Hong Kong not directly affected by war in Iraq

Despite the fact that Hong Kong will not be directly affected by the military action against Iraq, the Hong Kong Special Administrative Region Government (HKSAR) is monitoring the situation very closely to assess any possible impact on Hong Kong’s economy.

Speaking to the media on March 20, soon after the military action against Iraq started, the Financial Secretary of the HKSAR, Mr. Antony Leung assured the public that there was nothing to worry about as Hong Kong’s economic, monetary and financial systems were functioning smoothly.

“Obviously, in times like this, I urge small investors to be extra careful when they are making investment decisions,” he said.

“As long as the military conflict is a short one, we do not believe that there will be adverse impact on Hong Kong economy. However, if the conflict drags on for a long time, then there may be impact on our major export markets, meaning our exports to these markets may be affected.

“However, it will really affect the entire world.”

At the same time, the HKSAR’s Secretary for Security, Mrs. Regina Ip, said that despite the outbreak of hostilities in Iraq, the possibility of Hong Kong being subject to terrorist attacks remained low.

She gave assurances that Hong Kong has sufficient manpower and contingencies to handle any possible terrorist attacks.

The HKSAR Security Bureau is in close liaison with various authorities and agencies to exchange intelligence and, if necessary, to update the threat assessment and activate appropriate measures to safeguard the security and safety of the HKSAR.

The police have strengthened patrols at key ports, while the Customs & Excise and Immigration departments are on high alert at control points.

Facilities and installations of significance to the security of Hong Kong, such as Hong Kong International Airport, are also on the alert and will implement enhanced security measures as appropriate.

Hong Kong residents are advised not to go to the war zone and nearby countries for the time being for their own safety.

 

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