Three Silicon Valley companies have signed up as tenants at the Science Park, adding to the growing number of international firms setting up operations in Hong Kong to access business opportunities in the region.

REnex Technology, which develops advanced wireless technologies for industrial applications, and semiconductor companies Pericom and AnalogicTech will take space at the 93,000 square metre park under construction near Tai Po.

"We see the Hong Kong Science Park as an example of Hong Kong's prominence as a gateway to Asia," REnex chief executive officer Robert Chen said. "It is a strategic decision for REnex since Hong Kong is located in the middle of its two targeted customer bases: the US and China. Being close to our customers is extremely important to us."

According to the chairman of Hong Kong Science and Technology Parks Corporation, Victor Lo, Hong Kong offers speedy but low-risk entry to China, which is the key attraction offered by the Science Park.