**********************************************************
About 120 top Swedish business executives attended the investment promotion seminar in Stockholm, Sweden on April 20 (Stockholm time) jointly held by Invest Hong Kong of the Hong Kong SAR Government and Fujian Provincial Department of Foreign Trade and Economic Cooperation (Fujian DOFTEC).
The seminar, entitled "Hong Kong and Fujian – Your Ideal Partnership in China", was officiated by the Ambassador of Embassy of the PRC in Sweden, Mr Chen Ming-ming; Director-General of Hong Kong Economic and Trade Office (London), Ms Sarah Wu; and Consul-General of Sweden to Hong Kong, Mr Lars Danielsson.
In his keynote speech, Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin emphasised the advantages of Hong Kong for Swedish enterprises when they expand their business into the Mainland and Asia Pacific market. He said, "For Swedish companies, Hong Kong is a natural base for managing regional operations and activities. Given its geographic advantage and sound infrastructure, Hong Kong is also the ideal platform for Swedish companies moving into Mainland China."
In 2008, trade between Hong Kong and Sweden totalled some US$1.6 billion. The Swedish business community in Hong Kong is a vibrant and diverse group, covering a wide range of economic sectors, including telecommunications, electronics, engineering, banking and finance, transportation, machinery, logistics and shipping. Ericsson, H & M, Volvo Cars HK, SAS, IKEA, Svenska Handelsbanken and ICA Global Sourcing are amongst the well-known Swedish companies, which have operations in Hong Kong.
"Since the establishment of Invest Hong Kong in 2000, we have assisted 24 Swedish companies in setting up or expanding their business presence in Hong Kong," Mr Galpin added.
The implementation of the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and the Mainland provides Swedish companies with preferential and accelerated market access to 40 key service sectors in the Mainland, and zero import tariffs on Hong Kong-made goods.
The Deputy Director-General of Fujian DOFTEC, Mr Zhang Qiu said, "Fujian Province is at the juncture of China's most economically developed areas, with the Yangtze River Delta to its north and Pearl River Delta to its south. Among the first provinces that opened up to world trade, Fujian is now one of the most dynamic areas in China, with one of the highest economic growth rates. Last year our per capita GDP reached US$ 4,337."
Fujian has developed three pillar industries: electronics and information, machine building and petrochemicals. By the end of 2008, over 42,000 foreign enterprises had established business in Fujian, with paid-in foreign capital of US$84 billion, one-tenth of the total foreign direct investment in China. Sweden is also our important trade partner. Last year the bilateral trade volume has reached US$281 million.
The General Manager (Hong Kong) from Svenska Handelsbanken, Mr Kenneth Öst and the Director of Buying from ICA Non Food, Mr Roger Halvarsson shared their successful experience in operating in Hong Kong and Pan-Pearl River Delta. In addition, Mr Björn Aschan from Advokatfirman Björn Aschan AB provided the audience with practical tips for doing business in Hong Kong and Mainland China.
Representatives from Invest Hong Kong and Fujian DOFTEC also hosted one-on-one meetings with individual participants who were interested in setting up their business in Hong Kong and the Mainland.
Ends/Tuesday, April 21, 2009
Issued at HKT 10:01
NNNN
