Question on providing aftercare services and support to foreign companies established in Hong Kong in the Estimates of Expenditure 2011-12 by Hon KP Chan:
It is mentioned in paragraphs 75 and 76 of the Budget Speech that in view of the development of headquarters economy in Hong Kong, the Government will step up promotion efforts, take the initiative in approaching overseas enterprises and encourage them to set up business here. In the meantime, the Government will also provide aftercare services and support to foreign companies already established in Hong Kong. Please inform this Committee:
(a) What measures will the Government put in place to attract more foreign and Mainland enterprises to come to make direct investment in Hong Kong, and what is the amount to be involved?
(b) Whether the Government will reserve funds for providing subsidies to overseas, Mainland and Taiwan enterprises which set up headquarters in Hong Kong?
Asked by : Hon. CHAN Kin-por
(a) The Government will step up its promotional efforts and proactively approach those international corporations with the potential for overseas expansion through the services provided by Invest Hong Kong (InvestHK). The overseas representatives of InvestHK, located in 26 cities worldwide, will work closely with the investment promotion staff at InvestHK’s headquarters to provide one-to-one advisory service and practical support to overseas and Mainland companies to assist them in setting up in Hong Kong. InvestHK will also organise seminars and sector-specific workshops, as well as carry out marketing and public relations campaign in overseas and the Mainland markets, to promote the business-friendly environment of Hong Kong and its advantages as a base for overseeing regional operations. For companies already established in Hong Kong, InvestHK will strengthen its aftercare support services for these companies, with particular regard to strategic sectors where Hong Kong has clear advantages, to support retention and expansion of investments.
InvestHK will carry out the above initiatives through internal redeployment of existing resources under Head 79 – Invest Hong Kong.
(b) Our investment promotion strategy is to provide strong support services and infrastructure, as well as a level-playing field for all companies operating in Hong Kong regardless of their origin, instead of giving subsidies or other favourable treatment to foreign investment or tailor-made special packages for individual foreign investors not generally available to local companies. Our fundamental strengths and advantages as the world’s leading business centre and financial hub, as well as our unique position as a natural gateway to the Mainland, has continued to attract overseas and Mainland companies to establish their regional headquarters or offices in Hong Kong. Building on Hong Kong’s competitive edges, the Government will continue to reinforce its attractiveness to foreign investment through a simple tax regime, sector-specific assistance and support, and funding support to enterprises operating in Hong Kong.