The momentum of economic cooperation between Hong Kong and Central Asia continues to build, as evidenced by the Alatau City Investment Round Table held in Hong Kong on June 11. The event, organized by the Alatau City Authority of Kazakhstan, came on the heels of a successful visit to Kazakhstan and Uzbekistan by a business delegation led by Hong Kong Chief Executive John Lee from June 1 to 5. The roundtable brought together government officials, business leaders, and investors to explore opportunities in Alatau City, a new greenfield project near Almaty, focusing on sectors such as fintech, low-altitude economy, smart city development, and infrastructure.
The roundtable was attended by Chief Executive John Lee and Kazakhstan’s Deputy Prime Minister Kanat Bozumbayev, along with representatives from leading enterprises, financial institutions, and investors from Kazakhstan, the Chinese Mainland, and Hong Kong. In his remarks, Lee emphasized Hong Kong’s unique position under the "one country, two systems" principle, stating, "Hong Kong shares your commitment to openness and connectivity. Under the unique 'one country, two systems' principle, we are the only world city to combine the China advantage and the global advantage."
The event highlighted the importance of the Central Asia visit, which resulted in 96 memoranda of understanding (MoUs) and agreements. Of these, the business delegation signed 66 MoUs covering trade, investment, finance, technology, and aviation. Additionally, 15 cooperation agreements were signed at the government level, and 15 MoUs were signed by non-delegation members in areas including academia and culture. These outcomes have laid a solid foundation for deeper economic and trade ties between Hong Kong, the Chinese Mainland, Kazakhstan, and Uzbekistan.
A key development at the roundtable was the signing of a Memorandum of Understanding (MoU) between Templewater Limited, a business delegate from the Central Asia mission, and DASCO Capital to explore the establishment of a fund supporting the future development of Kazakhstan and the Alatau City Project. This deal underscores the tangible outcomes emerging from the strengthened bilateral relations.
The Hong Kong Trade Development Council (HKTDC), which organized the Central Asia visit, played a pivotal role in the roundtable. Silas Chu, Director of Exhibitions and Digital Business of HKTDC, noted the council’s longstanding commitment to the Central Asian market, with an Almaty consultant office opened in 2018. He highlighted HKTDC’s role in promoting Hong Kong as an international business platform through events like the Belt and Road Summit and InnoEX.
The implications of this roundtable are significant for businesses and investors. Alatau City represents a major opportunity for companies in fintech, smart city solutions, and infrastructure development. The event signals Kazakhstan’s openness to international partnerships and Hong Kong’s role as a gateway for Chinese Mainland enterprises to expand into Central Asia. For the broader Belt and Road Initiative, this collaboration deepens economic integration along the route, potentially unlocking new markets and investment channels.
The HKTDC will continue to follow up on key projects from the visit, providing professional business matching and support services to facilitate implementation. Through major conferences, business missions, and outreach initiatives, the council aims to promote collaboration between enterprises from Hong Kong and the Chinese Mainland and Belt and Road markets, enabling them to seize vast business opportunities.
