Investment in the Belt and Road projects could kick off as early as within the next 12 months, DBS Hong Kong managing director Alex Cheung Kin-sang said.

Some companies on the mainland have already started to make strategic plans to grab opportunities under the Belt and Road initiative, a Beijing-led strategy to boost development along ancient "Silk Road" trading routes from China to Europe and Southeast Asia.

"The next 12 to 18 months will see (Belt and Road) related commercial projects on infrastructure, wharf and industrial park building, as well as logistics," said Cheung.

"About 10 State-owned companies on the mainland are in discussions with DBS to explore investment opportunities under the ambitious plan," he added, but refused to disclose any details.

Belt and Road projects may take off within a year

Hong Kong, with its advantageous geographical position, will play an important role in the Belt and Road program, along with its strengths in capital raising, wealth management and offshore renminbi as well as bond issue businesses, said Bernard Charnwut Chan, a member of Hong Kong's Executive Council.

David Goldman, managing director and head of Americas at multinational financial services firm ReOrient Group Ltd, believes Hong Kong will not only be the financial hub of the Belt and Road initiative but also a center for human capital.

"You have investment banking expertise in Hong Kong, which you don't easily find on the mainland," said Goldman. "As a source of ideas, technology and finance, the city is playing a critical role in the nation's key policy."

Hong Kong companies, with their rich global expertise, abundant experience and great enthusiasm, will help mainland companies work effectively in difficult environments, especially in the Middle East, he added.

As for concerns about stiff competition from Singapore, Goldman said Hong Kong is much better connected than Singapore geographically and commercially with the mainland - the major initiator of the Belt and Road strategy. "The connection with the mainland is critically important to catch opportunities in the (Belt and Road) scheme," he said.

It may be noted that many of the projects envisioned are in Southeast Asia.

Cheung admitted that the recent depreciation of the renminbi and emerging-market currencies have hindered the progress of Belt and Road to some extent, but he expects the projects launched in emerging nations to stimulate economic growth there.

Apart from currency depreciation and slow economic growth in emerging markets, the diverse cultural practices as well as legal and regulatory structures involved will also be huge obstacles in carrying forward plans under the strategy, warned Goldman.