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BASF Group, one of the global leaders in the chemical industry, today (July 4) officially celebrated its expanded Greater China and East Asia headquarters in Hong Kong.
"Hong Kong remains an important gateway for trading with China and with the rest of Asia," the President of BASF East Asia Regional Headquarters Limited, Dr Dietmar Nissen, said at the opening ceremony.
BASF, which is based in Germany, established its roots in Hong Kong in the early 1980s with a representative trading office. Hong Kong is now the home of the company's Greater China and East Asia headquarters with more than 260 employees.
On Hong Kong's competitive advantages, Dr Nissen said: "The professionalism of the working population and their industrious work attitude are among those qualities that we value here."
"Hong Kong's response to SARS demonstrates the vitality and the caring mind of the Hong Kong people which goes in line with our corporate philosophy to contribute to the communities where we operate. We look forward to pursue further business opportunities here in the years to come," added Dr Nissen.
The Associate Director-General of Investment Promotion at Invest Hong Kong, Ms Ophelia Tsang, attended the opening ceremony.
Congratulating the company to its new premises in Central, Ms Tsang said, "We are very happy to see that BASF is doing so well in Hong Kong and China -- and that the company has selected Hong Kong as its regional headquarters."
She said, "Our world-class infrastructure and well-trained multi-lingual workforce, as well as easy access to quality financial, legal and other professional services have made us a premier location not only for establishing a corporate presence in the Asia Pacific but also for managing the growth of a company's business within the region."
Ms Tsang added, "We welcome BASF and other multinational corporations to establish Hong Kong as a decision-making centre to manage their operations in the Asia Pacific. This is a win-win proposition for all concerned -- contributing to the success of the company's business while providing a boost to Hong Kong's economy."
BASF has experienced unprecedented regional growth during the last decade. The company is the largest foreign investor in China's chemical industry, with eight production facilities in the Mainland employing more than 2,600 people. The company currently operates four wholly-owned and eight joint venture facilities in cities like Shanghai, Nanjing and Guangzhou.
In 2002, BASF achieved sales of EUR1.4 billion in Greater China, an increase of 27 per cent over the previous year. Its total investment in Asia will reach about EUR5.6 billion by 2005.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here.
Ends/Friday, July 4, 2003
Issued at HKT 17:48
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