and award ceremony of the Southeast Asia Division Contest of China International College Students' Innovation Competition (SEA-CICSIC) 2025 and Malaysia-China Youth Innovation Competition (MCYIC) 2025 concluded successfully at Xiamen University Malaysia on 20 July 2025, bringing together young innovators from all over the Southeast Asia region to present and compete with their innovation ideas and projects. With the Ministry of Education of China as the main organiser and Xiamen University China and Xiamen University Malaysia as co-organisers, the competition attracted over 1,200 students from 10 Southeast Asian countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam), with projects covering topics such as sustainable technology, artificial intelligence, biotechnology, and social entrepreneurship. Ultimately, 50 teams from 7 countries received awards, including 10 First Prize Awards, 15 Second Prize Awards, and 25 Third Prize Awards. These winning teams represented Xiamen University Malaysia, University of Malaya, Sampoerna University, the National University of Singapore, Cambodia University of Technology and Science (CamTech), and various universities across the region. The outstanding projects will be recommended for participation in the 2025 China International College Students' Innovation Competition finals. Minister-Counsellor Chen Youliang from the Embassy of the People's Republic of China in Malaysia attended the ceremony and presented the awards. Ms. Sun Yan, Executive President of the Promotion Association for Global Youth Innovation Leaders Community, noted that this was the first time a cross-regional sub-competition of the China International College Students' Innovation Competition was held. She emphasized that this marks a new chapter for the event and addresses the pressing need for enhanced regional collaboration. Associate Professor Zhang Ying, Vice President of Xiamen University Malaysia, stated that the university has long been committed to fostering students' innovation abilities, and hopes that this event will strengthen people-to-people friendship between China and Southeast Asia, while promoting economic exchange with Southeast Asian countries. Mr. Li Cheng, Deputy Director of the Academic Affairs Office at Xiamen University (China), delivered a speech on behalf of the university top management, emphasizing that the main campus and Malaysia campus will continue to deepen educational cooperation under the Belt and Road Initiative, promote science, technology, and talent exchange, and cultivate globally minded and innovative talent. The China International College Students' Innovation Competition is one of the world's largest student innovation and entrepreneurship competitions. Since its inception in 2015, the competition has attracted millions of teams and tens of millions of participants from thousands of universities in over 100 countries spanning five continents. The China–Malaysia Youth Innovation Competition, first launched in 2019, has now completed four successful editions. The event continues to garner strong participation from Malaysian students and has produced a number of notable outcomes. The launching ceremony of this year's competition took place on 25 April 2025, and was attended by Mr. Zheng Xuefang, Minister of the Chinese Embassy in Malaysia; Dato' Abdul Majid Ahmad Khan, President of the Malaysia-China Friendship Association; Professor Li Cheng, Deputy Director of Academic Affairs at Xiamen University; and Mr. Zhu Lei, Executive President of the Global Youth Innovation Leadership Community Association.
The Sun
6 hours ago
- The Sun
Malaysia sets sights on becoming Asean pharmaceutical and healthcare hub
KUALA LUMPUR: Malaysia is setting its sights on becoming a halal pharmaceutical and healthcare hub for Asean, leveraging partnerships with India's booming pharma sector as industry leaders prepare for the Second Malaysia Pharma and Healthcare Expo (MPHC 2025) in October. The expo, to be held at the World Trade Centre Kuala Lumpur from Oct 7 to 9, is expected to attract over 100 companies, up from 70 last year, alongside policymakers, researchers and investors across Asean, India, Australia and South Korea. Organisers say the event will spotlight innovations in halal-certified drugs, active pharmaceutical ingredients (APIs), biotech, regenerative medicine, telehealth and AI-driven diagnostics. Malaysia-India Business Council general secretary Datuk Surendran Menon said trade between Malaysia and India stood at US$20 billion (RM84.6 billion) in 2024, but pharmaceuticals made up just US$96–$104 million of that figure, a sign of significant untapped potential. 'India is known as the pharma of the world, while Malaysia offers halal regulation expertise and a strategic Asean strong potential in contract manufacturing, technology transfer and joint R&D, especially in halal pharmaceuticals and vaccines,' Surendran told reporters at a media briefing today. He said Malaysia imports over 70% of its pharmaceutical products, and the government's national pharmaceutical policy is pushing for greater domestic production, a move that could entice Indian firms seeking to expand into Asean markets. He also pointed to India's own 200 million-strong Muslim population as an untapped market for halal pharma products manufactured in Malaysia. 'Even if we tap just 50 million of that halal market in India, it's far larger than our domestic market here. Halal-certified medicines made in Malaysia could be exported not just across Asean but also back into India itself,' he said. This strategy, he added, would allow two-way investment flows, Indian companies bringing R&D and cost efficiencies to Malaysia, while Malaysian firms could set up manufacturing or joint ventures in India. Asean-India Economic Council chairman Datuk Ramesh Kodammal said Malaysia stands to benefit from India's US$50 billion pharmaceutical export industry, particularly as Asean and India review their free trade agreement, which has been in place for 11 years. 'If we work closely with India, we will have a lot of benefit,' he said, adding Malaysia has a great advantage of re-exporting with these Indian companies for the Asean market a huge market of 700 million people. Ramesh confirmed 40 Indian companies are slated to participate in MPHC 2025, alongside Asean, Australian and South Korean firms.
The Sun
7 hours ago
- The Sun
Israel to partially reopen Gaza private goods trade amid aid crisis
JERUSALEM: Israel will partially reopen private sector trade with Gaza to reduce dependence on humanitarian aid, the defence ministry's civil affairs agency COGAT announced on Tuesday. The move follows months of blockade and conflict with Hamas, which has left Gaza in dire need of basic supplies. 'As part of formulating the mechanism, a limited number of local merchants were approved by the defence establishment, subject to several criteria and strict security screening,' COGAT said. Israel imposed a total blockade on Gaza in March but partially lifted restrictions in May to allow a US-backed private agency to distribute food. Despite resumed aid convoys and airdrops by Arab and European nations, UN experts warn famine is spreading in the war-torn enclave. The new trade mechanism will permit food staples, fruit, vegetables, baby formula, and hygiene products. Deliveries will undergo military inspections to prevent Hamas involvement, with payments made via monitored bank transfers. COGAT reported over 300 aid trucks entered Gaza on Monday, more than recent days, though Hamas disputed the figures, claiming only 95 trucks arrived, many looted amid alleged Israeli-instigated chaos. The UN estimates 500-600 daily truckloads are needed to sustain Gaza's population. - AFP
