Hong Kong Remains Attractive Investment Location

by Mary Swire, for LawAndTax-News.com, Hong Kong

13 July 2006

Hong Kong's Chief Executive Donald Tsang stated on Tuesday that despite the challenges the community faces, Hong Kong remains an attractive global business centre.

Welcoming new investors at a reception earlier this week, Mr Tsang revealed that one of the challenges is air pollution, and stated that the Government is taking active steps to deal with it.

He appealed to the business sector to do its part by ensuring manufacturing operations in the Pearl River Delta are as environmentally friendly as possible.

Noting the second challenge is the danger of "marginalisation", Mr Tsang said that Hong Kong people and the Government will remain alert both to dangers and opportunities.

Director-General of Investment Promotion Mike Rowse told those attending the reception that inward investment continues to flock to Hong Kong.

He revealed that as at the end of June, Invest Hong Kong had helped 156 companies invest or expand in the city, achieving more than half its annual target of 240 and representing an 8.3% rise on the same period last year.

These projects will create more than 4,285 jobs for Hong Kong. The involved investments will lead to the immediate creation of more than 1,699 jobs, and create at least 2,586 additional places in the next two years. Initial investment by these companies topped $6.82 billion.

The flow of Mainland investment in Hong Kong remains strong, Mr Rowse added, stating in conclusion that Mainland companies made up 13.5% of the department's completed projects in the first six months of this year, and now constitute 20% of the current live caseload.

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