Indian Corporations wooed by Hong Kong and Guangdong for Greater Pearl River Delta Region

Hong Kong, CHINA, November 02, 2010 (Washington Bangla Radio / 1888PressRelease) - The conference, jointly organised by Invest Hong Kong and the Department of Foreign Trade and Economic Cooperation of Guangdong Province, highlighted the combined business advantages that Hong Kong and Guangdong have to offer for Indian investors.

It is the first time a conference of this scale has been hosted by the Governments of Hong Kong Special Administrative Region (HKSAR) and Guangdong Province in India. The Ambassador of the People's Republic of China to India, Mr Zhang Yan, and the Minister for Human Resource Development of the Indian Government, Mr Kapil Sibal, officiated at the conference, and Chief Executive of the HKSAR, Mr Donald Tsang, and Governor of Guangdong, Mr Huang Huahua, delivered keynote speeches.

Addressing the audience in the Conference, Mr Tsang encouraged Indian businesses to join the 1,500 Indian companies already operating in Hong Kong, and highlighted Hong Kong's strong appeal to growing numbers of international companies as a platform to reach Guangdong, the rest of the Mainland and the Asia-Pacific region.

Focusing on the synergy of Hong Kong and Guangdong economic cooperation in the Greater Pearl River Delta Region (GPRD), Mr Tsang encouraged Indian corporations to establish a base in Hong Kong and make best use of the strong cooperation between Hong Kong and Guangdong as a winning combination for both local and overseas investors. "Hong Kong is Guangdong's largest trading partner and Hong Kong companies employ some 11 million-plus workers in the GPRD. Hong Kong has also benefited tremendously through transforming itself into a services-oriented economy to support the GPRD's development. Firms focusing on trading, logistics, financial and other professional services today contribute over 90 percent of Hong Kong's GDP."

Speaking on the increasingly close economic ties between Hong Kong and India, Mr Tsang pointed out that with an Indian community of more than 27,000 people, Hong Kong is host to many of India's leading companies and entrepreneurs. The Air Services Agreement signed between Hong Kong and India in 2007 has also greatly facilitated air travel between the two places.

He continued, "Hong Kong is also a familiar place for Indian entrepreneurs. English is the language of our business communities; we have similar legal systems, and we share common goals of openness, diversity and fair play. Apart from being right on the Mainland's doorstep, Hong Kong is a stable and dynamic global financial centre in the Asian time zone. We also share many of the characteristics cherished by entrepreneurs the world over including a fully convertible currency and free flow of capital."

During the conference, representatives from two Indian enterprises, Chairman of Jet Airways, Mr Naresh Goyal, and Chairman of Asia Pacific, TCS, Mr Girija Pande, also spoke about their successful experience of operating their businesses in Hong Kong and Guangdong Province.