The head of Invest Hong Kong (InvestHK), the government department responsible for foreign direct investment, embarked on Saturday on a series of visits to three major economies in Central Asia participating in the Belt and Road Initiative to promote ties and explore new areas of cooperation.

Alpha Lau Hai-suen, director-general of Investment Promotion at InvestHK, was scheduled to visit Kazakhstan, Kyrgyzstan and Uzbekistan from Oct 18 to 25 to deepen Hong Kong's partnership with key economies in the region and promote the city as a strategic gateway for Central Asian firms to gain access to the Chinese mainland and Asian markets.

"The three Central Asian countries, situated at the heart of the Eurasian continent, are crucial hubs of the Belt and Road Initiative. Their abundant natural resources, ongoing economic reforms, and vast market potential are unleashing strong growth momentum," Lau said.

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"As a leading international financial and business hub, coupled with the synergistic effects of the Greater Bay Area, Hong Kong is committed to becoming a strategic gateway for Central Asian enterprises to access the Chinese mainland and Asian markets."

Lau said the special administrative region’s sound regulatory framework, simple and low tax regime, and deep international talent pool can provide diversified financing channels for Central Asia's infrastructure and development projects.

Hong Kong’s professional services ecosystem can also empower local enterprises in their transformation and international expansion, she added.

"I look forward to engaging in in-depth exchanges with local government officials, institutional representatives, and entrepreneurs during this visit to jointly explore concrete co-operation projects in areas such as fintech, sustainable development, trade, and logistics, to achieve mutual benefits," Lau said.

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During the visit, Lau will meet with government departments, financial regulators, stock exchanges, chambers of commerce, banks, and business leaders from sectors including finance, innovation and technology, and trade to explore tangible cooperation opportunities and promote Hong Kong's unique business advantages.

Economic and trade ties between Hong Kong and Central Asia are growing increasingly close while showing immense potential. In 2023, the total merchandise trade between Hong Kong and the region grew by over 50 percent year-on-year, reaching over $1.7 billion.

Among them, Uzbekistan and Kazakhstan are the SAR's key trading partners in the region, with bilateral trade in 2023 reaching $1.39 billion and $300 million, respectively.

Meanwhile, trade between Hong Kong and Kyrgyzstan recorded significant growth in the first three quarters of 2024, with exports growing by more than 1.5 times year-on-year and imports surging by more than five times.