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Hong Kong-Canada Link in IT
Press Release - Jaunary 11, 2001
Hong Kong could benefit from Canada's experience in information technology (IT), the Director of Hong Kong Economic and Trade Office, Mrs Rosanna Ure, said.
Speaking at the luncheon hosted by the Hong Kong-Canada Business Association (Toronto), she said the Canadian government's policy of high connectivity and the private sector's innovative and entrepreneurial endeavours impressed Hong Kong.
"We feel that Hong Kong could certainly learn a lot from the Canadian experience," Mrs Ure said.
Under the Memorandum of Understanding signed in 1998 between Hong Kong and Canadian governments, both governments are committed to encourage co-operation include technology and business partnerships, educational and learning exchanges and exchanges in policy and regulatory information.
Mrs Ure said over the past 12 months, the Economic and Trade Office in Canada had assisted 10 Canadian companies in their business ventures in Hong Kong, seven of which were IT or telecommunication-related.
"We actively seek out the niche companies and invite them to take a good look at Hong Kong's potentials and the favourable investment environment.
"I am happy to note that many Canadian firms, which have decided to invest in Hong Kong earlier, have experienced growth and good returns for their investment," she noted.
To promote exchanges between students of both places, the Economic and Trade Office and the Sheridan College in Oakville, Ontario, are organizing a multi-media award competition to allow students to demonstrate their creative talents. Deadline of entry is April 1, 2001.
For e-business investors in Canada, Mrs Ure said Hong Kong had major advantages, which included:
- Excellent telecommunications infrastructure and high connectivity
- World's freest economy for the seventh consecutive year ranked by the Heritage Foundation in the United States
- Free flow of information
- Low and simple tax regime
- Excellent banking and financial sector
- Commitment to building an e-competent workforce
She stressed with China's imminent accession to the World Trade Organization, Hong Kong's position as the gateway to the Mainland would be strengthened.
Hong Kong's superb telecommunications network would play a crucial role in positioning the city as the best place for Western investors to set up their regional base and logistic centre.
Mrs Ure also mentioned the survey of 8,000 North American, European and Japanese firms released by the Economist Intelligence Unit which reaffirmed Hong Kong's dominant position as a regional headquarters centre for the service industry.
"Through the concerted effort of the Hong Kong Special Administrative Region Government, the private sector and the community, we have empowered Hong Kong to forge ahead in the new millennium," she concluded.
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