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The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, has begun a four-day visit to Israel -- the first by Invest Hong Kong to that country.

The trip has been arranged with the support of the Israel Consulate-General in Hong Kong and the Israel Export and International Cooperation Institute (IEICI).

Mr Rutherford is responsible for Invest Hong Kong's work with high technology companies. He is accompanied by the department's head of technology projects, Mr Simon Tsang.

The visit has been timed to coincide with the IEICI's seminar themed "Hong Kong as a Bridge to Business with China" which will be held tomorrow (July 8).

Mr Rutherford's presentation at the event will focus on the unique advantages of Hong Kong's "One Country, Two Systems" - including the Closer Economic Partnership Arrangement (CEPA) signed on June 29 between the Mainland and Hong Kong to provide tariff-free access for many Hong Kong-based goods and services.

He will also speak on Hong Kong's appeal as a base for carrying out R&D activities. This area will be elaborated on by the Senior Director of Hong Kong Science and Technology Parks Corporation, Mr John Lo. The Science Park is a US$2 billion infrastructure investment by the Hong Kong Special Administrative Region Government.

Mr Rutherford is making separate visits to a number of technology companies interested in learning more about Hong Kong's competitive advantages.

He said, "I am extremely excited to pay my first visit to Israel. The country has a strong reputation for producing home grown world-class technology companies."

Mr Rutherford continued, "I believe that having a presence in Hong Kong will appeal to those companies who want to take advantage of the fastest growing market in the world, the Greater Pearl River Delta. By using Hong Kong's experience of operating in the Mainland, Israeli companies can manage the risk of entering this exciting but still developing market."

Invest Hong Kong is the foreign direct investment agency of the Hong Kong SAR Government. The department is charged with attracting and assisting foreign-owned and Mainland companies by providing all the support needed to establish a business presence in Hong Kong.

End/Monday, July 7, 2003

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