GCC countries offer friendly policies, and Oman is ideal for industries: HK

Muscat: Hong Kong is keen to invest and work together with the GCC countries, including the Sultanate of Oman, with a particular focus on alternative energy.

Speaking to the Observer, Alpha Lau, Director-General of Investment at Invest Hong Kong, said there are many friendly policies for Chinese companies to invest in these markets.

On the sidelines of the FinTech Week x StartmeupHK Festival, she added that as Middle East countries want to set up more industries and train the national workforce, there are opportunities to work together.

King Leung, head of fintech and sustainability, said, 'Oman is a great location for manufacturing, and we want to encourage mainland Chinese companies to come to set up international headquarters in HK and launch global business in markets like the GCC.'

The summit speakers highlighted that approximately 75% of Hong Kong’s financial institutions have already either adopted or piloted generative AI, with hopes to increase this to over 87% within three to five years.

It predicted widespread Gen AI adoption in the near future, from customer-facing AI account managers to increased tokenisation for real-time global settlements.

Leaders from HSBC and Standard Chartered highlighted Hong Kong’s financial innovation, from tokenised deposits and one of the world’s largest tokenised gold products to successful blockchain settlements. Meanwhile, the city’s “Connect” schemes continue to expand into regions like the Middle East and Southeast Asia, reinforcing confidence in Hong Kong’s position as a leading international financial centre and fintech hub.

Market experts also discussed the popularity of stablecoins in the market and how they could be used to facilitate 24/7 trading and collateralisation, improving efficiency for businesses such as asset management. They echoed the benefits of stablecoins for efficient, 24/7 trading and access to on-chain assets, but stressed the importance of regulatory compliance.

Moreover, for multinational institutions and corporates to embrace technology such as blockchain and stablecoins, there will always be the challenge of interoperability.

Looking towards 2026, liquidity is almost certainly expected to grow in the digital assets market, powered by various developments in digital money