Media365
Escalating tensions in the Middle East could strengthen Hong Kong’s ambitions to become a global family office hub and gold trading centre, as wealthy investors reconsider their exposure to the region, industry figures say.
“The war in the Middle East could benefit Hong Kong because wealthy individuals in the region may want to move part of their investments outside the conflict zone,” said Kenny Tang Sing-hing, chairman of the Hong Kong Institute of Financial Analysts and Professional Commentators.
“Hong Kong is a natural choice for wealthy Middle Eastern and international investors who previously allocated funds to Dubai, given our deep capital markets, free flow of capital and strong regulatory framework,” Tang said.
“With no war here, Hong Kong remains a safe market for high-net-worth investors looking to invest in gold and other wealth products.”
The geopolitical tensions come just days after Financial Secretary Paul Chan Mo-po outlined plans in his budget to develop Hong Kong into an international gold trading centre.
The government said it would introduce measures including tax incentives, expanded gold storage capacity and the development of a broader gold trading and clearing system.
