Wal-Mart Stores, Inc. announced the establishment of its new Asia regional headquarters in Hong Kong today (September 3).
President and Chief Executive Officer for Wal-Mart Asia, Mr Vicente Trius, said the Hong Kong regional headquarters will have strategic responsibilities for managing the company's current operations in Asia and for business development.
"Just as the Wal-Mart America's regional office in Miami oversees the company's operations in Canada, Central and South America," Mr Trius said, "The new Wal-Mart office in Hong Kong will oversee the company's operations in Mainland China, India and Japan, as well as identify new business opportunities for the company throughout Asia."
Commenting on the reasons why Wal-Mart chose Hong Kong, Mr Trius said, "Hong Kong is the perfect location from which to operate a regional headquarters for Asia, as it is centrally located and offers ready access to markets across the region. It is a great staging area from which to manage our current portfolio and potential future expansion."
Director-General of Investment Promotion at InvestHK, Mr Mike Rowse, warmly welcomed Wal-Mart's decision to choose Hong Kong from among other cities in Asia. He said, "The establishment of your regional headquarters here represents a powerful vote of confidence in Hong Kong as the preferred location for leading global companies to manage their business in Mainland China and elsewhere in Asia."
Over the years, Hong Kong has been the most popular location in Asia for companies from around the world to establish a regional hub. Some 3,900 overseas and Mainland companies operate regional headquarters or regional offices in Hong Kong.
Wal-Mart Asia's Vice President, People, Mr Brian Walker, cited the advantages that Hong Kong offers his company. He said, "With an abundant pool of talent and professionals in the city, Wal-Mart is able to recruit the right local staff for our regional headquarters. In addition, Hong Kong is equipped with excellent transportation, communications and technology infrastructure, which are essential tools for our regional management team."
Mr Rowse concluded, "I am confident that the new Hong Kong hub will play a vital role in Wal-Mart's business development in the region. And, as you expand your business, we will be ready to help by continuing to provide you with what you need when you need it. I wish Wal-Mart every success in Hong Kong, regionally and globally in the years to come."
Wal-Mart Stores, Inc operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and Sam's Club in the US, as well as stores in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom and, through a partnership, in India. Wal-Mart is listed on the New York Stock Exchange under the symbol WMT. More information about Wal-Mart can be found by visiting www.walmartstores.com. Online merchandise sales are available at www.walmart.com and www.samsclub.com.
InvestHK is the award-winning department of the Hong Kong Special Administrative Region Government responsible for attracting and facilitating inward investment into the city, by providing free services and support to help overseas and Mainland companies establish or expand their business presence in Hong Kong. For more information, please visit www.InvestHK.gov.hk.
Ends/Wednesday, September 3, 2008
Issued at HKT 15:31