Posted in: Press Releases
September 30, 2014
Speaking at a business workshop in the City of Markham today (September 30, Toronto time), Director of the Hong Kong Economic and Trade Office (HKETO) (Toronto) Miss Gloria Lo remarked that Hong Kong is fully committed to maintaining a free and open market for overseas trade and business.
The workshop was organized by the Hong Kong-Canada Business Association (HKCBA), Greater Toronto Section and supported by the Invest Hong Kong (InvestHK) and the Hong Kong Trade Development Council (HKTDC).
“Hong Kong is an ideal gateway for Canadian companies to venture into Mainland China and other parts of Asia,” Miss Lo said. “While we will maintain our simple and low tax regime and offer tax benefits under the double taxation avoidance agreement with Canada, we will at the same time uphold our rule of law and independent judiciary with our common law system and facilitate business disputes resolution”.
In highlighting Hong Kong’s favourable business environment, Miss Lo told the seminar that the government will continue to invest in infrastructure projects, increase land supply for business, support innovation and facilitate intellectual property trading.
“We will keep on deepening our economic cooperation with the mainland and facilitate Hong Kong based companies to access the mainland market through the Mainland and Hong Kong Closer Economic Partnership Arrangement. At the same time, we seek to strengthen our business ties with other parts of Asia through other initiative and by capitalizing on our strategic location at the heart of Asia,” Miss Lo added.
A good opportunity for Canadian companies is the annual StartmeupHK Venture Program organized by InvestHK. The programme this year is the department’s second global startup competition as part of the department's initiative to raise the profile of Hong Kong as the leading hub of innovation and entrepreneurship in Asia. This year the department received 550 entries from 47 economies, compared to 384 entries from 39 economies in 2013.
Hong Kong is the home of close to 4,000 overseas companies regional headquarters and the leading choice for Mainland Chinese companies to go global. It is an excellent launching pad for SMEs and startup companies seeking to start or expand their business in Asia.
Twelve winners have been selected and one of them is a Canadian company specialising in social media marketing. The winners will compete further in the Grand Finale to be held in November for three Grand Prizes.
“InvestHK is a government department dedicated to assist and facilitate overseas companies to grow and expand through Hong Kong. Based on the business interest and needs, it helps companies to understand their opportunities in Asia, assists them in formulating business plan and supports them in the expansion. All the services provided are private, confidential and free of charge,” said Ms Shirley Wong, the Head of InvestHK based in Toronto.
At today’s workshop, Director (Canada) of the HKTDC Mr Andrew Yui also encouraged Canadian companies to adopt a strategic approach by diversifying their business to Asia.
“You are invited to leverage the sector-specific Canadian trade missions to Hong Kong organised or co-organized by HKETO, HKTDC, HKCBA and the Canadian government. These trade delegations are ‘windows of opportunities’ for Canadian companies to capitalise on the business prospects presented by China and Asia in the century,” Mr Yui said.
HKTDC has all along arranged trade missions for the business people to go and explore the great potential in different sectors in Hong Kong and Canadian companies are encouraged to join. The trade missions include:
- Canadian Supply Chain and Logistics Mission to attend the Asian Logistics and Maritime Conference (November 18-19, 2014)
- Canadian Delegation to attend the Business of Intellectual Property Asia Forum (December 4-5, 2014)
- Canadian Financial Delegation to Hong Kong for the Asian Financial Forum (January 19-20, 2015)
- Canadian Film Delegation to Hong Kong Film & TV Market (FILMART) (March 23-26, 2015)
- Canadian ICT Delegation to attend the International ICT Expo in Hong Kong (April 13-16, 2015)
Besides, “Hong Kong, Guangdong and Macao – Your Business Partners in China”
seminar and networking luncheon will be jointly organised by the InvestHK, the Department of Commerce of Guangdong Province and Macao Trade and Investment Promotion Institute on November 4 in Vancouver. Canadian business executives are encouraged to explore the latest investment and business opportunities in these three strategic jurisdictions located in the Greater Pearl River Delta.
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The Director of the Hong Kong Economic and Trade Office (Toronto), Miss Gloria Lo (middle), is the keynote
speaker of a workshop held in the City of Markham, and organized by the Hong Kong-Canada Business Association,
Greater Toronto Section, and supported by Invest Hong Kong and Hong Kong Trade Development Council.