Healthy competition between Singapore and Hong Kong benefits global trade, says PM Wong
Healthy competition between Singapore and Hong Kong benefits global trade, says PM Wong
Prime Minister Lawrence Wong says Singapore is looking at how it can participate in Hong Kong’s new developments, such as its Northern Metropolis project.
HONG KONG: The occasional rivalry between Singapore and Hong Kong is a healthy one that ultimately benefits wider global trade, Singapore’s Prime Minister Lawrence Wong said on Friday (Mar 27).
Speaking at a meeting with Hong Kong Chief Executive John Lee, Mr Wong said the two cities have much in common and that their connections matter now more than ever.
“We are hubs for our respective regions, and while there is some competition from time to time, I think it is healthy competition. And more importantly, when we connect with one another, the pie grows, and we both benefit because we both believe in free trade, we both believe in rules-based multilateralism,” he said.
Mr Wong noted that ties between both cities are “more important than ever in a world that is becoming more fragmented and where barriers are going up”, and said Singapore looks forward to closer collaboration with Hong Kong.
The visit marks Mr Wong’s first trip to Hong Kong as prime minister. He said he was delighted to return, noting that his last official visit was in 2019, when he was still a minister.
“Many things have happened in Hong Kong,” he said, adding that he was keen to learn about the city’s new developments, including its five-year plans and the Northern Metropolis project, a 30,000-hectare development bordering Shenzhen aimed at boosting housing and urban growth.
“I’d like to see what Hong Kong is doing and how Singapore can participate in some of these opportunities too,” he said.
Mr Wong is scheduled to visit key sites in the Northern Metropolis during the trip.
Hong Kong is the second leg of Mr Wong’s four-day visit to China, following an earlier stop in Hainan.
DEEP ECONOMIC AND PEOPLE TIES
Beyond diplomacy, the two cities are deeply intertwined economically and socially.
Singapore and Hong Kong were each other’s fifth-largest trading partner last year. More than 5,000 Hong Kong companies operate in Singapore across sectors including financial services, maritime, supply chain and logistics, and tourism and hospitality.
Singapore firms, in turn, have established around 60 regional headquarters, 100 regional offices and 430 local offices in Hong Kong as of end-2025.
Hong Kong is also home to the largest Singaporean expatriate community in Asia, with over 20,000 residents. Tourism flows reflect the close ties as well – Singapore welcomed more than 330,000 visitors from Hong Kong last year, while over 470,000 made the trip in the other direction.
Earlier on Friday, Mr Wong met with Hong Kong business leaders. He will also attend a reception with Singaporeans based in the city later in his trip.