The Future of Hong Kong as a Global Talent Hub

Our Hong Kong Foundation “INSIGHT FORUM”Series:
Hong Kong Way Forward -
The Future of Hong Kong as a Global Talent Hub

(27 October 2022, Hong Kong)  The severe shortage of talent has become a big talking point among policymakers, businesses, and the public. To address this important economic and social issue, Our Hong Kong Foundation (OHKF) today organized the latest Insight Forum titled “The Future of Hong Kong as a Global Talent Hub”.

Mr Bernard Chan, Executive Vice-Chairman of Our Hong Kong Foundation (OHKF) and Chairman and President of Asia Financial Holdings Limited, said, “Make no mistake, we are in a war for talent. Countries and regions all around the world have been making unprecedented efforts to groom and attract talent, and we cannot risk falling behind.”

In his speech, Mr Bernard Chan pinpointed key deficiencies leading to our talent deficits. Within the city, its education system is not yet fully equipped to supply the future-proof talent. Increasing skills mismatch has been echoed by 58% of businesses identifying talent shortage as a key obstacle to their upgrade and transformation plans. In terms of attracting top-notch talent all over the world, the city has not been aggressive enough in courting skilled labour via our visa schemes as there exists a huge mismatch between the eligibilities and benefits of such schemes.

An adequate supply of talent is needed to achieve breakthroughs for both traditional and emerging industries, with the ultimate goal to enhance Hong Kong’s competitiveness and fulfil the city’s purpose in China’s 14th Five-Year Plan. Mr Bernard Chan highlighted two ways forward: a liveable environment, and the potential to take their businesses and careers to the next level. Locally, the city must step up efforts to cultivate new talent across all industries and to provide working professionals with the resources and opportunities to upskill and reskill. Regionally, Hong Kong should leverage its regional proximity to the Greater Bay Area and beyond to attract ambitious regional talent looking to expand their horizons. Internationally, the city needs to promote itself as a gateway for international R&D talent to unlock the incredible potential of Hong Kong and the Greater Bay Area.
In concluding his address, Mr Bernard Chan stated the Government, businesses and every one has a role to play in telling the story of Hong Kong, a place of unlimited opportunities for talent and businesses, in order to solidify Hong Kong’s status as a talent hub and to take Hong Kong to new heights.

Mrs Eva Cheng, President of OHKF, said, “Hong Kong has talents, but so do many other big cities that want to rival our position also have a lot of talents. What Hong Kong needs is not just having talents, but to have a critical mass of talents, and to have the best talents call Hong Kong HOME.”

“Hong Kong Way Forward - The Future of Hong Kong as a Global Talent Hub”
Full live webinar：https://youtu.be/6_10EdlTD54?t=149