Representatives from foreign business chambers expressed support for Hong Kong’s newly unveiled five-year plan but emphasized the need for clearer timelines and tangible progress on the Northern Metropolis development to attract further investment. The feedback was shared during a briefing held by Chief Executive John Lee Ka-chiu, who met with consuls general and heads of foreign chambers of commerce from the United States, United Kingdom, Australia, and the European Union.

Lee underscored that the five-year plan, covering 2026 to 2030, is not intended as a rigid economic directive but as a flexible policy framework blending government guidance with market mechanisms. “It is a planning process which combines government policy with market forces, allowing everybody to find the best way to achieve the target with the best results and allowing flexibility in the process,” he said.

Chamber representatives welcomed the plan’s provision of policy certainty, which they said aligns well with the typical three- to five-year horizons of corporate strategic planning. Mary Simpson, chief executive of the Australian Chamber of Commerce in Hong Kong, said the plan clearly identifies where and when resources will be allocated, giving businesses confidence to invest and expand in the city. She also noted that the blueprint leverages Hong Kong’s established strengths in finance, law, and logistics, while promoting growth in emerging sectors such as artificial intelligence, green technology, and critical minerals.

Johannes Hack, chairman of the European Chamber of Commerce in Hong Kong, described the five-year plan as a practical tool for signaling the city’s development direction to overseas investors. Having recently returned from outreach missions in Brussels and Strasbourg, he said the focus on Hong Kong’s role as a gateway for mainland Chinese companies seeking to expand globally resonates with investors in Europe and Australia. Hack highlighted opportunities for European firms to advise Chinese small and medium enterprises on overseas investments through Hong Kong’s financial platforms.

A key theme raised by foreign business leaders was the importance of visible progress on the Northern Metropolis, a 30,000-hectare megaproject intended to support technology parks, university campuses, and up to 186,000 new homes. While the project is a top priority under the plan, representatives stressed the need for concrete milestones and clear development schedules to draw international capital.

Simpson pointed out that Australian companies in medical technology, infrastructure, and logistics were interested in tapping into Hong Kong’s capital markets but required assurance on project timelines and cross-boundary collaboration before committing funds. “They want to know that their infrastructure follows certain timelines, that where the precincts are focused, how there is cross-boundary collaboration, where that will all actually work in practice,” she said.

Hack noted that few European companies are yet familiar with the Northern Metropolis and cautioned that key performance indicators alone are insufficient to attract investors. He advocated for a compelling narrative featuring concrete achievements, such as a novel drug developed in the area with Greater Bay Area participation, to raise the project’s profile internationally.

Paul McComb, executive director of the British Chamber of Commerce in Hong Kong, welcomed the government’s proactive stance in addressing challenges linked to the Northern Metropolis, describing the “whatever it takes” attitude as encouraging. He viewed the gradual onboarding of businesses into the proposed technology parks as a positive sign of the project’s potential success.

Beyond the Northern Metropolis, the five-year plan also aims to reinforce Hong Kong’s position as an international hub for finance and innovation and to deepen integration within the Greater Bay Area economic region, signaling the city’s commitment to sustaining its global economic relevance amid evolving regional dynamics.