Hong Kong will step up efforts to tap into the growing global Halal economy as the city seeks to attract more Muslim tourists after welcoming nearly 500,000 visitors from Malaysia and Indonesia in the first eight months of the year, Financial Secretary Paul Chan Mo-po said on Monday.

Speaking at a forum on the global halal economy, Chan said the special administrative region will scale up its international promotion so that more Muslim travelers will discover what Hong Kong has to offer as it engages the global Muslim community.

“Tourism is an important pillar. Indeed, in the first eight months of this year, Hong Kong welcomed nearly 500,000 visitors from Indonesia and Malaysia, a 10 percent increase year-on-year,” Chan said at the forum organized by the Hong Kong General Chamber of Commerce and Federation of Hong Kong Industries.

He noted that Hong Kong now has over 190 Halal-certified restaurants and more than 60 Muslim-friendly hotels and attractions.

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The Hong Kong Tourism Board has also introduced funding programs to support Halal-certification processes and more dining options, Chan said.

“I’m also pleased to note that in August, the Federation of Hong Kong Industries and the Islamic Community Fund launched the Hong Kong Q-Mark Halal Scheme, which will further strengthen the service quality and recognition of restaurants,” he added.

Under the “one country, two systems” principle, the city serves as a trusted two-way platform for mainland and Hong Kong enterprises looking to expand into Muslim economies, and for investors and entrepreneurs from these economies to access opportunities in the mainland and beyond.

“Over the past three years, the Chief Executive, my colleagues and I have led a number of high-level delegations to the Middle East as well as Indonesia and Malaysia,” Chan said.

“From my own experience, I am encouraged by their strong recognition of the ‘Hong Kong’ brand, which is widely seen as a symbol of quality, good value and professionalism,” he added.

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Chan said a new Economic and Trade Office will open in Kuala Lumpur later this year, and the SAR government is also pressing ahead with the plan to establish another office in Riyadh.

And as a leading international financial center, Hong Kong is also well positioned to support the growth of Islamic finance and cross-border financial products.

“We already have the legal and regulatory frameworks in place to support Sharia-compliant instruments like sukuk. To date, the HKSAR government has issued over US$3 billion in sukuk,” Chan said.

“The path ahead is clear: To deepen engagement, to build new partnerships and friendships, and to co-create high-quality products and services that cater to the needs of the Muslim communities,” he added.