Record year for investment promotion in Hong Kong 

Investment promotion in Hong Kong recorded strongly positive growth in 2005. The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, announced that the Department assisted 232 overseas, Mainland and Taiwan companies to set up or expand operations in Hong Kong during 2005, representing a substantial increase of 13% over 2004, itself a record year. 

The investing companies expect these projects to lead to the creation of over 7,900 jobs. More than $8.9 billion was invested by these companies, representing a 91% increase over last year’s record total.

Mr. Rowse pointed out that “many of these projects bring along special skills and experience to enrich our existing offerings as an international business hub. Our sector-focused teams will continue to identify, attract and facilitate investors from different sectors from all around the world.”

Among the international companies establishing or expanding their Hong Kong presence are European electronics company Schneider Electric and the Taiwan-based Fubon Group, which set up a fully licensed banking entity in Hong Kong. Baker Botts and Hogan & Hartson have joined the ranks of Hong Kong’s international law firms, while Australian labels manufacturer Z-tag (Asia) Limited has opened a factory in Hong Kong. 
Danish footwear giant ECCO has expanded its premises and operation in Hong Kong. The company will extend its regional reach to more markets from its base in Hong Kong, which currently manages all activities in Mainland China, Japan, Singapore, India, The Philippines, Thailand and Taiwan. 

Italian designer and manufacturer Braccialini showed its confidence in Hong Kong’s business environment with the opening of a regional office and two shops. CEO Mr. Riccardo Braccialini described Hong Kong as “One of the few cities where we see the potential to conduct various business functions for all of our brands.”

Meanwhile, the launch of SWE DES, Swedish Design Ltd., brings a unique concept in design to Hong Kong. With many products designed and developed in Europe actually manufactured in Asia, Managing Director Mr Johan Persson said, "It has become essential for designers to establish a platform closer to this part of the product development phase. We also hope to initiate co-operation and exchange of experiences in education, development and professional practices in the region." 

UK-based technology company Magna Frequency Components opened a regional office in Hong Kong. The Cambridge company is an industry leader in design, manufacture and supply of RF Components. Its Hong Kong office will serve as a regional hub, managing sales and technical support functions for all of its current and potential Asian customers. 
MiniCo Self-Storage has opened opened a second facility in Hong Kong. The company chose Hong Kong for its first location outside the US to introduce the new concept of professionally managed self-storage services. 

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