Swiss company selects Hong Kong as regional HQ

A leading developer and manufacturer of power transmission, conveyor and processing belts in Switzerland has selected Hong Kong as its regional headquarters and fabrication and distribution centre to tap the potential of the growing greater China market.

The Swiss company, Habasit AG, is based in Reinach-Basel. Its affiliated company Habasit East Asia Ltd held an opening ceremony today (October 29) at its office and workshop in Sheung Shui.

The company's General Manager, Mr Henry Jong, said Hong Kong was the best place to serve Habasit's markets in the Mainland and Taiwan due to its free port status.

"Hong Kong provides an ideal environment for our company to grow in Asia. With its sound financial system, its pool of high quality manpower and the efficient government machinery, Hong Kong is a superb location for our East Asia regional headquarters. These competitive edges can further guarantee investment security," he said.

"China's recent entry into the World Trade Organisation offers additional opportunities for us, and with Hong Kong as the gateway, we aim to take advantage of the growing demand for our products in greater China."

Mr Jong said Hong Kong could be made the bridgehead for the company's long-term policy of investing more in China.

Also speaking at the opening, the Director-General of Invest Hong Kong, Mr Mike Rowse, said he was delighted that Habasit had established its East Asian base in Hong Kong.

"This shows how an international group with a strong business interest in the greater China market can benefit from our geographic location, as well as from the world-class infrastructure we offer to investors," he said.

"Companies like Habasit demonstrate that Hong Kong can be a profitable fabrication and distribution centre for high value-added products.

"We welcome multinational corporations to leverage on Hong Kong as a decision-making centre to manage their growing business in the Asia Pacific region. They will contribute to business spending and create jobs, providing a boost to Hong Kong's economy," said Mr Rowse.

Habasit has offices and factories in 70 countries.

End/Tuesday, October 29, 2002