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Budget by Hong Kong SAR’s Financial Secretary: Accelerating Development through Reform and Innovation

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 26 February 2025 – Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region unveiled his 2025-26 Budget today (February 26). He noted that while geopolitical situation might bring risks, technology reform and artificial intelligence (AI) development are remoulding the global landscape, leading to the emergence of new industries, new forms of business, new products and new services. He stressed that Hong Kong must seize the opportunity to make the most out of this critical window to speed up development, establishing the new before abolishing the old. He also emphasised that transformation and innovation will lead the way into the future, and the Government is poised to fast-track the high-quality development of Hong Kong’s economy.

The Budget presents a series of measures aimed at accelerating the cultivation of new quality productive forces. On innovation and technology (I&T), the Government will promote Hong Kong into an international exchange and co-operation hub for the AI industry. Through frontier research and real-world application, the Government will endeavour to develop AI as a core industry and empower traditional industries in their upgrading and transformation. To spearhead and support Hong Kong’s innovative research and development as well as industrial application of AI, the Government will establish the Hong Kong AI Research and Development Institute and launch the Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+). On finance, the Government will continue to take forward reforms to the listing regime, host the Hong Kong Global Financial and Industry Summit, and formulate a plan this year on promoting gold market development.

To seize the opportunities brought about by the rapid advancement of innovation and technology, the Budget highlights the need to accelerate the development of the Northern Metropolis, which is an investment in Hong Kong’s future. The Government will continue to accord priority to providing resources for this initiative, which primarily includes providing large tracts of I&T land at the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, together with San Tin Technopole; adopting an innovative mindset in piloting “large-scale land disposal”; developing a data facility cluster at Sandy Ridge; as well as identifying suitable sites in the Northern Metropolis for the construction of conference and exhibition facilities.

On the promotion of tourism, funding will be allocated to pursue the concept of “tourism is everywhere” and implement the Development Blueprint for Hong Kong’s Tourism Industry 2.0. A study will be conducted on the development of the waterfront and former sites to the south of the Hung Hom Station in Kowloon into a new harbourfront landmark in Kowloon, including a yacht club.

Regarding land supply, Mr Chan announced that the Government will not roll out any commercial site for sale in the coming year in view of the high vacancy rates of offices in recent years to allow the market to absorb the existing supply. The Government will also consider rezoning some of the commercial sites into residential use and allowing greater flexibility of land use.
Mr Chan proposed a reinforced version of the fiscal consolidation programme to focus on strictly controlling government expenditure, supplemented by increasing revenue, to restore fiscal balance in the Operating Account, in a planned and progressive manner, within the current term of the Government. The Government will also deliver more efficient public services to citizens through leveraging technology, streamlining processes and driving the digital transformation of public services. Mr Chan said he will uphold the “user pays” and the “affordable users pay” principles as far as practicable while increasing revenue, including increasing the air passenger departure tax, and reviewing the tolls of government tunnels and trunk roads. The Government will suitably expand the size of bond issuance on the premise of maintaining healthy public finances and use the funds raised on infrastructure works in a proper and flexible manner to invest in Hong Kong’s future and create value for society.
More information about the 2025-26 Budget is available from www.budget.gov.hk.

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Four Points by Sheraton Makes its Debut in Senegal with the Opening of Four Points by Sheraton Dakar Diamniadio

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Located in the new Sports City complex and just 20 minutes from Blaise Diagne International Airport

DIAMNIADIO, Senegal, April 3, 2025/APO Group/ –Four Points by Sheraton, part of Marriott Bonvoy’s (www.Marriott.com) global portfolio of over 30 brands, today announced the opening Four Points by Sheraton Dakar Diamniadio, marking the brand’s debut in Senegal. Whether travellers are visiting Dakar’s ‘smart city’ district of Diamniado for work or fun, the hotel caters to their needs with its approachable design, stylish comfort and all the brand’s popular extras.

Located in the new Sports City complex and just 20 minutes from Blaise Diagne International Airport, Four Points by Sheraton Dakar Diamniadio provides easy access to major local landmarks, including the CICAD (Abdou Diouf International Conference Centre), the Ministerial Sphere Ousmane Tanor Dieng, the United Nations Headquarters for West Africa, and the future Diamniadio Olympic Stadium, set to host the 2026 Summer Youth Olympics.

“The launch of Four Points by Sheraton Dakar Diamniadio marks an important milestone for Marriott International,” said Sandra Schulze-Potgieter, Vice President, Premium, Select & Midscale Brands, Europe, Middle East, and Africa, Marriott International. “Senegal’s rich heritage and Diamniadio’s economic importance make it a perfect fit for our Four Points by Sheraton brand. This new hotel will provide travellers with modern details and local experiences, while supporting the region’s growth in business, sports, and tourism.”

The launch of Four Points by Sheraton Dakar Diamniadio marks an important milestone for Marriott International

The hotel features 173 stylish rooms with views of Sports City and its urban surroundings. Reflecting the brand’s signature style, Four Points by Sheraton Diamniadio offers everything that matters for today’s independent travellers, including the Four Points by Sheraton Four Comfort Bed, fast and free Wi-Fi throughout the hotel and an energising breakfast with fresh coffee on tap.

For a social eating experience, guests can enjoy fresh, and delicious food throughout the day at FP Social, while Chic’ Afrique offers local and international bites in a vibrant, African-inspired setting. For a laid-back end to the day, FP Social Bar offers a relaxed atmosphere where guests can unwind and explore the Four Points’ signature Best Brews™ programme—a curated selection of local craft beers.

Other facilities include an outdoor pool and a state-of-the-art fitness centre. With 139 square metres of flexible meeting space across four rooms, the hotel is an ideal venue for intimate meetings and social gatherings.

“We have wholeheartedly embraced the spirit of Teranga – the essence of Senegalese hospitality -and the innovative Sports City concept in every detail of our hotel’s development. From thoughtful design and carefully chosen materials to exceptional service, we are dedicated to creating an experience where international excellence meets the warmth, generosity, and well-being that make Senegal so special,” said Mustapha Fodil, General Manager of Four Points by Sheraton Dakar Diamniadio.

As the only hotel in the Diamniadio Sports City, Four Points by Sheraton guests have access to world-class sports facilities, including a FIFA-approved football pitch, basketball and tennis courts, an Olympic-sized swimming pool, a range of gyms, and a wellness centre. For families, a children’s playground complete with a climbing wall adds an extra layer of fun. Guests also benefit from the hotel’s proximity to key government and business institutions, while Dakar’s iconic attractions—such as the African Renaissance Monument, Gorée Island, and bustling local markets—are easily accessible by highway or rail.

For more information about Four Points by Sheraton Dakar Diamniadio, please visit www.Marriott.com.

Distributed by APO Group on behalf of Marriott International, Inc

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Morocco Emerges as New Hub for Global Football as World Football Summit Lands in Rabat

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World Football Summit

Historic gathering of football leaders from 50 countries set to shape the future of the beautiful game

RABAT, Morocco, April 3, 2025/APO Group/ –World Football Summit (WFS) (https://WorldFootballSummit.com), in partnership with UM6P and Evosport, and with OCP Group as the Presenting Partner, will welcome over 1000 leaders from the global football industry to Rabat on April 9-10, 2025, marking a significant milestone in Morocco’s rise as a football powerhouse following their historic World Cup performance and ahead of co-hosting the 2030 FIFA World Cup.

WFS Rabat 2025 represents an unprecedented convergence of African football leadership and global stakeholders, with the strong backing of the Moroccan Football Federation (FMRF). The summit will serve as a landmark gathering for African football development while fostering crucial cross-continental collaborations in football governance, investment, and innovation.

The event will feature 85 distinguished speakers from football’s most influential organizations, including Fouzi Lekjaa (President of the Moroccan Football Federation), Gelson Fernandez, (Deputy Chief Member Associations & FIFA Regional Director Africa – FIFA), Samson Adamu (Director of tournaments and events at CAF), Fréderic Kanouté (Football Legend), Mr. Shehu Dikko (Honourable Minister of Sports – National Sports Commission of Nigeria), or Eniola Aluko (Investor and advisor). Furthermore, prominent figures in global sports leadership from the Confederation of African Football (CAF), FIFA, FC Barcelona, or the NBA, will be in attendance as well as government officials from Nigeria, Ghana, or Kenya, creating a unique environment for public-private dialogue on sports development.

The summit will address critical topics including football infrastructure development, investment opportunities, governance frameworks, and pathways for African talent.

Africa’s football journey is no longer a parallel story but a central chapter in the global narrative

Jan Alessie, Co-Founder and Managing Director of World Football Summit, commented: “WFS Rabat represents a key moment in football’s evolution. Africa’s football journey is no longer a parallel story but a central chapter in the global narrative. The future of football is collaborative, and that future begins in Rabat.”

The summit is made possible through the invaluable support of key partners including Royal Air Maroc and TAQA, who have demonstrated their commitment to elevating Morocco’s status in international sports, along with other esteemed organizations such as APO Group or Monterrey FWC26 Host City.

Event Details:

  • Date: 9th-10th April 2025
  • City: Rabat, Morocco
  • Expected attendance: 1000 industry professionals from 50 countries

For more information about World Football Summit’s 2025 events and registration details, visit https://NewAfrica.WorldFootballSummit.com

Distributed by APO Group on behalf of World Football Summit

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Ghana National Petroleum Corporation (GNPC) Exploration and Production Limited (Explorco) Managing Director (MD) Joins Ghana Investor Briefing to Discuss Exploration Opportunities

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Kinetiko Energy

Michael Aryeetey will engage investors on the exploration opportunities emerging in Ghana’s oil and gas industry during the Invest in African Energies briefing this April

ACCRA, Ghana, April 2, 2025/APO Group/ –Michael Aryeetey, Managing Director of the Ghana National Petroleum Corporation’s (GNPC) upstream-focused subsidiary GNPC Exploration and Production Limited (Explorco), has joined the Invest in African Energies: Accra Investor Briefing on April 14, 2025. Aryeetey will take part in a discussion on Advancing Exploration Opportunities in Ghana, sharing insight into Explorco’s project portfolio and expansion strategy.

With 17 oil and gas projects in the pipeline until 2027, Ghana is pursuing enhanced exploration and production to stabilize the market and unlock greater returns. For its part, the GNPC – through Explorco – has been at the helm of this growth, intensifying its exploration efforts to unlock new hydrocarbon reserves and sustain Ghana’s long-term energy security. In 2025, the company is seeking play-opening discoveries in the onshore Voltaian basin, with an exploration well planned this year. The onshore basin covers an area of 100,000 km² and could be a game-changer for the country. The GNPC has invested $160 million in seismic data acquisition across the basin, aimed at identifying geological structures and supporting future exploration targets.

Ghana offers significant growth opportunities for exploration and production firms, and Explorco is leading the way towards unlocking the country’s petroleum basins

Explorco was established to strengthen GNPC’s interests in exploration and production activities across Ghana. In alignment with the GNPC’s broader industry goals, the company implemented short-term objectives in February 2025 to enhance oil production and attract investment through collaboration, innovation and operational efficiency. Progress has already been seen to achieve these goals, with international oil company partnerships and GNPC-led upstream projects underway. In 2024, the country reported a 10.7% increase in oil production, with operations in the Jubilee South East project – led by Tullow Oil – contributing to a rise in output.

Energy major Eni and the GNPC also committed to strengthening cooperation in March 2025 under efforts to boost exploration and production in Ghana. The companies aim to pursue joint goals, including establishing joint ventures, integrating advanced technologies and investing in local capacity. Eni currently operates the Offshore Cape Three Points integrated project alongside Vitol and GNPC.

Meanwhile, working alongside international partners, the GNPC targets several offshore drilling programs in 2025. Tullow Oil is set to drill one producer and one injector well at the Jubilee field in May 2025. A 4D seismic survey is already underway at Jubilee and its adjacent field TEN, aimed at optimizing the 2025-2026 drilling program being implemented by Tullow Oil.

“Ghana offers significant growth opportunities for exploration and production firms, and Explorco is leading the way towards unlocking the country’s petroleum basins. Through strategic partnerships, cutting-edge technology and a commitment to local content development, the GNPC is shaping Ghana’s future as a competitive oil and gas producer,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Taking place at the Kempinsky Hotel in Accra, the Ghana investor briefing serves as a prelude to the African Energy Week (AEW): Invest in African Energies conference this September in Cape Town. The event offers a platform for investors and project developers to explore opportunities in Ghana’s upstream market. By facilitating direct engagement between Explorco and potential investors, the event aims to unlock new partnerships that will drive exploration and production activities. Investors will gain firsthand insight into Ghana’s evolving regulatory framework, licensing rounds and infrastructure development, enabling them to make informed investment decisions.

Distributed by APO Group on behalf of African Energy Chamber

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