Invest Hong Kong, the government department responsible for
attracting and servicing foreign, Mainland Chinese, and
Taiwanese investments in the Special Administrative Region
(SAR), celebrated its 10th anniversary earlier this year while
launching its 2,000th investment project -- Start Asia, an
integrated branding consultancy from the United Kingdom.
The Secretary for Commerce and Economic Development, Mrs. Rita
Lau, at a commemorative certificate presentation ceremony, said
that the Hong Kong government has identified six growth
industries where Hong Kong enjoys clear advantages. Apart from
the cultural and creative industry, the other five are testing
and certification, medical services, educational services,
innovation and technology, and environmental industries.
Mr. J. Cummings, Start Asia's managing director, said, "we base
the business in Hong Kong because of its rule of law, low taxes,
banking structure and, most importantly, its easy access to
Mainland China... the Hong Kong office will act as a strategic
and creative hub managing smaller satellite offices in the
To date, Invest Hong Kong has completed over 2,000 investment
projects and attracted HK$52 billion worth of investment. Last
year, it assisted 265 overseas, Mainland Chinese, and Taiwanese
companies to set up or expand in the city. One of the critical
reasons overseas firms are continuing to invest in Hong Kong is
the shift from traditional markets in the West towards new ones
in the East. The shift has been magnified recently by the credit
crunch and global financial crisis.
Hong Kong's Chief Executive, Mr. Donald Tsang, at this year's
annual reception for new investors, reiterated that Hong Kong's
business-friendly environment also provides other appealing
advantages such as a law-abiding government, the rule of law
upheld by an independent judiciary, a free flow of information,
capital, people and goods, and a level playing field for
Invest Hong Kong's recently released sixth edition of the
Greater Pearl River Delta (GPRD) report highlighted the city's
central position in the GPRD's development, and forecasts great
promises for the future.
The report states that in the past 20 years, the GPRD has become
one of the most affluent and fastest growing regions in Mainland
China, and one of the world's most dynamic economic areas with
an average annual GDP growth of over 11%.
A range of key policy initiatives, including the "Outline Plan
for the Reform and Development of the PRD (2008-2020)", and
major cross-border infrastructure projects such as the Hong
Kong-Zhuhai-Macao Bridge and the Guangzhou-Shenzhen-Hong Kong
Express Rail Link, are improving significantly the connectivity
within and between the GPRD and the rest of the world; making it
easier for foreign investors to access opportunities in there
than ever before.
Invest Hong Kong's Director-General, Mr. Simon Galpin, commented
that "Hong Kong is the traditional access point for
multi-national companies into the GPRD and Asia Pacific. This
latest edition of the report highlights the ways in which
overseas companies are using Hong Kong as part of their
successful GPRD business strategies."
"The Hong Kong-PRD combination has resulted in the PRD
developing into one of the world's leading manufacturing centres,
while Hong Kong has become a principal centre for management,
information, co-ordination, finance and professional services."
One of the report's authors, Professor Michael Enright, pointed
out that over the years, GPRD has increased in importance as a
production centre and a market within Mainland China and
globally. "As part of the GPRD, Hong Kong is becoming not only a
place where the rest of world meets China, but also where China
meets the rest of the world."