Belt & Road Summit sees record MoUs, US$3.1bn in deals

The Belt and Road Summit held in Hong Kong over the past two days saw a record 60 memorandums of understanding (MoU) signed, with a combined deal value of US$3.1 billion, marking a threefold increase from last year, according to the city's Belt and Road Commissioner Nicholas Ho. The 11th edition of the summit attracted a more diverse group of foreign government speakers compared to previous years, including the Prime Minister of Uzbekistan, the Vice President of Uruguay, and ministers from South Asia, Latin America, Eastern Europe, and North Africa.

Ho credited the strong Central Asian presence at the summit to a delegation visit by the chief executive to the region in June, which resulted in 96 MoUs worth US$1.65 billion. Subsequently, a Kazakh state-owned company filed to list in Hong Kong, and Kazakh institutions have issued dim sum bonds worth 7.2 billion yuan, double the amount from the previous year.

Ho stated that his office is working to invite officials from various parts of the world, aiming to expand the country coverage beyond just ASEAN, the Middle East, and Central Asia, by including South Asia, Latin America, Eastern Europe, and North Africa. He expressed optimism about the diversity of the summit this year and the government's commitment to deepening ties with ASEAN, the Middle East, Central Asia, as well as exploring opportunities in South Asia, West Asia, and North Africa.