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Hong Kong rises to World’s No.3 most competitive economy

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 19 June 2025 – Hong Kong has moved up two places to rank as the world’s third most competitive economy, marking the second successive year that the city has jumped two places in the global rankings to reach its highest position since 2019.

The World Competitiveness Yearbook 2025 (WCY 2025), published (June 17) by the Swiss-based International Institute for Management Development (IMD), assessed 69 economies around the world. Hong Kong made gains in all the factors of competitiveness: “Government efficiency” (second), “Business efficiency” (second) “Economic performance” (sixth), and “Infrastructure” (seventh). The IMD remarked that the gains across all four factors of competitiveness reflect a broad-based approach of Hong Kong to attracting private sector investment.

“The World Competitiveness Yearbook shows that Hong Kong’s scores in overall terms and in many areas have improved, indicating that the Hong Kong Special Administrative Region (HKSAR) Government’s policy directions are on the right course and that various policies have yielded results,” said the HKSAR’s Chief Executive John Lee.

Hong Kong has ranked among the top 10 in the world for over 20 consecutive years, since the WCY 2003.

Mr Lee said the ranking also “affirms Hong Kong’s world-class business environment, reflecting business leaders’ positive views on its competitiveness and strengths, including the rule of law, independent exercise of judicial power, a simple tax regime with low tax rates, an efficient and transparent market, a robust financial system, and a facilitating environment aligned with international best practices, as well as free flow of capital, information, goods and talent, which are affirmed by the business community.”

Despite the current uncertain global economic landscape and geopolitical turmoil, Hong Kong recorded solid year-on-year GDP growth of 3.1% in the first quarter of 2025, with full year GDP growth expected to be 2% to 3%.

Totally, 145,053 local companies were newly registered under the Companies Ordinance last year, bringing the overall number of local companies registered to a record high of 1,460,494, at end-2024. Meanwhile, 1,079 newly established non-Hong Kong companies were registered, bringing that overall total to an all-time high of 15,126.

“Under the unique advantages of ‘one country, two systems’, Hong Kong enjoys both the China advantage and the global advantage. We will continue to leverage Hong Kong’s role as a ‘super-connector’ and ‘super value-adder’, strengthen international exchanges and co-operation, expand and deepen regional trade, explore new markets, with a view to building a vibrant economy, striving for development and improving people’s livelihoods on all fronts,” Mr Lee said.

To attract more non-Hong Kong incorporated companies to re-domicile to Hong Kong, the Government launched a new company re-domiciliation regime legislation last month, providing a simple and accessible mechanism for re-domiciliation to Hong Kong.

Already, two insurance companies, AXA Hong Kong and Macau (AXA China Region Insurance Company (Bermuda) Limited) and Manulife (International) Limited have announced plans to re-domicile to Hong Kong under the new regime, subject to regulatory approvals.

Hong Kong is actively driving reforms to strengthen and enhance its position as an international financial, trade, and shipping centre, trawling for businesses and talents. The Office for Attracting Strategic Enterprises has attracted over 80 strategic enterprises to establish offices in Hong Kong, bringing about HK$50 billion total investments in the years to come, and creating over 20,000 jobs.

Among the sub-factors in the WCY 2025, Hong Kong came top for “Tax policy” and “Business legislation” and second for “Education”, “International investment” and “Finance”.

Ranked as a top three global financial centre, Hong Kong’s stock exchange is a key barometer of financial market performance. By May 30, 2025, stock market capitalisation had increased by 24% year-on-year to over US$5.2 trillion.

Notably, the Hong Kong Stock Exchange has seen a surge in initial public offerings (IPOs), with total IPO funds raised reaching nearly HK$79 billion (US$10.12 billion) so far this year, making it the leader among major global exchanges.

 

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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