Japanese prefecture uses HK to strengthen its Asian exposure

Japan's Fukui Prefectural Government announced today (August 13) the opening of its first independent office in Hong Kong.

The new office is designed to address the increasing demand for consultation brought about by the rapid economic development in China and in the rest of East Asia.

Fukui's previous representation in Hong Kong was established in 1991 as part of the common office of the Japan External Trade Organisation.

The Director of the new Hong Kong Office, Mr Yoshikazu Kitagawa, said the office would play a strategic role in helping Fukui's growth industries to expand and exploit overseas markets.

"As the businesses in Fukui Prefecture grow, they look for opportunities in overseas markets. It is our mission to collect and analyse up-to-date economic information for them," he said.

"Hong Kong is situated in the heart of Asia, serving as the information, trade and distribution centre of China and Asia. The city plays a key role in helping us understand the situation in our target markets."

Fukui Prefecture has a population of about 830,000 and a GDP of about three trillion Yen. The main industries include textiles, spectacle frames, and machinery.

Mr Kitagawa said that as Hong Kong was a key market for the textile and optical industries, it would serve as a strategic location to keep abreast of the latest market developments. With its proximity to Guangdong province, Hong Kong played an important role as the central source of market information and activities.

Hong Kong was the fourth largest export market for Fukui in 2002, following the Mainland, the United States and South Korea. Some 20 textile, optical and chemical companies from Fukui have established their management and business base in Hong Kong and production centres in the Mainland.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, said the prefecture's new office reinforced Hong Kong's role as the key business hub in Asia.

"With the rule of law and free flow of information - combined with our unmatched location and excellent financial, telecommunications and transportation infrastructure - Hong Kong remains the premier location for both public and private sector organisations to establish and expand their operations in Asia," he said.

Ends/Friday, August 13, 2004