What we learnt

Rong Hui discussed his journey, from studying in China during the Olympics to pursuing development and macro-level concepts in his master's degree at Boston University. He gained experience in governance and private investment policy while working at the Singapore Economic Development Board and the World Bank, He later transitioned to the private sector, working in renewable energy finance in Paris, returning to Asia during the Covid-19 pandemic to work with the Beacon Fund on SE Asia. Among other things, Rong Hui shared his experiences in China with the World Bank, where he acted as an intermediary between local officials and the central government, working to build trust with them.

The conversation with Rong Hui focused on the importance of enabling effective and fair communication in negotiations for impact investment and how to empower the less powerful side. Rong Hui emphasized the importance of making the less powerful party feel comfortable and empowered, regardless of their role. It was important for an impact investor to go beyond just providing money, and instead should also offer value-adding services and impact-thinking. He believes that more investing should consider both impact and financial sustainability before investing, and companies should be aware that there may be different sources of funding available to finance different types of companies. Additionally, Rong Hui highlights the importance of stakeholder engagement for getting the right user needs and understanding how the market actually looks like.

When asked about the potential for making losses or designing things to make a loss, Rong Hui explained that a loss could be justifiable if the impact can be qualified, and assessments should be justified differently for each organization. He thinks that more work needs to be done to assess whether making grants based on promised impact is effective.

Finally, Rong Hui believes that lowering the barriers to meeting to engage with stakeholders is essential. This would help organizations to build better relationships with their stakeholders and create more effective partnerships. In conclusion, Rong Hui advocates for a more comprehensive approach to assessing companies and creating social impact, one that empowers all stakeholders, leverages knowledge and skills, and considers both financial and social rebalancing.