Hong Kong General Chamber of Commerce (HKGCC) and Industries, Commerce & Investment Department Punjab (ICID) have signed a memorandum of understanding (MoU) to establish a framework for enhanced cooperation in trade, investment and economic collaboration. The signing ceremony was held at the HKGCC office. Agnes Chan, Chairman of HKGCC, and Chaudhry Shafay Hussain, Minister for Industries, Commerce & Investment, Punjab, signed the document on behalf of their respective sides,Gwadar Pro reported on Friday.

The MoU aims to generate mutual benefits for the business communities in HKSAR and Punjab by leveraging the incentives offered by the Government of Punjab, while further strengthening Hong Kong’s role as a “super-connector.” Under the agreement, both sides will facilitate business opportunities, exchange key market intelligence and jointly organize trade promotion initiatives.

Chaudhry Shafay Hussain said that an increasing number of international companies are setting up industrial units in Punjab, where tax holidays, leased land in industrial zones and low-cost labour are available. He noted that foreign investment is not only creating employment opportunities but also facilitating the transfer of advanced technologies to the province.

“This collaboration with HKGCC is an important development in attracting investment, promoting our exports and strengthening people-to-people ties, which will bring shared prosperity to both Hong Kong and Punjab,” he said. Agnes Chan said the Chamber’s mission is to open doors for its members.

“This MoU will provide a direct channel to explore new opportunities, foster mutual understanding and drive growth between our two economies,” she said.

Credit: Independent News Pakistan (INP) — Pak-China