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| Cepa privileges open doors to the mainland ( 01/11/2005 ) | |||||||||
Tony Nozaki, managing director of NYK Logistics Hong Kong, a subsidiary of leading global shipping carrier NYK Line, said Cepa has opened up the mainland considerably for Hong Kong logistics companies and overseas firms with Hong Kong offices. "As our clients are growing, they are undertaking more business in the centre and north of the mainland, so our business will expand with them. Cepa has made this strategy possible and has opened up the mainland considerably for logistics companies," Mr Nozaki said. Through Cepa, Hong Kong companies are allowed to set up wholly owned enterprises to provide logistics services to the mainland, including land transportation, storage, freight forwarding and other logistics services. Hong Kong's crucial role "Our Hong Kong office will continue to provide a crucial role in this mainland network as we centralise functions like management and headquarter services in Hong Kong for spearheading and managing our investments there," added Mr Nozaki. NYK Logistics (Hong Kong) Limited was one of the first companies to apply for Cepa with all formalities completed in October 2004. Since then, it has set up two new 100 per cent owned subsidiaries in Shenzhen, southern China. "From Cepa application to commencement of operations, it took us around four to six months," Mr Nozaki said. Alex Okamoto, director and general manager of international solutions division, said invaluable assistance was provided by InvestHK, a government agency tasked with attracting foreign investment to Hong Kong. "InvestHK was very proactive and provided practical information on Cepa and contacts for the application process. This is helpful, not only for new investors but also veteran companies like us, with over 40 years of operating experience in the city." NYK Logistics started operations in Hong Kong in the 1980s. Mr Okamoto said the Japanese logistics provider was attracted by "Hong Kong's strong, efficient and reliable infrastructure, especially in container handling and ports and land connectivity". Free port advantage "Hong Kong's free port status is also key for our industry. Export procedures are flexible and customs clearance requirements are very simple," added Mr Okamoto. Both Mr Nozaki and Mr Okamoto agreed that there are plenty of opportunities with Cepa privileges granted to Hong Kong companies. "Look closely at the business opportunities presented by the Greater Pearl River Delta. The potential of this area is huge and increasing." Their advice: "Keep a significant base in Hong Kong. With the city's strong legal framework and free port status, it is an ideal place to conduct business, liaise with clients and centralise services like management and marketing for the region." Related links | |||||||||
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