Hong Kong tycoons not obliged to invest in Northern Metropolis, Eric Chan says

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Hong Kong tycoons not obliged to invest in Northern Metropolis, Eric Chan says

//business-finance.news-articles.net/content/202 .. nvest-in-northern-metropolis-eric-chan-says.html

Published in Business and Finance on Wednesday, November 27th 2024 at 8:00 GMT by Bill Williamson
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Chief Secretary Eric Chan heads delegation with tycoons to Guangdong cities, says trip "purely an introduction and opportunity for exchange".

Hong Kong's Financial Secretary, Paul Chan Mo-po, has stated that the city's tycoons are not obligated to invest in the Northern Metropolis development project, which aims to transform the northern part of Hong Kong into a new economic zone. During a media session at the World Economic Forum in Davos, Chan emphasized that while the government welcomes investments from all sectors, there is no compulsion for business leaders to participate. He highlighted that the project's success does not hinge on the involvement of any specific individuals or companies, and that the government is open to investments from around the world. This stance comes amidst discussions on how to fund the massive HK$580 billion (US$74 billion) project, with suggestions that private sector involvement could be key to its realization.

Read the Full scmp.com Article at [ https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288401/hong-kongs-no-2-official-says-citys-tycoons-not-obliged-invest-northern-metropolis ]