Hong Kong has placed much emphasis on trying to attract foreign corporations to set up their regional headquarters in the territory and last week its efforts paid dividends as US telecommunications firm Terayon Communication Systems announced that it was to do just that, citing Hong Kong's strategic location in the Asia Pacific region as the reason behind its decision.
Terayon is a provider of broadband voice, data and video systems that are deployed by cable television and telecommunications companies. Hong Kong's investment promotion unit, Invest Hong Kong, was instrumental in luring Terayon to the SAR, actively assisting Terayon in its move there. The agency's Director General, Mike Rowse, paid the company a visit last week and was told by Terayon's chief executive, Dr Zaki Rakib, that Hong Kong was a natural choice for the company.
Dr Rakib told him: 'We chose Hong Kong for our Asia Pacific headquarters because of the excellent advantages it offers. Thanks to its strategic location, our Asian customers - especially those in Mainland China - can visit us very easily by air, land or sea. In addition to its good infrastructure and transportation network, we can provide efficient customer support services from Hong Kong.'
Mr Rowse said: 'We are delighted that Terayon has chosen Hong Kong as the base for developing business in the Asia Pacific region. Terayon's establishment of a regional headquarters here reflects the importance of Hong Kong's pivotal role as a gateway to China and its advantages as an international business city. The investment is one of the latest in a series of companies who saw Hong Kong as an excellent base for expanding their Asian market, especially China.' He added: 'The presence of Terayon and other telecommunications companies in Hong Kong will strengthen our position as a world-class telecommunications centre. Their advanced broadband technology enhances Hong Kong's capability and helps to realise the vision to be a major international Internet hub and multimedia centre.'
The announcement that Terayon was to move into Hong Kong came just a day after Hong Kong's Chief Executive, Mr Tung Chee Hwa, urged Japanese businesses to make even better use of Hong Kong as a base to access the enormous potential of China's domestic market. At a lunch organised by the Hong Kong Economic and Trade Office in Tokyo, Mr Tung said that many international companies had used China to manufacture goods for export.
Mr Tung stressed the many advantages in Hong Kong for international business wanting to enter the mainland market. He said Hong Kong was an international financial, logistics and business centre with port and airport facilities among the best in the world: 'We have an abundant pool of professionals with excellent knowledge of doing business in China,' he said. 'Although many multinational companies have chosen to go into China directly, many have chosen to continue to use Hong Kong as their base for managing their business in South East Asia and in the Mainland of China. Some 3000 multinational corporations now use Hong Kong as a regional base, an encouraging increase over the 2500 a year before.'
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