The Hong Kong Singapore Business Association (HSBA) said businesses in the SAR could set up offices in Singapore to attract talent from the city-state.

The HSBA’s president Philip Chan said the whole world is competing for talent, and Singapore can provide Hong Kong with a diverse pool of talent, for example for expanding businesses.

“Singapore is a multi-racial, multi-religious, harmonious country. We have more international students... from Vietnam, Thailand, Indonesia, and even India. They study in Singapore and eventually, they work in Singapore,” he told RTHK.

“If a Hong Kong company, for example, wants to go into the Indian market, I think it's a good idea to set up a regional office in Singapore and then it's easier to get the [Indian] staff to invest in their home country.”

Chan added that Hong Kong can help Singapore expand its market in exchange.

“Because Hong Kong is also part of the Greater Bay Area, and Hong Kong is a super-connector, which is good [for Singapore] to venture into the China market,” he said.