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The Chief Executive, Mr Tung Chee Hwa, said one of the cornerstones of his policy platform was the promotion of innovation and technology for adding value to Hong Kong's economy against the background of the globalisation process, the brutally competitive international landscape and the impact of technological application.
He made the remarks at a reception hosted today (July 11) for about 200 chief executive officers and senior representatives of overseas and mainland companies that recently established a business presence or expanded operations in Hong Kong.
"There is a clearer degree of recognition, particularly within the business community, that innovation and technology holds the key to the future of Hong Kong. With our hard work over the last five years, it is a modest beginning, but a good foundation is being laid," he said.
He said the various programmes and projects under way would enhance Hong Kong's productivity, strengthen its competitiveness and identify new engines of growth.
"Our detemination to support investment in research and development, together with other reforms in related areas, notably education, and the impact of the Mainland's continued rapid growth in the wake of its accession to the World Trade Organisation, will be able to bring Hong Kong to new heights in the coming years," he said.
The guests at the reception represented over 100 overseas and mainland companies that set up operations or increased their overall investment in Hong Kong between July 1, 2001 and June 30, 2002. Their collective decisions reaffirm Hong Kong's position as the premier location for international businesses in the region.
Mr Tung expressed his gratitude for the continued international support, which led to a significant increase in regional headquarters and regional offices here totalling 3 237 as at June 1, 2001, an all-time high.
"I am particularly delighted that we have a number of Mainland companies joining us this time. This underlines our increasing role as a gateway for successful Mainland enterprises to expand overseas," he said.
He noted that many companies set up offices in Hong Kong because Hong Kong was the best place in the world for doing business and the growth of the Pearl River Delta offered tremendous potential for companies around the world.
"We are determined to maintain and enhance our advantages to ensure that we retain the best business environment in Asia," he said.
The acting Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, was also present at the reception.
Mr Galpin said, "Hong Kong's mature and sophisticated infrastructure combined with a pool of high quality and well-educated business professionals is recognised all over the world."
"Investors such as yourselves continue to see the enormous benefits of our strategic location at the heart of Asia, our rule of law, our free flow of information and capital, corruption-free government and our commitment to keeping a level playing field for both local and international companies," Mr Galpin added.
End/Thursday, July 11, 2002
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