How this Hong Kong enterprise helps businesses in UAE
Patrick Tsang: Fostering Global Connections
Patrick Tsang, the chairman of Tsangs Group and co-founder and chairman of Hong Kong Ambassadors Club, is deeply influenced by his family's legacy of entrepreneurship and cultural exchange. As a 14th-generation Hong Konger and a fourth-generation member of Tsangs Group, Patrick draws inspiration from his grandfather, Kee Yau Tsang. Kee Yau Tsang's pioneering spirit led him to establish a Chinese restaurant in the North-West of England during the 1950s, a time when leaving one's hometown for business ventures was uncommon. He further expanded his entrepreneurial endeavors by opening Chinese restaurants in Belfast and Dublin.
Patrick's upbringing and education in the United Kingdom, coupled with his appreciation for Chinese culture, have instilled in him an international perspective. This unique blend of cultures has shaped his identity and growth journey, allowing him to navigate the global landscape with a deep understanding of both Western and Chinese values. Over the years, Patrick has cultivated strong ties with the Middle East, visiting the region for more than two decades.
The economic diversification efforts of the UAE have created opportunities across various sectors, including tourism, finance, technology, renewable energy, and manufacturing. The adoption of English Common Law in Abu Dhabi Global Market (ADGM) has positioned the UAE as a jurisdiction with a legal framework comparable to international financial centers like Singapore and Hong Kong. The country's multicultural environment and ambitious vision outlined in 'We the UAE 2031' further contribute to its appeal as a global partner and economic hub.
2024 marks 40 years of diplomatic relations between the UAE and China, reflecting their strong bilateral ties. The UAE's inclusion in the BRICS bloc underscores its growing significance on the global stage. Together with initiatives like the Belt and Road Initiative, these developments offer opportunities for increased trade, business, and investment cooperation between countries.
Tsangs Group actively supports Emiratisation through its investment strategies and partnerships. By investing in Emirati companies and collaborating with local partners, the group contributes to job creation and economic growth in the UAE. Additionally, Tsangs Group plays a pivotal role in promoting business and investment relations between Hong Kong and strategic regions like the Middle East, Greater Bay Area, and Southeast Asia through the Hong Kong Ambassadors Club (HKAC).
Founded in 2023, HKAC facilitates high-level dialogues and networking opportunities, fostering stronger ties between Hong Kong and strategic regions. The club's initiatives, such as delegations to the Middle East and partnerships with local businesses, aim to promote mutual collaboration and knowledge exchange. In April, HKAC will celebrate its first anniversary with an event focused on business networking and investment opportunities.
Tsangs Group remains optimistic about the UAE's future and its role as a global business hub. By leveraging its expertise and network, the group continues to bridge gaps between the UAE and global markets, echoing a legacy of entrepreneurship and cultural exchange. Through collaboration and innovation, Tsangs Group strives to contribute to the growth and prosperity of both the UAE and the wider global community.
By: Sahiba Suri
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