Against the backdrop of China’s One Belt, One Road initiative (Obor), and Beijing’s increasingly warm ties with Southeast Asia, Hong Kong is poised to play an ever more important regional role, reports Xinhua.

Hong Kong has already become the number one choice for Southeast Asian countries for establishing economic ties as well as the top investment destination, and that preference only looks to grow as Obor picks up steam.

The synergy between Hong Kong and BRI partners such as the Philippines and Thailand is worth noting. Chen Zhangcheng of the Hong Kong Chamber of Commerce of the Philippines said that Hong Kong is capable of providing substantial assistance in financing the Philippines, while Manila’s advantages of low labor costs and an English-speaking environment cannot be ignored.

Hong Kong has already signed a bilateral MOU on cooperation in Thailand’s Eastern Economic Corridor

Deputy prime minister of Thailand Somkid Jatusripitak says the prospect for cooperation with Hong Kong is especially promising, given Hong Kong’s role as Asia Pacific hub and Thailand’s connection to Laos, Cambodia, Myanmar and Vietnam.