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Hong Kong and Zhuhai join hands in encouraging Russian companies to set up in Greater Pearl River Delta region (with photos)

     Invest Hong Kong (InvestHK) and the Zhuhai Municipal People's Government today (August 28) co-organised a seminar in Moscow, Russia, to promote the combined business advantages of the Greater Pearl River Delta (GPRD).

     The Chairman of the National Agency for Direct Investment, Igor Vdovin, and the Chinese Ambassador to Russia, Mr Li Hui, spoke at the one-day seminar entitled "Hong Kong and Zhuhai: Your Business Partners in China", which marked the first joint promotion between the two cities in the Russian capital. The event offered participants the latest information on the business opportunities and economic environment in Hong Kong and Zhuhai, plus case studies and practical tips from executives of leading Russian companies that have successfully gained a foothold in the region via Hong Kong.

     In his speech to about 200 senior business executives in Moscow, the Director-General of Investment Promotion, Mr Simon Galpin, highlighted the unique advantages that Hong Kong has in the GPRD, which is home to more than 55 million people and plays a key role in spearheading China's economic growth.

     There are now an estimated 1,200 Russian nationals living in Hong Kong and bilateral trade between Hong Kong and Russia reached nearly HK$20 billion (US$2.6 billion) in 2011. Mr Galpin said that the synergy of Hong Kong and Zhuhai's combined advantages translates into multiple opportunities for Russian investors. These opportunities are particularly timely given the European debt crisis which is encouraging many Russian businesses to look to Asia rather than Europe for growth.

     Mr Galpin called on Russian companies to make good use of the economic ties between Hong Kong and Zhuhai, as stipulated in the Framework Agreement on Hong Kong/Guangdong Co-operation. With its enduring advantages, Hong Kong offers a reliable platform for Russian companies to manage their operations in Zhuhai and the GPRD, while seeking to expand into the wider Mainland China market, he added.

     Mr Galpin said, "Under the 'One Country, Two Systems' principle, Hong Kong has its own rule of law, low and simple tax system, free movement of capital, talent, goods and information, and a level playing field. All these make our city the perfect springboard for Russian companies to get access to Zhuhai and the GPRD, in their global expansion." He added that Hong Kong's role as the official offshore Renminbi centre added further appeal as Russian and other overseas investors could now settle their transactions with Mainland buyers and suppliers in Renminbi in Hong Kong.

     The Zhuhai Municipal People's Government Vice Mayor, Dr Wang Qingli, said that Zhuhai has witnessed unprecedented development opportunities in recent years. The "Framework for Development and Reform Planning for Pearl River Delta Region" released by the State Council of China slated Zhuhai as the core city and transportation hub on the west bank of the Pearl River Estuary. Dr Wang added, "The Central Government also sanctioned preferential policies not found anywhere else in China to stimulate Hengqin New Area's growth in financial innovation, land administration, customs clearance, taxation, industry and information technology."

     Zhuhai is now encouraging advanced manufacturing, high-end services and high technology, particuarly in eight industrial clusters, namely: electronic information, home electric appliances, biomedicine and medical devices, petrochemical, precision machinery manufacturing, printer and office automation consumables, yacht making and equipment manufacturing, and emerging industries featuring marine engineering equipment manufacturing, general aviation, new energy and environmental protection industries have also taken shape.  All of these present entrepreneurs from all over the world immense business opportunities.

     Dr Wang said, "Russian enterprises should make full use of Zhuhai's advantageous location with neighbouring Hong Kong and Zhuhai's competitive production costs to tap into the flourishing market in South China."

     Other speakers in the seminar included Deputy CEO & Head of Equity and Corporate Development, UC Rusal, Oleg Mukhamedshin; Marketing Director of Aviaexport, Alexander F Voinov; Partner of Eurasia Capital Partners Ltd and Deputy Chairman of HKGCC European Committee, Sergio Men; and Vice President for business development, Petrointrade, Andrey Rusak.

About InvestHK

     InvestHK is the department of the Hong Kong Special Administrative Region 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 at June 2012, InvestHK has completed over 2,600 investment projects creating more than 30,000 new jobs in the first year of operation or expansion and over HK$67 billion of investment. For more information, please visit .

     For event photo, please visit .

Ends/Tuesday, August 28, 2012
Issued at HKT 19:16


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