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The Secretary for Commerce and Economic Development, Mr Gregory So, said today (June 30) at the fDi Forum Asia 2015 that Hong Kong is an ideal place for investment.
"According to the World Investment Report 2015 published just last week by the United Nations Conference on Trade and Development, Hong Kong ranked number two in global FDI (foreign direct investment) inflows, second only to Mainland China. At the same time, Hong Kong was the world's second largest outward investing economy, second only to the United States. In particular, we have a significant volume of trade and investment flows with Mainland China," Mr So said.
As at the end of 2013, inward direct investment (IDI) from the Mainland to Hong Kong was HK$3.3 trillion, accounting for 32 per cent of the total IDI in Hong Kong. Reciprocally, outward direct investment from Hong Kong to the Mainland was HK$3.95 trillion, accounting for nearly half of the total for Mainland China.
Mr So pointed out that the figures had demonstrated Hong Kong's status as the most important investment conduit for Mainland China. With the "One Belt, One Road" initiative announced by the Central Government, it will certainly expand Mainland China's transcontinental connectivity, and promote economic, political and cultural co-operation and development from Asia through Africa and into Europe.
"As Hong Kong is a major international financial centre for Mainland China, we have the experience, the expertise and the connections to serve as the fundraising and financial management hub for 'One Belt, One Road'. Foreign investors will definitely benefit from the 'One Belt, One Road' initiatives by establishing a foothold in Hong Kong to seize the business opportunities," he added.
To make Hong Kong an ideal place for investment, Hong Kong is striving to conclude Free Trade Agreements as well as Investment Promotion and Protection Agreements with the ASEAN countries, India and countries in the Middle East. Hong Kong will spare no effort to enter into more Comprehensive Double Taxation Agreements with major trading partners to promote Hong Kong's favourable tax status and enhance its tax transparency internationally.
"We encourage overseas and Mainland companies, large or small, as well as start-ups and entrepreneurs, to establish a presence or expand their business in Hong Kong. We stand ready to offer one-on-one facilitation services to them through the dedicated efforts of our government agency, Invest Hong Kong. Our aim is to make investing in Hong Kong as simple and easy as possible," Mr So said.
Ends/Tuesday, June 30, 2015
Issued at HKT 18:44
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