Editorial | Frederick Ma is right man to lead the TDC in Hong Kong
Former commerce chief has the experience and expertise to keep Hong Kong Kong’s Trade Development Council relevant in an increasingly complex world
Buffeted by geopolitical headwinds, many companies around the world have recently been placing great stock in taking a “long view”. It is good to see the new chairman of Hong Kong’s trade promotion body outlining a course that reflects a solid vision, mixing longer-term strategy with plans to achieve more immediate goals.
Hong Kong Trade Development Council chairman Frederick Ma Si-hang took office on June 1, and only days into his tenure, he was urging local businesses to capitalise on global uncertainties. He said Hong Kong companies should not see the US-China tariff war as “the end of the world”. He is also taking a hard look at the 59-year-old statutory body and its network of 51 offices around the world. Ma said the council would explore adding more branches, including an office in Peru where the city recently struck a new free-trade deal. Ma’s experience as a former commerce chief will hopefully be an asset.
Highlighting a need to “reposition our global presence”, he acknowledged that uncertainties would be a constant as long as US President Donald Trump stayed in office. It was good to hear Ma call for Hong Kong to turn crisis into opportunity by playing to its unique advantages, including its roles as a free-trade port, international financial centre and “superconnector” bridging mainland Chinese and international markets.
Ma takes up the role just vacated by Peter Lam Kin-ngok, who is returning to the Tourism Board as chairman. Margaret Fong Shun-man, executive director of the council, is also set to retire by the end of this year. Ma said events the council organised should take more cues from current affairs, and even the annual flagship Asian Financial Forum may be rebranded to include more industry elements. Small and medium-sized enterprises are rightly being offered assurances of continued council help in areas like digitalisation and supply chain optimisation. But Ma said he would also push firms to expand into new markets.
The suggestions outlined so far are welcome signs that the new chairman is well aware of the realities of geopolitics and the need for the council to adapt in ways that can help the city’s businesses rise to new challenges.