Business groups on Tuesday welcomed the passage of Article 23 national security legislation, saying the new laws would effectively safeguard security and lay a solid foundation for economic growth and prosperity.

The Hong Kong General Chamber of Commerce released a statement saying the new legislation would help ensure the city’s long-term growth and stability.

“As stability and prosperity go hand in hand, it is vital that our city has robust laws to safeguard its security and development interests while protecting civil rights and freedoms,” it said.

“The Chamber strongly believes that the [Basic Law Article 23] legislation will make Hong Kong a safer destination for local and foreign businesses and professionals operating here.”

The Chinese General Chamber of Commerce of Hong Kong agreed that the stability to be brought about by the national security legislation will be good for business.

It said in a statement that the new Article 23 legislation, together with the city’s existing national security law, will be effective in safeguarding national security, and “help promote Hong Kong as the prime location for domestic and international investors to break into the mainland and Asia-Pacific markets.”

It added that the new laws would allow local industries and the society at large to focus on beefing up the economy.

The Federation of Hong Kong Industries agreed that the legislation would lay a solid foundation for Hong Kong’s future development.

“The SAR government and all sectors of society will be able to focus on the economy for the benefit of people’s livelihoods, so that Hong Kong’s economy will reach new heights,” it said.

The groups also urged the government to continue its work on clarifying any misconceptions about the new legislation.