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Join Date: 03 Nov 2010
Location:  KuwaitPosts: 139 |
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Hong Kong woos Kuwaiti investors |
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KUWAIT: While Hong Kong itself has a population of seven million, foreign investors considering investing there can potentially reach an audience of over 1.3 billion, with the city and surrounding area being one of two Special Administrative Regions (SARs) of the People's Republic of China. This was revealed yesterday at the Kuwait Chamber of Commerce and Industry (KCCI) by Charles Ng, Associate Director General of the government of Hong Kong SAR, who's currently in Kuwait for the third time to woo Kuwaiti investors into using Hong Kong as a platform for investments, not only in mainland China but also elsewhere in Eastern and Southern Asia, including India.
Ng's presentation introduced an explanation of Hong Kong's renowned 'One Country, Two Systems' policy, stressing that Hong Kong has its own system and government. "The rule of law is very different from that in mainland China and we adhere to values similar to [those of] western countries and have freedom of speech," Ng explained. On the investment opportunities available there, Ng noted that Hong Kong has a great deal to offer. "Hong Kong is known as Asia's business capital," he pointed out. "Many multinational companies use Hong Kong as their regional headquarters. We are in the center of the Asia Pacific region, so our location is very much advantageous to investors, especially those who want to reach out to mainland China, but also for investors who would like to invest in the rest of Asia and India - a very good platform for reaching out to inwards and outwards investments. Ng emphasized the advantages of Hong Kong's low-rate and simple taxation system, with no sales tax, no capital gain tax and no withholding tax on dividends. We are very much a diversified economy," he explained. "We rank number four in terms of Foreign Direct Investments. If you invest in Hong Kong the government will support you and help you grow." Ng also boasted of Hong Kong's highly skilled, qualified and educated workforce, adding that the quality of life there is exceedingly high compared to other locations. Hong Kong is also home to over 50 top international universities, he revealed, as well as hosting approximately 33 million tourists annually, most of whom, he said, come from mainland China. On his part KCCI board member Dirrar Yousef Al-Ghanim expressed his great admiration for Hong Kong, even at the time when the city was still part of the previous British protectorate government. "Now that [Hong Kong's] been part of China for several years, we still continue to have a warm relationship with you, which is growing day by day," he said. |
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