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HK's competitive advantages recognised

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The Chief Executive, Mr Tung Chee Hwa, met the Chairman and Chief Executive Officer of Dynegy, Inc, Mr Chuck Watson today (June 26).

Dynegy, Inc, which ranked 54th on the Year 2000 FORTUNE Global 500 company list, has set up its Asia Pacific Regional Office in Hong Kong in September last year. The US-based Dynegy, Inc is a leading provider of energy and communications solutions to customers.

"I am pleased that Dynegy has joined the league of multinational corporations setting up regional headquarters or offices in Hong Kong," Mr Tung said.

"The number of such offices has grown from 2,500 to 3,000 last year and has helped create jobs for Hong Kong people," Mr Tung said.

Mr Tung updated Mr Watson on Hong Kong's investment environment and the benefits to multinational corporations (MNCs) of siting their regional headquarters in this "Asia's World City". The Director-General of Investment Promotion, Mr Mike Rowse, also took part in the discussions.

Mr Watson said: "The meeting was useful in gaining an understanding of the competitive advantages of Hong Kong as a springboard for expansion and as an intermediary in forming strategic partnership in the Asia Pacific, in particular China upon its accession to the World Trade Organisation."

"We are constantly looking for better ways to expand our competitive reach across regions and business lines, and leverage technology advances.

"Hong Kong is a leading international city with excellent infrastructure, efficient financial network, availability of managerial skills and political stability.

"We have full confidence in using Hong Kong as our Asia Pacific regional office to capture the growing business opportunities in information technology industry and telecommunications services in the region," he said.

Mr Rowse, head of Invest Hong Kong charged with attracting inward investment, welcomed Dynegy's budgeted investment of a large sum of money in the territory.

"Hong Kong is a commercial city with heavy demand for IT infrastructure. We are pleased to know that the funding would be used to construct top graded data centres here to provide a high tier technical platform for local organisations and MNCs operating in Hong Kong and Mainland China," Mr Rowse said.

"This will create jobs for the Hong Kong market. In fact, Dynegy has already employed local staff to take up key management and operational positions," he said.

"Our technological capability will also be upgraded with Dynegy's new investment aimed to enhance and better equip its local IT solution team through training and Hong Kong SAR Government's scheme on admission of Mainland professionals," he added.

Photo:The Chief Executive, Mr Tung Chee Hwa, pictured with the Chairman and Chief Executive Officer of Dynegy, Inc, Mr Chuck Watson, after a meeting at the Chief Executive's Office.

End/Tuesday, June 26, 2001

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