Hong Kong and Guangdong join hands in encouraging Indian corporations to set up in the Greater Pearl River Delta Region

Top Quote The "Hong Kong-Guangdong Business Conference in New Delhi 2010" received an overwhelming response today (Oct 27) with over 1,000 top business leaders as well as representatives from the Governments of India, Hong Kong and Guangdong participating in the event. End Quote
  • (1888PressRelease) November 02, 2010 - The conference, jointly organised by Invest Hong Kong and the Department of Foreign Trade and Economic Cooperation of Guangdong Province, highlighted the combined business advantages that Hong Kong and Guangdong have to offer for Indian investors.

    It is the first time a conference of this scale has been hosted by the Governments of Hong Kong Special Administrative Region (HKSAR) and Guangdong Province in India. The Ambassador of the People's Republic of China to India, Mr Zhang Yan, and the Minister for Human Resource Development of the Indian Government, Mr Kapil Sibal, officiated at the conference, and Chief Executive of the HKSAR, Mr Donald Tsang, and Governor of Guangdong, Mr Huang Huahua, delivered keynote speeches.

    Addressing the audience in the Conference, Mr Tsang encouraged Indian businesses to join the 1,500 Indian companies already operating in Hong Kong, and highlighted Hong Kong's strong appeal to growing numbers of international companies as a platform to reach Guangdong, the rest of the Mainland and the Asia-Pacific region.

    Focusing on the synergy of Hong Kong and Guangdong economic cooperation in the Greater Pearl River Delta Region (GPRD), Mr Tsang encouraged Indian corporations to establish a base in Hong Kong and make best use of the strong cooperation between Hong Kong and Guangdong as a winning combination for both local and overseas investors. "Hong Kong is Guangdong's largest trading partner and Hong Kong companies employ some 11 million-plus workers in the GPRD. Hong Kong has also benefited tremendously through transforming itself into a services-oriented economy to support the GPRD's development. Firms focusing on trading, logistics, financial and other professional services today contribute over 90 percent of Hong Kong's GDP."

    Speaking on the increasingly close economic ties between Hong Kong and India, Mr Tsang pointed out that with an Indian community of more than 27,000 people, Hong Kong is host to many of India's leading companies and entrepreneurs. The Air Services Agreement signed between Hong Kong and India in 2007 has also greatly facilitated air travel between the two places.

    He continued, "Hong Kong is also a familiar place for Indian entrepreneurs. English is the language of our business communities; we have similar legal systems, and we share common goals of openness, diversity and fair play. Apart from being right on the Mainland's doorstep, Hong Kong is a stable and dynamic global financial centre in the Asian time zone. We also share many of the characteristics cherished by entrepreneurs the world over including a fully convertible currency and free flow of capital."

    During the conference, representatives from two Indian enterprises, Chairman of Jet Airways, Mr Naresh Goyal, and Chairman of Asia Pacific, TCS, Mr Girija Pande, also spoke about their successful experience of operating their businesses in Hong Kong and Guangdong Province.

    About Invest Hong Kong
    Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas, Mainland and Taiwanese businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As it celebrates its 10th anniversary, Invest Hong Kong has completed over 2,000 investment projects creating over 25,000 new jobs in the first year of operation or expansion and HK$52 billion of investment. For more information, please visit www.investhk.gov.hk.

    For event photos, please visit http://www.flickr.com/photos/investhk/sets/72157625214849496

    For more information, please contact -

    Anu Chawla : 9899965560
    Bharat Joshi : 9811859775

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