John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), speaks while visiting Zain Group, a major mobile telecommunications company in Kuwait City, Kuwait, May 14, 2025. (Information Services Department of the Government of the HKSAR/Handout via Xinhua)
KUWAIT CITY, May 14 (Xinhua) -- Kuwait and China's Hong Kong Special Administrative Region (HKSAR) signed an agreement on Tuesday to promote and protect investment, while also discussing ways to enhance cooperation in economic, investment, cultural, and scientific fields.
In a press release received by Xinhua, HKSAR Chief Executive John Lee announced the signing of the Investment Promotion and Protection Agreement with Kuwait, noting that Kuwait is the first country within the Gulf Cooperation Council (GCC) to sign both an Investment Promotion and Protection Agreement and a Comprehensive Avoidance of Double Taxation Agreement with Hong Kong, establishing a solid framework for economic and trade cooperation.
He highlighted Kuwait's active efforts in recent years to diversify its economy, including the launch of its National Vision 2035, aimed at driving digital transformation and positioning the country as a regional and international financial and commercial hub.
He said Hong Kong, as a global financial and trade center with world-class professional services, is well-positioned to support Kuwait's ambitions.
Lee emphasized that there is significant potential for cooperation between Kuwait and Hong Kong in areas such as finance, investment, the digital economy, and innovation and technology. ■
John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), meets with representatives of the Kuwait Direct Investment Promotion Authority in Kuwait City, Kuwait, May 14, 2025. (Information Services Department of the Government of the HKSAR/Handout via Xinhua)
