Maritime Institute of Malaysia (MIMA)

The recipe for success of Hong Kong as a global maritime centre includes key ingredients such as strategic location; free flow of capital, goods and information; liberal tax policies; excellent infrastructures and supporting services; strong institutional framework; and the pragmatic and supportive approach by the regulators in attracting investments and facilitating business.

This was unravelled during a seminar themed 'Hong Kong - Your Partner for Success in the Maritime World' held in Kuala Lumpur on 29 June 2010. This seminar was part of the Hong Kong shipping mission to Malaysia to promote the city as an international maritime centre and a premier hub port.

The delegation, led by Hong Kong Secretary for Transport and Housing, Ms. Eva Cheng, comprised members of Hong Kong's Maritime Industry Council (MIC), Port Development Council (PDC), Transport Constituency Legislator, Ms. Miriam Lau, and industry leaders. The seminar was organised by MIC, and PDC; co-organised by Hong Kong Trade Development Council (HKTDC), Hong Kong International Arbitration Centre, and Hong Kong Exchanges & Clearing Limited (HKEx); and supported by MIMA and Malaysian Shipowners' Association (MASA).  Nazery Khalid, Senior Fellow, MIMA, moderated the seminar that was attended by over 150 participants from various industries and government agencies.

The half-day seminar featured a panel of speakers from Hong Kong who introduced the city's strengths in different areas of the maritime industry. Among the topics presented were:

In delivering her opening remarks, Ms. Miriam Lau mentioned that Hong Kong and Malaysia have been trading partners for many years and pointed out that Hong Kong is Malaysia's sixth largest trading partner. She urged for the need to foster closer and stronger ties between the two countries. She said Hong Kong currently contributes 8% of the world's merchant fleet by deadweight tonnes, and is home to a vibrant maritime cluster featuring a host of shipping-related activities which include ship management, ship owning and operation, ship broking, ship financing, marine insurance, legal services, ship registration and ship survey, to name a few.  Ms. Lau welcomes Malaysian shipping companies and traders to capitalise on Hong Kong's maritime strengths and features to boost maritime trade and economic growth.

Hong Kong industry practitioners shared with the participants their successful experience on the maritime industry and provided valuable information on the benefits as well as opportunities of investing in the city.

Following the seminar, Ms. Eva Cheng delivered a luncheon talk in which she spelled out the stranegth of Hong Kong as a maritime, financial, trade and logistics hub and the advantages of partnering with Hong Kong in developing maritime businesses. With the depth and breadth of Hong Kong's maritime services, together with its strategic geographical location in the heart of Asia, Hong Kong is well poised to solidify its position as an international maritime centre of excellence and to reap the opportunities of the economic growth of China and growing intra-Asian maritime trade. In welcoming Malaysian investors, traders and maritime related companies to Hong Kong, Ms. Cheng assured that they will enjoy a liberal and business- friendly environment and efficient infrastructures.

In attaining its ambition to become a globally competitive nation, Malaysia would do well to take a leaf from Hong Kong's success and, wherever practical, emulate its dedication to efficiency and efforts to encourage investment, trade and business.