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Fitch warns that banning foreign travel threatens Hong Kong business

International trade unions in Hong Kong are urging the government to restart air travel, with the Treasury warning that a ban on foreign travel will prevent companies from using Hong Kong as their headquarters.

Officials who went home for Christmas went missing outside the Asian financial center after authorities suspended flights from eight countries, including the US and the UK, to protect the city from Omicron.

David Graham, chief executive of the British Chambers of Commerce in Hong Kong, said the ban on “tragic” flights was a shock to many.

“It will cause great frustration and confusion, especially for Hong Kong officials and staff who went to the UK for Christmas to spend time with their families who wanted to return to Hong Kong in early January,” he said. and Financial Times.

“We strongly believe that this ban will be short-lived due to the isolation and testing that is already available to those from the UK.”

Hong Kong, which adheres to the principles of “zero-Covid”, has reintroduced a number of social regulations following an explosion by Cathay Pacific airline crews, who were not allowed to order passengers to be isolated.

Flights from eight countries were banned for 14 days on Wednesday last week. Some airlines, such as Air Canada and the Virgin Atlantic, have temporarily suspended flights because they have not been able to meet the Hong Kong government’s demand for isolation.

The government says strict measures should be taken because the city is facing a “serious threat”.

According to Fitch Ratings, the new sanctions could jeopardize Hong Kong’s economic growth prospects. “We hope that the tightening of immigration restrictions will prevent the region from becoming a capital for foreign countries,” it said.

Hong Kong also recently launched a seven days compulsory isolation for pilots and cargo pilots. The measure has led to a flurry of flights, with Cathay Pacific reducing its cargo to 20 percent and the number of passengers up to 2 percent before the epidemic.

The recent ban on the aircraft led to higher warnings rising food prices.

Applicants to enter Hong Kong from many countries are already isolated for three weeks in a hotel and sometimes in government-closed areas.

The ban has prevented deaths and health problems that appear elsewhere, and has removed the city from the rest of the world.

However, at the same time, the city has failed to compel the elderly to get vaccinated, and more than 20 percent of people between the ages of 80 and older are vaccinated.

International trade groups have already warned of this Hong Kong put its crown in jeopardy as the economic center of the region if it did not reopen its borders.

“Airlines ban adds additional pressure, cost and uncertainty to business executives based in Hong Kong,” said Tara Joseph, head of The American Chamber of Commerce in Hong Kong, which represents 1,400 companies in China.

“Some people are needy, some are afraid of what will happen and there is no indication of when this will end.”

The US ambassador to Hong Kong said there was a need for “greater dialogue and transparency in travel, testing and personalization that affects Hong Kong as a place to live and do business”.


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