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Doha Bank announced today (October 31) that it has opened its representative office in Hong Kong, aiming to leverage on the city's global financial centre status to further expand its business in the Asia Pacific region.
Doha Bank is one of the largest commercial banks in the State of Qatar, and the latest of a number of Gulf Cooperation Council (GCC) banking groups setting up in Hong Kong to tap the city's growing role as Mainland China's global financial centre.
The Group Chief Executive Officer of Doha Bank, Dr R Seetharaman, highlighted the uniqueness of the Hong Kong office and said, "Hong Kong is one of the major financial centres in Asia Pacific, and the gateway to China. Doha Bank Hong Kong Representative Office will act as a liaison to facilitate trade and investment flows between the GCC region and Hong Kong. It will help facilitate GCC companies which are looking to establish their business or looking to invest in Hong Kong, as well as companies which are operating in Hong Kong and looking to expand into the growing GCC market."
The Associate Director-General of Investment Promotion, Mr Charles Ng, said that the arrival of Doha Bank shows that Hong Kong is a strong magnet for international financial companies and banks alike. He said, "Hong Kong is an international financial centre and in addition to that we are playing an increasing role as Mainland China's global financial centre. This makes Hong Kong a reliable platform for banking and financial multinationals from which to expand into the Mainland and other important Asian markets."
About Doha Bank
Incorporated in 1978, Doha Bank provides domestic and international banking services for individuals and commercial, corporate and institutional clients. It has established overseas branches in Kuwait, Dubai (United Arab Emirates) and Abu Dhabi (United Arab Emirates), as well as representative offices in Japan, China, Singapore, South Korea, Australia, Turkey, the United Kingdom, Canada, Germany and Sharjah (United Arab Emirates). Currently, it is rated A2 by Moody's, A by Fitch and A- by Standard & Poor's. For more information, please visit www.dohabank.com.qa.
About Invest Hong Kong
Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas, Mainland and Taiwan businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As at September 2, 2013, InvestHK had completed 3 000 investment projects creating 33 950 new jobs in the first year of operation or expansion and over HK$78.6 billion of investment. For more information, please visit www.investhk.gov.hk.
Ends/Thursday, October 31, 2013
Issued at HKT 18:31
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