New president of AmCham in Hong Kong calls for city to reopen borders, restore confidence in ‘one country, two systems’
- Eden Woon says Hong Kong has become enveloped by pessimism and anxiety due to coronavirus curbs, Beijing-imposed national security law
- ‘Hong Kong should be ahead of other Asian cities,’ business leader says as he urges authorities to restore confidence in ‘one country, two systems’ by opening up to world
Hong Kong can rejuvenate its economy and retain talent by fully reopening its borders so businesses can reconnect with the world, while also offering assurances the city’s high degree of autonomy remains vibrant and intact, the new head of the American Chamber of Commerce (AmCham) has said.
In an exclusive interview with the Post, veteran business leader and academic Eden Woon Yi-teng urged the government to tackle the city’s falling competitiveness, warning a bleak mood had enveloped residents, the result of tough measures enacted to combat Covid-19 and uncertainty over the future following the imposition of a national security law by Beijing.
“Hong Kong should be ahead of other Asian cities. But now there’s a feeling that we’re falling behind and being left isolated. That’s also built on the pessimism,” said the 75-year-old Woon, who succeeded Tara Joseph as president this month. “There are people leaving and the problems of retaining talent. All these things add up together and need to be addressed.”
An AmCham survey released in January found 53 per cent of its 262 members had considered leaving Hong Kong for personal reasons related to the pandemic curbs, while 10 per cent said they were unlikely to go and another 36 per cent remained neutral over the question of relocating.
Woon, a former vice-president for institutional advancement at the Hong Kong University of Science and Technology, argued the pandemic and resulting travel curbs had fuelled an exodus from Hong Kong, especially of expatriates, and weakened the economy.
“Covid is causing a lot of problems for [commercial] activities and making business travel really not possible,” he said. “All these problems have resulted in people leaving. That has definitely threatened Hong Kong’s competitiveness and its status as an international business city.”
The government should also bolster confidence in the high degree of autonomy that Hong Kong enjoyed under the “one country, two systems” model that defined relations with Beijing.
