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Hong Kong
OpinionComment
Quentin Parker
Quentin Parker

Opinion | To win over global talent, Hong Kong must show its freedoms aren’t lost

  • While concerns about Covid-19 and social unrest have largely eased, negative reports persist around the world about the city’s freedoms and judicial independence
  • Rather than wait for a return to the good old days, officials must work hard to ease the fears of those considering a move here

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Participants in the Greater Bay Area Healthcare Talents Visiting Programme arrive at West Kowloon Station on April 17. Persistent concerns about Hong Kong’s press freedom, judicial independence, cost of living and the national security law have held back efforts to draw urgently needed talent from places other than the mainland. Photo: Jelly Tse
Quentin Parker
Much has been made concerning the dearth of talent coming to Hong Kong after the exodus following years of social unrest, the Covid-19 pandemic and negative perceptions about what Hong Kong has become. This triple whammy of bad headlines has percolated around the world.
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We were a beacon of free trade, stability and liberal values. The city sat well with large numbers of high-quality expatriates who came to Hong Kong to answer the call for top-tier talent.

The first two issues have largely passed into history, and harmony has returned to the city, but negative perceptions linger. This is an ongoing push factor despite many strong pull factors remaining: a globally significant fintech sector, robust economy, strong regulatory and compliance infrastructure, world-leading universities, and vibrant nightlife.
Even given these advantages, a replacement influx remains elusive. Our global city needs global talent, today – even if our overall population has edged up 2.1 per cent in a year, thanks to the border reopening and largely mainland response to talent schemes.

So, what can Hong Kong do to get back its mojo, restore faith and regain its place at the top of the class in business, banking, fintech, investment and its other strengths?

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There is no reason to be passive and just hope things will return to the “good old days”; we can be proactive. Competitors such as Singapore are providing incentives for talent recruitment, and we should do so too. Half measures yield less than a glass half full. A revitalised government committee could focus on this issue while ensuring key sectors’ voices are heard.
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