Moscow Economy Conference Hong Kong 2017
For the first time, in light of the highly collaborative and mutually united relationship between Russia and Hong-Kong, the 2017 Moscow Economy Conference titled "Moscow - a city of investment opportunities was held at Peninsula Hong Kong on 30th March 2017.
Over a hundred representatives from Russian and Hong Kong business and public sector turned up for the conference.
Distinguished speakers at the conference included:
· Minister of the Government of Moscow, Head of the Department of Foreign Economic and International Relations of Moscow ChereminSergey.
· Deputy Minister for Innovation and Technology of the Government of Hong Kong Dr. David Chung
· General Director of "Special Economic Zones” JSC Milyavsky Vitaliy
· Deputy Director of the Planning Department of the Government of Hong Kong Lee Phyllis
· Director for Investments in "Inventis Investment Holding” Ng Kenny
· President of "Russian-Asian Business Union” Sheremetyeva Tatiana .
The presenters broached current issues regarding international cooperation between Moscow and Hong Kong across various sectors. The presentations emphasized on mutually beneficial cooperation between the two great cities and the investment and economic capabilities of Russia. The main driving forces behind Hong Kong's global economic development in the coming decades was explored as well.
The Minister of the Government of Moscow Cheremin S.Е. spoke about Moscow’s investment potential and congenial economic climate and the prospects for the building and bridging cooperation. He addressed the intention of the Moscow Government to turn Russia’s capital into a world-class metropolis with a highly-developed tourism industry with a modernized transportation infrastructure.
He also discussed the current plans being executed to create economically efficient industries in Moscow which will produce competitive and technologically advanced products. The consistent influx of foreign investments in Moscow proves the Moscow authorities are successfully breaking through to become an economic success.
Dr. Chung stated that Hong Kong is perfect place for innovations implementation. He supported his statement by presenting various arguments, evidence and research information from High-tech infrastructures, world-class research centers, qualified specialists and scientific developments in the Chinese and Asian markets. The Hong Kong developmental sectors provide a wide range of grants and sponsorship through financial and education assistance for the research and development communities. The Hong Kong government pays special attention to developing the achievements of the innovation processes in the open commercial market.
Milyavsky V.V. brought attention to issues of localizing of production in the territory of the SEZ RF.
He spoke about special economic industrial-production zones which are huge areas of land focused on production of a large number of certain groups of goods. These areas are "Alabuga" (Republic of Tatarstan), SEZ "Dubna" (Moscow region), "Titanium Valley" (Sverdlovsk region), TP "Ulyanovsk". These areas form alliances with the government to perform tasks such as creating a large number of new jobs for qualified individuals, attracting foreign capital to the country, encouraging domestic producers to invest and developing and supporting domestic production.
Lee Phyllis spoke on the topic: "Hong Kong 2030+: Concept and development strategy 2030". Ms. Lee noted that the Hong Kong economy is developing very rapidly and being situated in the epicenter of the economic activity of the East, has become one of the most prosperous regions of the world. The "ideal capitalism" model, which Hong Kong introduced many years ago, proved to be highly suitable catalyst for a successful existence and will soon allow Hong Kong to become the global financial center of the planet.
Mr. Kenny Ng pointed out that Russia's investment opportunities are very attractive for foreign funds. Russia has grown to be a favorable nation state for businesses and investments. Russia is ever ready to cooperate with major world investors.
Speaking about trade and investment cooperation between the two sides, Sheremetyeva T.A. said that recently relations between Russia and Hong Kong have reached a new level of intensity with positive and prosperous interactions. The growth of investment activities between the two economies is expected due to signing an Agreement on avoidance of double taxation and prevention of tax evasion (Comprehensive Double Taxation Agreement). This agreement reduces the tax burden on both sides and increases investments by making it beneficial and attractive for investors.
Participants representing both Hong Kong and Russia stressed the importance of Russia's interaction with China at the regional level.
As a result, an event to follow up and further explore the cooperation between Moscow and Hong Kong has been planned and scheduled to be signed during the Eastern Economic Forum in September 2017 in Vladivostok.
Also, the both parties proposed the initiative to hold "Days of Moscow” in November 2017 in Beijing and the "Days of Moscow's Economy” in Shanghai. Both sides were satisfied with the results of the conference, and showed serious interest in furthering mutually rewarding cooperation.