Chief Executive Welcomes New Investors

The Hong Kong Chief Executive, Mr Tung Chee Hwa, hosted a reception for new investors at Government House on July 12. 

Thanking the investors for their contributions to Hong Kong’s economic recovery, Mr Tung said: “Our business sectors, including overseas investors, have once again demonstrated their skills, drive and resilience and ability to take advantage of opportunities. 

“The companies here today have helped inward investment reach record levels during the past 18 months.”

Mr Tung pointed out that 2003 was the most successful year ever for investment promotion in Hong Kong. “Invest Hong Kong assisted 142 foreign companies to set up or expand operations in Hong Kong – an increase of 21% compared with 2002.” These projects brought in more than $2.5 billion and created over 2,450 jobs.

With over 3,200 regional headquarters and offices set up in Hong Kong, and an average of one foreign-owned company establishing regional headquarters in Hong Kong every week, it’s clear that International companies are aware of Hong Kong’s many attractions as the gateway to the Mainland.

Mr Tung said that China’s entry into the World Trade Organisation and the implementation of CEPA only increase the opportunities for Hong Kong-based foreign companies. Other important initiatives, such as closer co-operation with the Guangdong Provincial Government and the establishment of the Pan-Pearl River Delta Regional Co-operation and Development Forum, are helping to “break down obstacles to trade, while attracting more foreign capital, technology, management and talent, to reinforce the status of this region as one of the most dynamic centres of China and the world in the 21st century,” he added.

He reiterated that his Government, represented by Invest Hong Kong, “is in business to help you do business. We can supply a step-by-step guide to setting up in Hong Kong, we can help link you with business partners, we can guide you through the government regulations and requirements, we can provide sector-specific expert advice.”

Expressing confidence in the future, Mr Tung said: “We expect that more international firms will want to be close to the action. They will want to join the thousands of companies involved in China trade, like many of yours, which have established beachheads in Hong Kong.”

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