KUALA LUMPUR, Apr 25 (Bernama) -- Hong Kong should consider making Malaysia
its financial hub in the Asean region given its positive attributes, says Deputy
Finance Minister Senator Datuk Donald Lim Siang Chai.
He said Malaysia had created a conducive environment for foreign investors
with some of its reforms aimed at improving the efficiency of government and
creating a safe destination for foreign investment.
"Hong Kong plays a unique role in the global financial market, facilitating
the free-flow of financial capital in a stable business environment. It is also
the gateway to mainland China," Lim said in his luncheon speech on financial
cooperation between Hong Kong and Malaysia.
Meanwhile, John C.Tsang, Financial Secretary, Hong Kong Special
Administrative Region government, said the future was bright for even closer
business and economic collaboration between both countries.
"While there may inevitably be an element of competition for Islamic Finance
in Asia, I believe that the most significant opportunities will come from our
collaboration in establishing a dual-hub for Islamic Finance.
"This way Hong Kong and Malaysia can make the most of their respective
advantages," Tsang said at the luncheon.
Last month, Hong Kong launched a consultation exercise on the proposed
legislative amendments to pave the way for the development of an Islamic bond
market in Hong Kong.
CL CL VMD