**Hong Kong Seeks to Attract Foreign Capital Amid Middle East Uncertainty** Hong Kong is poised to capitalize on its position as a "safe haven for investment" to draw foreign capital from the Middle East, despite ongoing conflict in the region. According to Alpha Lau Hai-suen, director general of InvestHK, the Hong Kong government's investment promotion agency, the city can leverage its stability and economic growth to attract businesses shifting away from Dubai. Lau noted that companies are cautious about expanding operations due to rising operational costs and uncertainty stemming from the US-Israel war on Iran and Tehran's attacks on infrastructure in Dubai, United Arab Emirates. This has led to a decline in investment in Dubai, with businesses seeking alternative destinations. Lau stated that Hong Kong should seize the opportunity to attract foreign capital, even as the Dubai government continues to offer tax incentives, preferential treatment, and financial support to international investors. China and other Asian countries with strong economic growth are among the top destinations for companies seeking expansion, according to Lau. Additionally, sovereign funds have shown interest in diverting investment to the city and the East, even before the US-Israel war on Iran began last month. This presents an opportunity for Hong Kong to attract foreign investment and play a key role in helping mainland companies go global. In an interview on the sidelines of a seminar co-hosted by InvestHK in Beijing, Lau highlighted that companies and countries traditionally using Dubai as a hub have shifted to Hong Kong, with some also considering Singapore. This shift is driven by a desire to diversify risk, with Lau stating, "What we have seen is that not only Middle Eastern money, but companies and countries that have traditionally used Dubai as a hub, have now shifted mostly to Hong Kong – maybe a little bit to Singapore – because they want to diversify their risk."