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FDI Into Hong Kong Increases Despite Global Uncertainty


Invest Hong Kong (InvestHK) has announced that, in the first half of 2012, it assisted more than 200 overseas and Mainland Chinese companies to set up or expand in Hong Kong, up 5.6% from a year ago.

Its Director-General of Investment Promotion, Simon Galpin, confirmed that he was encouraged by the interim results, noting that they showed continued strength in inward investment into Hong Kong, despite fears about the global economy.

Galpin remained optimistic that InvestHK will be able to meet the annual target for this year, although he noted that the extent of the impact from the global economy on Hong Kong for the rest of 2012 and into 2013 is still to be seen.

The investing companies in the 209 completed projects in the first six months of this year came from 32 countries, with the Mainland the largest single source of investment into Hong Kong, with a total of 38 completed projects, followed by the US (37), Japan (22), the UK (18) and Germany (12). Those companies planned to employ 1,857 people in Hong Kong for their first year of set up or expansion, up 7.3% from a year ago.

Tourism and hospitality, transport and industrial, and financial services, were the top three sectors. By subsector, Hong Kong’s opportunities in the first half of 2012 proved most attractive to companies in asset management, software solutions and design services.

That was said to reflect both the traditional strengths of Hong Kong as a financial hub and recent trends, such as the increasing number of Mainland companies using Hong Kong-based companies to help them ‘go global’.

It was added that Hong Kong’s international business hub status continues to make it an ideal location in terms of attracting a broad spectrum of companies. In April, InvestHK assisted Nissan Infiniti’s global headquarters opening in Hong Kong. Infiniti joined multinationals like General Electric and Schneider Electric which have based part or all their global functions in the city.

At the other end of the scale, Hong Kong also remained a magnet for entrepreneur-led start-ups from overseas, which are attracted by the city’s ready pool of talent, simple business procedures and position as the financial and business capital of Asia Pacific.

Source: http://www.tax-news.com