During the visit, Mr Phillips will meet with business leaders from various sectors including legal services, consumer products, financial services, food and beverage, information and communications technology, and transport and industrial. He will also speak at three roundtable events, each co-organised by the East Java Chamber of Commerce and Industry, the Indonesia Fintech Association and the Indonesian Young Entrepreneurs Association with InvestHK, to promote Hong Kong's business opportunities, especially in the fintech sector and start-up communities.

Mr Phillips said, "Hong Kong continues to be an ideal location for overseas and Mainland companies as well as entrepreneurs from around the globe who use the city as the base to set up or expand their business. It can be reflected in our surveys conducted last year, which showed a 9.9 per cent increase in the number of business operations in Hong Kong with parent companies overseas and in Mainland China compared to the figure in 2017. In terms of start-ups, the results are even more encouraging with a 42.8 per cent increase in the number of start-ups in the city compared to the 2017 figure."

He added, "Hong Kong plays an important role in the Guangdong-Hong Kong-Macao Greater Bay Area as the most open and international city in the area. It is also an international financial, transportation, trade and aviation hub in the region. Indonesian multinationals and start-ups should seize the opportunities arising from the Greater Bay Area via Hong Kong and leverage the city's advantages to start or expand their foothold in the region."

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

Media contact:

Hillwan Yogi BRAHMANDA (Jakarta office)

Head, Investment Promotion

Tel: +62 21 8086 9722

Email: hillwan_brahmanda@hketojakarta.gov.hk

About InvestHK

Invest Hong Kong is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As of June 2015, Invest Hong Kong had assisted over 3,700 companies creating more than 40,200 new jobs in

the first year of operation or expansion and over HK$99 billion of investment. For more information, please visit www.investhk.gov.hk.