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A leading developer and manufacturer of power transmission, conveyor and processing belts in Switzerland has selected Hong Kong as its regional headquarters and fabrication and distribution centre to tap the potential of the growing Greater China market.

The Swiss firm, Habasit AG, is headquartered in Reinach-Basel. Its affiliated company, Habasit East Asia Ltd, held an opening ceremony today (October 29) at its office and workshop in Sheung Shui.

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, was the guest of honour at the ceremony.

The General Manager of Habasit East Asia Ltd, Mr Henry Jong, told Mr Rowse that Hong Kong is the best place to serve Habasit's markets in Mainland China and Taiwan due to its free port status.

Mr Jong said: "Hong Kong provides an ideal environment for our company to grow in Asia. With its sound financial system, its pool of high quality manpower and the efficient government machinery, Hong Kong is a superb location for our East Asia regional headquarters. These competitive edges can further guarantee investment security."

"China's recent entry into the World Trade Organisation offers additional opportunities for Habasit and, with Hong Kong as the gateway, we aim to take advantage of the growing demand for our products in Greater China," Mr Jong added.

He pointed out that Hong Kong can be made the bridgehead for Habasit's long-term policy of investing more in China.

At the ceremony, Mr Rowse officially welcomed Habasit's move to Hong Kong. He said: "We are delighted that Habasit set up its East Asia regional headquarters in Hong Kong. It shows how an international group with a strong business interest in the Greater China market can benefit from our geographic location, as well as from the world-class infrastructure we offer to investors."

"Companies like Habasit demonstrate that Hong Kong can be a profitable fabrication and distribution centre for high value-added products," he stressed.

"We welcome multinational corporations to leverage on Hong Kong as a decision-making centre to manage their growing business in the Asia Pacific region. They will contribute to business spending and create jobs, providing a boost to Hong Kong's economy," added Mr Rowse.

Habasit has offices and factories in 70 countries and 1,980 employees around the world. Global sales revenue in 2000 was HK$2.1 billion.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department tasked with attracting and assisting foreign-owned companies to set up here. It supports potential investors by facilitating their investment planning, implementation and expansion processes in the territory.

End/Tuesday, October 29, 2002

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