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開埠以來，香港第一次為自己訂下一份覆蓋全局的五年之約，《香港特別行政區經濟和社會發展第一個五年規劃》上星期公布，同日，行政長官亦發表新一份《施政報告》。《五年規劃》訂下方向、目標、指標和時間表，是香港未來五年的發展藍圖；《施政報告》則是落實藍圖的年度行動綱領，按最新內外環境和實際情況靈活調整。兩份文件一脈相承，環環相扣。

In last week's blog, we explored the deepening co-operation between Hong Kong and the Middle East. Events over the past week have brought this growing partnership into sharper focus. Sohar International, Oman's second-largest bank, opened its first office outside the Middle East in Hong Kong, becoming the first Omani bank to establish a presence here. On the same day, the Oman Investment Authority announced plans to participate in the Hogn Kong SAR Government's Innovation and Technology Venture Fund by investing approximately HK$250 million in partnership with a local fund management company. It is the first Middle Eastern sovereign wealth fund to participate in the scheme.

The International Monetary Fund's latest global macroeconomic projections, released a few months ago, forecast growth of 3.8% and 4.5% for emerging market and developing economies this year and next year respectively—well above the rates for both the global economy and advanced economies. Indeed, emerging markets have been growing at a relatively faster pace for a quarter of a century.