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Invest Hong Kong announced today (January 22) that the department assisted 265 overseas, Mainland and Taiwanese companies in setting up or expanding their business presence in Hong Kong in 2009. This achievement marked a record for the Hong Kong Government's investment promotion arm in attracting Foreign Direct Investment (FDI) into the city. It also signified external investors' strong vote of confidence in Hong Kong despite the challenging global economic environment.
Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, said, "In the face of the global economic downturn, 2009 was a challenging year for Invest Hong Kong. The positive investment promotion results last year demonstrate that Hong Kong remains the base in Asia from which overseas, Mainland and Taiwanese companies prefer to expand their business.
"In these times of economic uncertainty, the enduring advantages of Hong Kong such as its rule of law, low and simple taxes, level playing field, free economy, world-class communications and transportation infrastructure, and available talent pool, have become increasingly important. They continue to enable the city to act as a stable and secure platform for companies looking to do business in the region and beyond," Mr Galpin said.
Highlights of 2009
In total, the 265 companies that Invest Hong Kong helped last year planned to create more than 6,000 new jobs within the first two years of their operation or expansion in Hong Kong.
Geographically, Asia Pacific, Europe and North America accounted for 43 percent, 35 percent and 18 percent, respectively, of the total number of Invest Hong Kong's completed investment projects in 2009. The Mainland continued to be the single largest market by source of completed projects, followed by the US and UK.
By priority sector, the top three performers were Business and Professional Services including education services and design, Technology including renewable energy, and Special Projects, which includes environmental technology and the wine sector.
Commenting on the role of Hong Kong as a base from which companies can expand their businesses, Mr Galpin said, "Hong Kong's strategic location and international exposure make it an ideal two-way service platform for Mainland companies to go global and for foreign companies to access opportunities in the Mainland."
Looking forward
Invest Hong Kong has realigned its priority sectors and strengthened its research and aftercare capabilities in order to encompass the six new growth industries where Hong Kong has a clear competitive advantage: namely, testing and certification, medical services, innovation and technology, culture and creative industries, environmental industry and education services.
In 2010, the Department will increase its activities to attract companies from emerging markets such as India, Latin America, the Middle East and Russia. In addition, Invest Hong Kong will continue to strengthen its marketing promotion efforts on the Mainland to assist corporations to expand internationally by using Hong Kong as their hub. It will also continue to organise joint promotion seminars with Mainland partners in key overseas cities to promote the combined advantages of Hong Kong and the Mainland, in particular the Pearl River Delta region.
Mr Galpin added that the Department's pipeline of live projects is stronger than ever. He said, "Investment promotion is crucial to our economic development and our long-term objectives of maintaining the status of Hong Kong as a leading location for international direct investment. Our target for this year is to achieve 270 completed investment projects."
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government responsible for Foreign Direct Investment, supporting overseas, Mainland and Taiwanese businesses to set up and expand in Hong Kong. We provide free advice and customised services to help your business succeed in our vibrant economy. For more information, please visit www.investhk.gov.hk .
Ends/Friday, January 22, 2010
Issued at HKT 13:00
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