Invest Hong Kong hosted a networking event, the Indian Community Cocktail Reception, yesterday to announce its upcoming conference in New Delhi co-hosted with the Department of Foreign Trade and Economic Co-operation of Guangdong Province, and to thank the Indian business community in Hong Kong for its contribution to the city’s economy.
Secretary for Commerce and Economic Development, Mrs. Rita Lau; the Permanent Secretary for Commerce and Economic Development (Commerce, Industry and Tourism), Ms. Yvonne Choi; the Consul General of India in Hong Kong, Mr. Gaddam Dharmendra; and the Chairman of the Indian Chamber of Commerce in Hong Kong, Mr. M Arunchalam, joined Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, to officiate at the cocktail event.
Mr Galpin said, “As India becomes one of the stronger BRIC economies, we see more and more Indian companies looking to expand in the region. Hong Kong is well positioned to be the launching pad for their outward foreign direct investment. The city offers sophisticated trade, finance and logistics support and also is a gateway to Mainland China. The Greater Pearl River Delta proposition (including Hong Kong, Guangdong and Macau) offers Indian companies an easy and familiar route to enter the Mainland China market.
“Over the years, we have conducted investment promotion trips to India to market the advantages of doing business in Hong Kong. As of end-June this year, we have assisted 40 Indian companies to set up or expand their business in Hong Kong, many of them from the banking, transport and industrial sectors.
“Next month we will co-organise a large scale business conference, the ‘Hong Kong-Guangdong Business Conference in New Delhi 2010’, on October 27 in partnership with Guangdong province, to talk to hundreds of Indian business leaders about the business advantages of HK and Guangdong.”
Allahabad Bank, Canara Bank, Chellaram Shipping (HK) Ltd, ICICI Bank Ltd, Jet Airways, Punjab National Bank, State Bank of India, Union Bank of India, UTI Bank and Uniworld Logistics Group are some of the successfully completed projects of Invest Hong Kong.
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Hong Kong and India enjoy very close ties in trade and investment. As of March 2010, total trade between the two places amounted to HK$104.9 billion. India imported HK$52.6 billion-worth of goods from Hong Kong in 2009.
The Indian business community has long played an important role in Hong Kong’s development. About 1,500 Indian companies have set up in Hong Kong. Today, Hong Kong’s India community amounts to some 45,000 persons, one of the largest ethnic communities in the city.
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.
About “Hong Kong-Guangdong Business Conference in New Delhi 2010”
Jointly organised by the HKSAR Government and the People’s Government of Guangdong Province, the “Hong Kong-Guangdong Business Conference in New Delhi 2010” will be held in New Delhi, India on October 27, 2010. For information about the Conference, please visit www.hkguangdongbusiness2010.com.
For event photos, please visit www.flickr.com/photos/investhk/sets/72157625042129032