Financial Secretary Paul Chan on Thursday hailed a cooperation project between Hong Kong and Thailand aimed at promoting the use of electric vehicles (EVs) and green transport in the Southeast Asian country.

At a ceremony to kick off a partnership between the Hong Kong Investment Corporation (HKIC) and Thai energy company Spark, Chan said that while the SAR is not known for mass EV production, its tech community is able to create innovative solutions for the vehicles and other new energy applications.

“Hong Kong is proud to assist Thailand in its green transformation, using cutting-edge technologies developed by our tech firms, and contributing our know-how, innovation, expertise and experience,” he said.

“This high-profile, international project is a brilliant showcase of our green technological capabilities. It reinforces Hong Kong's aspirations and prospects to become an international green tech and green finance centre.”

Chan said the partnership is only the beginning of more collaborations with Thailand and other Southeast Asian countries in the green, smart mobility field.

HKIC’s CEO Clara Chan noted that the investment is the corporation’s first overseas initiative.

She said the government-owned investment vehicle aspires to help Spark become one of the top three EV charging brands in Thailand by 2026.

“To recap, as patient capital, the HKIC has been carrying out due mandate, namely to seek reasonable financial return over the medium to long term, and more importantly, to enhance the long term competitiveness and economic vitality of Hong Kong,” she said.

Clara Chan said the HKIC's investments have been focused on a diversified range of fields, including core technology, biotechnology, new energy and green technology, spanning companies at various stages of development and from around the world.