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Singapore business leaders attending the investment promotion event "Hong Kong and Huizhou: Your Winning Formula in China" today (March 5) heard the reasons why they should be investing and growing their businesses in Hong Kong and Huizhou. The seminar received an overwhelming response from the Singapore business community. More than 150 senior executives from companies in Singapore joined some 40 high-level government officials and business executives from Hong Kong and Huizhou.
The seminar was organised between Invest Hong Kong of the Hong Kong Special Administrative Region Government and the Huizhou Municipal People's Government to promote the combined advantages of the two cities to Singapore investors, after a very successful similar event in Dallas on April 19, 2007. The seminar focused on updating potential investors on opportunities in Hong Kong and Huizhou, and on Hong Kong's role in assisting companies wishing to develop new business on Mainland China.
The Hong Kong and Huizhou delegations were led by the Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, and the Executive Vice Mayor of Huizhou Municipal People's Government, Mr Huang Shifang.
Mr Rowse said, "Hong Kong and Singapore have always been close business partners, making Singapore one of the largest sources of foreign direct investment for Hong Kong. Over 150 Singaporean companies in a wide range of sectors, including property, financial services, transportation, food and beverages, textiles, retail, trading, travel and tourism, electronics, information technology, publishing and management services have based their offices or regional headquarters in Hong Kong, as the ideal gateway to expand into Mainland China."
"China offers very attractive markets with huge investment potential and Huizhou is one of these markets. It is critical to find a right entry point into the Mainland market to optimise the chance of business success. Hong Kong serves as a perfect strategic hub for investors to expand and manage their businesses in Huizhou and the rest of China," Mr Rowse added.
Executive Vice Mayor Huang Shifang of Huizhou Municipal People's Government introduced the development of Huizhou in recent years to the audience. He said, "Apart from Shenzhen, Huizhou is the second Mainland city closest to Hong Kong. It is an export-oriented economy and currently has more than 8,000 foreign-funded enterprises." Mr Huang further said, "IT and petrochemical industries are the focus of our future development. Following the establishment of petrochemical projects like the CSPC Nanhai Petrochemicals and the CNOOC Oil Refinery, Huizhou has got a reputation as a 'rising digital and petrochemicals industrial city'."
"At present, 53 Singaporean companies have been established in Huizhou with an investment of about US$91.95 million. We welcome more Singaporean investors to visit, study, and invest in Huizhou," Mr Huang added.
The one-day programme included a business seminar and individual meetings. In the seminar, Mr Chong Yong Min, President (China) of Amtek Engineering Ltd, shared his investment experiences and successful strategies in operating in Hong Kong and Huizhou. Mr Lin Song, Senior Foreign Lawyer of KhattarWong, gave legal tips on doing business in both cities. Ms Loretta Wan, the Hong Kong Trade Development Council's Regional Director, South East Asia & India, talked about the services available to assist Singapore companies with their businesses in China.
Ends/Wednesday, March 5, 2008
Issued at HKT 19:10
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