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Three thriving European entrepreneurs have testified that Hong Kong is indeed the gateway to success in Asia. They shared their experiences of doing business in Asia's world city with other potential investors at half-day business seminars organised by the Hong Kong Economic and Trade Office, Brussels, in Namur, Belgium, and in Rotterdam, The Netherlands, on June 9 and 10 respectively.
At the seminar in the city of Namur, organised in co-operation with the Wallonia Foreign Trade and Investment Agency (AWEX), Mr Jean-Pierre Lutgen, the Chief Executive Officer of Ice-Watch and the designer of its colourful timepieces that have become sought-after fashion accessories worldwide, said he opened an office in Hong Kong in 2004 before creating the brand in 2007. Since then the company has gone from strength to strength and its products are now available from over a thousand retailers in around 30 countries.
Mr Lutgen said while its favourable tax regime was an important consideration, it was even more important to find well-educated, business-minded staff. "It is easy to find all the necessary services in Hong Kong, which has a wonderful airport, a very secure administration and is a very safe city. It is a great city for entrepreneurs because they get good feedback," he said.
Belgian telecommunications company IP Trade, which provides specialised communication systems for stock exchange trading floors, airports, emergency centres and others, conducts its core business in cities with strong financial services like London, New York, Hong Kong and Tokyo. Sales Director Mr Benoit Dewonck said that 18 months ago, the company decided to open an office in Hong Kong. The main reasons for choosing Hong Kong over other possible cities in Asia was its business-friendly culture and ideal geographical location. "Hong Kong being the ideal hub, we want to expand to the rest of the region", Mr Dewonck said. It was both easy and inexpensive to set up a company in Hong Kong, he said. The city's strong intellectual property protection legislation and reliable common law system were major advantages. Noting that "the value of my company is in its software", he stressed that "IPR protection is very important for start-ups".
Mr Pieter Remstedt, Director of sporting goods company Texport, shared his long experience of doing business in Hong Kong at the Rotterdam seminar, attended by over 100 Dutch business people. Mr Remstedt, who first worked in the city in 1969 and who in April this year became the Chairman of the Advisory Committee of the Hong Kong Chamber of Commerce in the Netherlands, said he believes that Hong Kong is simply the best.
Asked by participants why Dutch companies should establish their regional office or headquarters in Hong Kong in preference to another Asian city, Mr Remstedt strongly recommended Hong Kong, and said that there was no better choice. Based on his experience of doing business in Hong Kong, Shanghai and Bangladesh, where his company has overseas offices, he said he found Hong Kong is the most competitive city with the best business environment.
The Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow, underlined that in Hong Kong, there is legal protection for contracts, a stringent intellectual property protection regime and a strong anti-corruption culture within the public service and the wider community. Hong Kong is the largest investor in the Mainland of China with a lot of experience in the Mainland's culture and procedures. "With these attributes, Hong Kong would be a good partner for European companies intending to expand to Asia", Miss Chow said.
Other speakers at the seminars were Mr Siegfried Verstappen, Senior Investment Promotion Executive for InvestHK, and Mr Martin Evans, Regional Manager (Europe) Corporate Communication, of the Hong Kong Trade Development Council.
Local tax experts also gave presentations in both cities explaining the advantages of the Avoidance of Double Taxation Agreements that Hong Kong has concluded with Belgium, and more recently, with the Netherlands.
Ends/Friday, June 11, 2010
Issued at HKT 19:31
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