 There
are expanded opportunities for Canadian businesses in the wine,
environmental technology, IT and innovation sectors.
In her speech, entitled "Global Financial Crisis: Hong Kong's
Game Plan and Canadian Opportunities" at a seminar last November
organized by the Vancouver Board of Trade and co-presented by
the Hong Kong-Canada Business Association and the Hong Kong
Economic and Trade Office (HKETO) in Canada, the Secretary for
Commerce and Economic Development, Mrs. Rita Lau, made the point
that although the current challenges are significant, Hong Kong
people have a proven track record of "turning crisis into
opportunity."
"Strong economic growth, increasing prosperity and lifestyle
changes have led to the Mainland becoming Asia's biggest wine
importer," she said. "And Hong Kong's reduced wine duty - from
40 per cent to zero - has made Hong Kong the first duty-free
wine port among major economies."
Mrs. Lau pointed to increased co-operation on environmental
protection in the Guangdong-Hong Kong region as another source
of business opportunities for Canadian providers of green
technologies and management practices.
The emphasis of the Mainland's 11th Five Year Plan on innovation
and technology similarly offers Canadian businesses in this
sector great potential to tap China's development via Hong Kong.
 To
promote confidence and monetary stability, the Hong Kong SAR
Government has implemented measures that include full guarantees
of deposits in authorized banking institutions and an enhanced
Special SME Loan Guarantee Scheme to help small and medium-sized
enterprises obtain bank credits and offer better protection for
exporters. Meanwhile, infrastructure projects, like the new
cruise terminal at the old Kai Tak airport site and the Hong
Kong-Zuhai-Macao Bridge that spans 29.6 km, will be expedited.
These projects provide opportunities for engineering,
construction, and related industries in Canada.
The November 2008 visit marked Mrs. Lau's first official trip to
Vancouver as Hong Kong's top trade official. She took the
opportunity to meet with the Mayor and with students of the
University of British Columbia. She also paid a visit to the
Port of Vancouver, the Emily Carr University, and an
award-winning IT company. |
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