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Invest Hong Kong (InvestHK) yesterday (August 29) hosted a seminar in Istanbul, Turkey, as the department works to increase its reach to potential investors in the Turkish economy, encouraging them to set up business in Hong Kong.
The one-day event entitled "Hong Kong: Right Place Right Time" attracted 120 participants from leading Turkish companies in diverse sectors. Speakers from InvestHK and collaborating bodies including the Hong Kong Economic and Trade Office in Brussels, the Foreign Economic Relations Board of Turkey (DEIK) and the Turkish Ministry of Economy presented updates on Hong Kong and its advantages as a location from which to expand across Asia.
Addressing the audience, the Director-General of Investment Promotion at InvestHK, Mr Simon Galpin, highlighted the opportunities Hong Kong has to offer for Turkish companies looking to expand into Asia, at a time when Europe's debt crisis and domestic demand slowdown are causing many businesses in Turkey to look to Asia for growth.
Mr Galpin said, "Turkey remains one of our target markets with growing potential. Turkish investors are welcome to leverage Hong Kong's enduring business advantages and its role as the two-way platform between China and the rest of the business world."
He explained that under the "One Country, Two Systems" principle, Hong Kong has its own rule of law, a low and simple tax system, free movement of capital, talent, goods and information, and a level playing field. All these make the city the perfect platform for Turkish companies to get access to China and Asia.
He further elaborated that Hong Kong's established strengths in the food and beverage, tourism, jewellery, wine, creative industries, logistics, trading and clothing industries, plus its enhanced ties with the Mainland offer ample room for Turkish companies to set up and expand into the China market. Moreover, Hong Kong's role as the official offshore Renminbi centre adds further appeal as Turkish and other overseas investors can settle their transactions with Mainland buyers and suppliers in Renminbi in Hong Kong, he added.
The Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow said, "Hong Kong and Turkey already enjoy excellent relations and we are very eager to boost our trade and financial relations with your country. The signs are encouraging." She noted that Hong Kong's imports from Turkey increased by 71 per cent in 2011 alone. "We are delighted to see that exchanges between Hong Kong and Turkey are increasing at all levels," Miss Chow added.
Turkey's Ministry of Economy Deputy General Manager, Mˆ¢ge Varol Ilicak, remarked, "In its export strategy, the Ministry of Economy defined Hong Kong as one of the 'target and priority markets of Turkey'. Turkish companies can benefit from the support of the Ministry of Economy for the lease of their overseas offices, their marketing activities, and trademark registration related to their exports for four years."
Speaker in the seminar also included President of the Asia Pacific Business Councils of the DEIK and Chief Executive Officer of KIBAR Holding, Mr Ali Kibar.
About Invest Hong Kong
InvestHK is the department of the Hong Kong Special Administrative Region (HKSAR) Government established in July 2000 to take responsibility for Foreign Direct Investment (FDI) 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 www.investhk.gov.hk.
For event photo, please visit www.flickr.com/photos/investhk/sets/72157631286262150/.
Ends/Thursday, August 30, 2012
Issued at HKT 13:28
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