Hong Kong second most popular location for investment in Asia, says Mike Rowse.

142 overseas companies set up, or expanded operations in Hong Kong in 2003, up more than 20 per cent on 2002.

Hong Kong also ranked second in Asia, behind the Chinese mainland, in attracting foreign direct investment (FDI). Overseas investors pumped US$15 billion into Hong Kong in the first nine months of 2003, up from US$12.8 for the full year 2002.

The number of regional headquarters in Hong Kong reached an all-time high at 966. Another 2,241 companies operated regional offices here, up 3.2 per cent on the previous year.   

Mike Rowse director-general of investment promotion at Invest Hong Kong, said companies continued to see past Hong Kong’s short term difficulties when making investment decisions. “Hong Kong’s advantages including our first-class business infrastructure, free flow of goods and information, liquid capital markets, strong regulatory system and a low tax system continue to attract foreign companies to choose Hong Kong as their regional headquarters,” he said. 

Mr Rowse said foreign companies were also interested in the easier China access granted to Hong Kong-based companies by the Closer Economic Partnership Arrangement (Cepa), and that this had increased FDI into Hong Kong. He added that InvestHK would be stepping up efforts to interest overseas companies in the Hong Kong and Pearl River Delta region.

More details in InvestHK