2003 Record Year for Investment Promotion

Invest Hong Kong (InvestHK) assisted 142 foreign companies to set up or expand operations in Hong Kong during 2003 – an increase of 21% compared to 2002. These projects, which brought in at least HK$2.49 billion and created more than 2,456 jobs, represent the fruits of the most successful year for investment promotion in Hong Kong. 

The Director-General of Investment Promotion at InvestHK, Mr Mike Rowse, said, “Despite challenges brought by SARS and difficult economic conditions during the first half of this year, companies continued to invest in our city and Hong Kong remains the preferred for international businesses serving the Asia Pacific region.”

Mr Rowse pointed out that Hong Kong remained 2nd in Asia in foreign direct investment (FDI) inflows and “a major destination for FDI globally”, a particularly impressive achievement when overall investment has been declining globally. 

Among the projects initiated in 2003 that had a significant impact on the economy is the joint-venture agreement for the design, construction and operation of a new International Exhibition Centre at Hong Kong International Airport. 

Targeted promotions by InvestHK have contributed to an influx of projects from the Mainland. The largest retailer of home electrical appliances in China, Gome Home Appliance, opened its first store outside the Mainland in Hong Kong. And China’s leading software maker UFSoft established its first overseas office in Hong Kong.

InvestHK’s performance has won international recognition. Strategic Direct Investor magazine presented it with “Best Overall Managed Investment Promotion Agency (IPA) in Asia Pacific. InvestHK was also named “Best North Asia IPA”, “Best IPA in Creating Partnerships” and “Best IPA in Attracting Financial Services Investment.”


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