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In a major investment promotion event in Madrid yesterday (October 28), Spanish companies were encouraged to capitalise on the winning formula of investing in Hong Kong and Guangdong Province.
More than 1,300 senior local executives attended the 'Hong Kong ¡V Guangdong Business Conference in Madrid 2008', jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the People's Government of Guangdong Province.
After the opening remarks by Mr Miguel Sebastian, Minister of Industry, Tourism and Trade and Mr Qiu Xiaoqi, Ambassador of the People's Republic of China to Spain, Mrs Rita Lau, Secretary for Commerce and Economic Development of the Hong Kong SAR and Mr Huang Huahua, the Governor of Guangdong Province, delivered keynote speeches, encouraging Spanish investors to take advantage of the favourable investment environment with strong fundamentals, which are especially attractive in these troubled economic times.
Hong Kong and Guangdong have distinct advantages which complement each other and appeal to Spanish and other European companies. Guangdong is skilled and experienced in manufacturing and provides a large and increasingly sophisticated market for a wide range of products and services. Hong Kong's major assets include world-class trade and logistics support, capital, legal and business services, and international expertise. By working together, the two places can leverage on each other's strengths to develop economies and business opportunities in the region.
The conference also introduced and updated the latest business environment and investment opportunities in the Greater Pearl River Delta region (comprising Guangdong Province, Hong Kong and Macau SARs), one of the fastest growing areas in China. Mr Jose-Miguel Roca, CEO of Roca Corporation, shared his successful experiences in investing in the region.
Speaking at the Conference, Mrs Lau told the business leaders about the close relationships between the two cities. She said, "During the past quarter century, Hong Kong and Guangdong Province have combined and leveraged our respective strengths to develop one of the world's most efficient and cost-effective manufacturing supply chains. Hong Kong provides the capital, management, technology, market knowledge and access to international markets while PRD cities offer world-class low-cost manufacturing, and access to a new, demanding consumer base."
In the afternoon of the same day, there was also a "Hong Kong Business Seminar" co-hosted by Invest Hong Kong, the Hong Kong Economic & Trade Office in Brussels and the Hong Kong Trade Development Council to highlight Hong Kong's strategic role in assessing the China market.
Speaking at the seminar which attracted 250 participants, Mr Mike Rowse, Director-General of Investment Promotion at Invest Hong Kong said: "With a mix of international and China experience, Hong Kong serves as a springboard for your China business. It is a low-risk starting point where Spanish companies can take advantage of both the familiarity of international practices and knowledge of China market."
"Hong Kong and Spain have developed close economic ties. In 2007, the total trade between two places amounted to Euro 2.2 billion, making Spain our seventh trading partner from the EU. Some 100 Spanish companies are doing business in Hong Kong and about 20 of them operate as regional headquarters and regional offices. They are active in banking, financial services, logistics, fashion, trading, retailing and many other areas. Several Spanish companies like BBVA, Banco Santander, El Corte Inglˆms, Zara and Mango are doing thriving business in Hong Kong. We look forward to welcoming more of you to join the thousands of international companies involved in the China trade which have established "beachheads" in Hong Kong. We at Invest Hong Kong stand ready to help you achieve your business objectives." Mr Rowse remarked.
Ends/Wednesday, October 29, 2008
Issued at HKT 15:47
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