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Hong Kong is the best partner for Japanese enterprises seeking to expand into the overseas market, the Principal Hong Kong Economic and Trade Representative (Tokyo), Ms Sally Wong, said at a business seminar in Oita, Japan, today (October 31).
"Doing business in Hong Kong, and through Hong Kong to Mainland China, Asia and the global markets, means that you are protected by the laws of Hong Kong, which are based on the common law system.
"Our skilled and talented personnel, who understand both the international practices and the intricacies of doing business in China and other parts of the world, can guide you through the business setting up process, shorten the time frame, save costs and achieve results with much less pain.
"As you go about doing business or staying in Hong Kong, you can enjoy all the freedoms and rights, the pluralism and cosmopolitan outlook and our unique and fascinating blend of Eastern and Western cultures, and you can feel the vibrancy of the city," Ms Wong elaborated.
Noting that Japan is the sixth major source of inward direct investment into Hong Kong, Ms Wong pointed out that many Japanese companies have successfully leveraged on Hong Kong's unique advantages for entering the Mainland China market or the global market.
These advantages include practising free trade and free markets, maintaining a free flow of capital and information, and having no foreign exchange controls and a simple and low tax system.
With its strategic location on the doorstep of China and in close proximity to Southeast Asia, Hong Kong is well connected to cities worldwide, making the city the best logistics hub in Asia, Ms Wong added.
Japanese businesses can also enjoy the same benefits of the unique trade pact signed between Hong Kong and the Mainland, the Closer Economic Partnership Arrangement, as local companies do so long as they are incorporated in Hong Kong or partner with a Hong Kong firm.
"Of the 7,250 overseas companies which have set up headquarters or offices in our city, more than 1,200 are set up by Japanese companies, which make up the second largest group of overseas companies next to those from the United States," she said.
Ms Wong also told some 180 guests at the seminar that apart from being a leading international business and financial centre, Hong Kong has many attractions for visitors, as well as opportunities for the travel industry, given the city's interesting sights and plentiful events throughout the year.
Also speaking at the seminar on doing business in Hong Kong were the Investment Relations Officer of Invest Hong Kong, Mr Yukio Sasaki; the Director of the Hong Kong Trade Development Council in Osaka, Mr Masahiro Ito; and the Manager of the Overseas Sales Division, SANWA SHURUI Co., Ltd, Mr Makoto Togo.
The business seminar was organised by the Hong Kong Economic and Trade Office (Tokyo), aiming to strengthen economic and trade ties between Hong Kong and Japan. It was also an event to celebrate the 15th anniversary of the establishment of the Hong Kong Special Administrative Region.
Ends/Wednesday, October 31, 2012
Issued at HKT 14:43
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