Hong Kong Named As 'Asian City Of The Future' By FT Publication

by Mary Swire, Tax-News.com, Hong Kong

09 March 2006

Hong Kong has been selected as the overall winner in the 'Asian City of the Future 2005/6,' competition organised by fDi Magazine, part of the Financial Times Business group.

Hong Kong was the winner of 4 of the 7 categories, including Best Transport, Best IT & Telecommunications, Best Quality of Life and Best Foreign Direct Investment Potential.

Hong Kong also was the runner-up in the Best Human Resources category.

The magazine received more than 60 entries from investment promotion agencies, development authorities and national and regional governments. The panel of judges was comprised of fDi’s editorial team and business executives based in the Asia Pacific region.

Courtney Fingar, an fDi reporter, noted that:

"A member of the elite group of truly world-class cities on a par with London, New York and Paris, Hong Kong continues to fend off pretenders to its Asian throne."

"This is, in turn, the unique advantage that Hong Kong provides to its foreign investors, and it is one not to be underestimated: come and get a piece of the Chinese action, the city says, but from a safe, stable, somewhat familiar base camp. It is an alluring pitch that will ensure Hong Kong’s spot near the top of the FDI league tables for many years to come."

Welcoming the award, Mike Rowse, Director-General of Investment Promotion at Invest Hong Kong, the government’s promotional arm, stated: “It is a great result for Hong Kong to be named 'Asian City of the Future' by the leading periodical in the foreign direct investment field."

He added that: "It is our challenge at InvestHK to capitalise on this potential and win more investment and create more jobs for Hong Kong."

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