Hong Kong’s Financial Secretary, Paul Chan Mo-po, has embarked on a mission to showcase the city’s fundraising potential to Indonesian businesses, advocating for Hong Kong as an advantageous destination for initial public offerings (IPOs) and treasury centers. Arriving in Jakarta with a delegation of over 100 business leaders, Chan emphasized the need for Indonesian firms to tap into Hong Kong’s robust capital markets during the recent “Think Business: Think Hong Kong” symposium, organized by the Hong Kong Trade and Development Council (HKTDC).

Chan conveyed that Hong Kong’s unique geographical positioning and the depth of its stock exchange render it an attractive hub for capital-raising activities. He stated, “Indonesian companies listed on the Hong Kong exchange will be able to tap into both international and mainland capital,” offering significant benefits for firms aiming to support infrastructure projects aligned with Indonesia's ambitious 2045 development goals. The finance minister noted that “these fundraising options are there for you to explore … to service your needs.”

Indonesia stands as Southeast Asia's largest economy and is currently experiencing a rapid evolution in its business landscape, thanks to its burgeoning middle class and favorable demographic trends. Chan highlighted that amid rising geopolitical tensions, companies are diversifying their operations, creating an opportunity for Hong Kong to provide professional management and corporate treasury services. “Hong Kong can play a strategic role in supporting Indonesia’s economic growth,” he remarked.

Despite the promise, executives from the Indonesian business community expressed caution regarding the unfamiliarity with Hong Kong’s financial ecosystem. Brian Chan Pak-lam, vice-president of the Indonesia Chamber of Commerce in Hong Kong, pointed out that “very few” Indonesian enterprises are currently keen to invest in Hong Kong. He indicated that many companies, especially medium-sized ones, either lack knowledge about Hong Kong or opt for alternatives like Singapore, which is perceived as more familiar territory.

In support of Chan’s outreach efforts, other business leaders accompanying him, including Asia Financial Holdings chairman Bernard Chan and Swire Pacific chairman Guy Bradley, shared similar sentiments. They stressed the importance of enhancing economic ties and promoting Hong Kong’s business advantages. Bradley emphasized that, “Everybody stands to benefit when we strengthen economic ties between Hong Kong and Indonesia.”

In an opportune development, Hong Kong is stepping up its efforts to bolster its capital markets amid a backdrop of challenging economic conditions. The visit by Chan follows recent initiatives by Hong Kong’s government to foster better connections with Indonesian counterparts, and he assured business elites that the city is prepared to support their growth aspirations.

As part of the three-day program, members of Chan's business delegation, particularly from the tech sector, will remain in Indonesia to engage with local officials, propose collaboration opportunities, and seek partnerships with venture capitalists. “When local firms look for innovative solutions, we hope that at least we put Hong Kong on the radar,” commented Chan, reaffirming the city’s commitment to fostering international business relationships.

This outreach to Indonesia comes as the country continues to adapt its economic strategies and engage with global markets, aiming for enhanced cooperation in trade and finance.

For further insights on Chan’s visit and the importance of Hong Kong to Indonesian companies, visit the original articles from SCMP, SCMP, and SCMP.