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Invest Hong Kong (InvestHK) today (January 24) announced that the Department assisted 316 overseas and Mainland companies to set up or expand in Hong Kong in 2012, which represents an all-time high and a 4 per cent increase over a year ago.
The Director-General of Investment Promotion, Mr Simon Galpin, was delighted to see the increase in completed projects but noted that global uncertainties vis-a-vis the euro debt crisis and American economy remained a concern.
"2012 was another record year for InvestHK in terms of completed projects. The positive results showed that Hong Kong continues to attract overseas and Mainland investors because of its enduring advantages and new business opportunities," Mr Galpin said.
"In the year ahead, however, we will remain cognisant of global economic trends and continue to identify the sectors and markets which will reap the best benefits for Hong Kong. Our targets will include both multinationals and start-up businesses, which aspire to set up in our city," Mr Galpin added.
2012 Annual Results: Highlights
The 316 completed projects derived from 34 countries. Mainland China continued to be the largest single source of investment into Hong Kong with a total of 62 projects, followed by the US with 54 projects, the UK (29), Japan (27) and Germany (17). The 316 companies planned to employ 2 937 people in Hong Kong for their first year of set up or expansion, up 8 per cent from a year previously.
By broad sector definitions, the top three in terms of number of completed projects were "Transport and Industrial" (48), "Tourism and Hospitality" (46) and "Innovation and Technology" (43). By subsector, there was an increasing number of companies from the fashion apparel and asset management industries. These reflect the role of Hong Kong as China's international business and financial centre and its attractiveness to visitors and high net-worth individuals who are boosting the demand for retail and asset management.
By region, Europe led the field with 110 projects completed compared to 105 a year ago. Some 60 projects were from the Eurozone economies, up by almost 16 per cent compared to a year earlier. North America including Canada also reported growth, with 65 projects compared to 59 a year ago. Asia Pacific excluding Mainland China reported milder growth, with 74 projects compared to 73 a year previously.
By market, Germany was the fastest growing in Europe, with 17 projects compared to seven in 2011 (up 143 per cent over a year ago). In Asia, Mainland China and Japan were ahead (up 10.7 per cent and 17.4 per cent compared to a year ago, respectively). Meanwhile, almost 85 per cent of the 316 companies rated InvestHK's services as "very useful".
Looking Forward
Mr Galpin noted the rise in the number of German companies in InvestHK's portfolio and said, "We are delighted to see that German companies are choosing to set up in Hong Kong in growing numbers.
"Our city is not only popular for multinationals with global functions but is also increasingly a magnet for entrepreneurs who are attracted by the business convenience and opportunities it has to offer," Mr Galpin said.
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As of December 2012, Invest Hong Kong has completed over 2 700 investment projects creating more than 32 000 new jobs in the first year of operation or expansion and over HK$69 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit www.flickr.com/photos/investhk/sets/72157632591339560/.
Ends/Thursday, January 24, 2013
Issued at HKT 18:19
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