More than 350 French business leaders today (October 15) attended the first
of three major conferences organised this week by the Hong Kong Trade
Development Council (TDC) to inaugurate the Council's promotion of Hong Kong's
services economy in Europe.
A 19-member Hong Kong delegation, led by TDC Chairman Dr Victor Fung, is
pursuing two main objectives: to attract more European companies to use Hong
Kong as their hub for business services in Asia and to foster strategic
alliances between service providers in Europe and Hong Kong, especially to
develop business within the Asia-Pacific.
The mission is also talking to European business leaders about Hong Kong's
confidence in its prospects as a business hub long after the transfer of
sovereignty next year.
"This is the first promotion TDC has organised in Europe specifically
to promote Hong Kong's services economy, a major new emphasis of the Council,"
said Dr Fung.
"The level of interest shown by businessmen in Paris is a strong
indication of a growing urge in Europe to tap Asia's business potential.
"The thrust of our message in Paris, Frankfurt and Berlin this week is
that Hong Kong, with its strong services economy, is the best base and partner
for European companies in Asia."
The French Minister of Foreign Trade, Mr Yves Galland, was guest of honour
at the opening of today's (Tuesday's) business conference in Paris.
Mr Galland said that Hong Kong has successfully transformed from a
production oriented economy to that of a services economy where 83 per cent of
GDP is from the services sector.
"This transformation has been done in a dreamed situation with almost
full employment throughout.
"French companies know very well and use fully the services Hong Kong
has to offer, and not just in infrastructure and financial services, but in
distribution, marketing, engineering and professional services.
"It has developed well as a gateway-com-regional centre for French
companies in Asia and China.
"The key success of Hong Kong is its dynamic business environment and
its extraordinary entrepreneurism where government does not dictate but it
instead lays down very realistic rules that allow business to develop," Mr
Galland told the audience.
Delivering the keynote address at the conference, Dr Fung said that Hong
Kong is facing its future with confidence.
A strong, robust economy and the an expanding role for the territory as a
services hub for international businesses in Asia, underpinned Hong Kong's
strong prospects as a business cnetre far beyond 1997.
Dr. Fung noted that Hong Kong is at the leading edge of trade and investment
flows in the region.
"Everyone says trade follows investment - that the two are inseparable
and that investment generates trade. If this is the case, as I believe it is,
then Hong Kong is in poll position to compete in the 21st Century,'' said Dr.
Fung.
Speaking in a plenary session during the seminar was the Head of Office for
the European Commission in Hong Kong, Mr Etienne Reuter.
"Hong Kong matters a great deal to Europe. It is, for the European
Union, a most important trading partner, as well as a prime location for doing
business with China and in the region," Mr Reuter said.
Hong Kong is the European Union's third largest trading partner after China
and Japan, and before the United States.
"Europe has big stakes in the economy of Hong Kong; where more than
50,000 citizens from the 15 European member states live and work.''
Mr Reuter noted that there are more than 40 banks, 40 insurance companies,
nine airlines, 115 companies involved in construction and 100 industrial
establishments from Europe in Hong Kong.
"Hong Kong's future destiny will always be important to the European
Union. Europe will continue to be an active supporter as well as a grateful
beneficiary of the great city that is Hong Kong.''
Also speaking was the Head of Project Finance and Syndications of the HSBS
Investment Bank Asia Ltd, Mr Simon Moules. He said Hong Kong is not
only a leading force in trade and investment flows in Asia, but it has become a
hub for sourcing funds also, especially in regional infrastructure projects.
"With its long and successful history of private sector financing of
infrastructure, Hong Kong is a role model for infrastructure development in
Asia," said Mr Moules.
"Through its own experience of infrastructure projects, reinforced by a
conducive business environment, Hong Kong has become a regional centre of
expertise not only for financial advisers, but also legal advisers and other
technical consultants required for the implementation of project financing.''
The Chairman of the Securities and Futures Commision, Mr Anthony Neoh,
addressed the conference on Hong Kong's competitive strengths as a services
base, especially for financial services.
"Hong Kong has become one of the leading international financial
centres of the world because it has world class financial infrastructure and
regulation which are of internationally recognised standards.
"This will place Hong Kong in a strong position as a financial hub to
help China and the region to benefit from their strong economic growth expected
in the next decade," Mr Neoh said.
The Chairman of DHL International (HK) Ltd, Mr Chung Po-yang, highlighted
synergies between service providers in Europe and Hong Kong which could be
deployed in the development of business across the region.
"As the most liberal economy in the world Hong Kong is well-placed in
Asia to set up joint ventures and find strategic partners for international
companies interested in using Hong Kong as a base with easy access to
international support services using local and expatriate professionals,"
Mr Chung said.
Other members of the Hong Kong delegation led a series of specialised
workshops after the plenary session to promote business-to-business dialogue.
Subjects included "Funding Asia's Growth"; "Marketing France in
Asia" and "Telecoms: New Frontiers for Partnership."
TDC's European business conferences will continue in Frankurt, on Thursday
(October 17), and Berlin on Friday (October 18).
Similar conferences and services promotion roadshows were staged earlier
this year in Southeast Asia, the United States and, last month, in Australia.
For press enquiries, please contact Mr William Cheung of the TDC Publicity
Services Department on (852) 2584 4333.
