Helping Hong Kong businesses transform to embrace new opportunities
HONG KONG, Mar 18, 2025 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) and DBS Bank (Hong Kong) Limited (DBS Hong Kong) recently co-organised a T-box Workshop on Navigating ASEAN Business Opportunities to showcase the vast potential of the ASEAN market to small and medium-sized enterprises (SMEs), and to help them further expand their international business footprint. ASEAN is the third-largest economy in Asia and the fifth largest globally, following the United States, China, Japan, and Germany, and holds significant economic influence and abundant business opportunities.
As the second largest trading region since 2010, bilateral trade between Hong Kong and ASEAN reached USD145 billion in 2023, accounting for 12.8% of Hong Kong’s total global trade. The key focus of the workshop was to show Hong Kong SMEs how they could explore business opportunities in ASEAN.
Cherry Lee, Associate Director, Marketing & Customer Service, Corporate Communications & Marketing, HKTDC, said: “Inevitably, businesses encounter issues associated with entering new markets including those in ASEAN. As Hong Kong SMEs have limited resources to tackle these challenges HKTDC helps by providing free support services from over 50 offices worldwide. Since the launch of T-box in April 2020, more than 4,700 Hong Kong companies have participated and gained assistance including branding, digital transformation, manufacturing and supply chain solutions, new market exploration, and sustainability transformation to achieve business and transformation goals.”
T-box programme is offered free of charge and is open to all Hong Kong registered companies. Dedicated T-box staff work with corporates to identify their goals and provide support, with group and tailored services including advisory services, workshops, government-funding information, market knowledge and networking opportunities.
Lareina Wang, Managing Director and Head of SME Banking, DBS Bank (Hong Kong) Limited, said: “The ASEAN market presents abundant business opportunities. Our survey reveals that over half of Hong Kong SMEs view expanding into new Asian markets as a key business priority, with particular focus on Singapore, Indonesia, Malaysia, and Vietnam. As Southeast Asia’s largest bank with deep roots in Asia and extensive market knowledge, DBS is committed to supporting SMEs in entering ASEAN and achieving sustainable growth through efficient banking solutions, professional advisory services, extensive networks, and market insights.”
SMEs are the pillars of Hong Kong’s economy, but they often face challenges in managing operational costs, maintaining cash flow, and expanding into Asian markets. Leveraging its strong network in Asia and leading digital technology, DBS Hong Kong provides tailored banking solutions and competitive financing options for SMEs, thereby enhancing their businesses resilience and growth, and driving the development of Hong Kong’s business ecosystem.
T-box Workshop on Navigating ASEAN Business Opportunities invited several ASEAN market experts to share insights. The session began with Galvin Chia, HKTDC Principal Economist, Asian and Emerging Markets Research Team, who provided an overview of the ASEAN market and its opportunities.
During the discussion panel, Billy Cheung, Executive Director, Hong Kong Foreign Trade eCommerce Association shared tips to SMEs about how to leverage e-commerce platforms to enter new markets. Crystal Yuen, Head of Documentary Trade Product Management, DBS Bank (Hong Kong) Limited discussed how banks or related institutions can support SMEs in entering new markets through trade finance. Finally, Eugene Yeung, Tax Partner, KPMG China, provided tax strategies and advice for SMEs to avoid tax risks while effectively utilising tax incentives to expand their business.
In a rapidly changing global economy, all sectors in Hong Kong, whether large enterprises or SMEs, need to continuously upgrade and transform, striving to explore new markets and seek avenues for business growth while embracing new opportunities. T-box regularly organises workshops and online seminars on various topics, inviting industry leaders and professionals to provide practical information on branding, digital transformation, manufacturing and supply chain solutions, new market exploration, and sustainability transformation, helping enterprises strengthen their competitive advantage. Through this workshop, participants opened up new horizons for business development and seize the immense potential of the ASEAN market. The successful hosting of this seminar also highlights the support and commitment of HKTDC and DBS Hong Kong to SMEs
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