Hong Kong Leader Expresses Strong Disapproval Over Panama's Court Ruling on Port Contracts

Stock News
Feb 10

Hong Kong Special Administrative Region Chief Executive John Lee stated before the Executive Council that the Hong Kong government strongly disapproves of the ruling by Panama's Supreme Court, which declared the contract renewal between CKH HOLDINGS' Panamanian port subsidiary and the Panamanian government for operating two ports as unconstitutional. The Hong Kong government opposes any foreign government using coercion, pressure, or other unreasonable political tactics in international economic and trade relations.

Lee emphasized that the Hong Kong Commerce and Economic Development Bureau has summoned Panama's Consul General in Hong Kong to convey strong dissatisfaction with the ruling. He stated that Panama's reversal on legitimate economic and trade agreements damages its credibility and severely undermines international trade rules. Lee believes this incident has already harmed investor confidence in Panama's business environment and will have long-term negative effects on the country's economic development.

The Hong Kong SAR government urges the Panamanian government to respect contractual principles and seriously safeguard the legitimate interests of enterprises. Lee expressed hope that Panama would provide a fair and just business environment for companies operating legally within its jurisdiction, ensuring their lawful rights are free from interference. He stressed that Hong Kong enterprises operating and investing in Panama should receive fair and reasonable treatment and protection.

The Ministry of Foreign Affairs has clearly stated that China will take all necessary measures to resolutely protect the legitimate rights and interests of Chinese enterprises. The Hong Kong SAR government will fully support and cooperate with measures taken by the central government.

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