Enterprises from Hebei and Hong Kong should foster a closer partnership which was mutually beneficial and complementary in order to embrace competition brought by economic globalisation, Permanent Secretary for the Environment, Transport and Works (Works) Mr Lo Yiu-ching said today (June 23).
Addressing the "Hebei-HK Infrastructure and Real Estate Services Seminar" in "Hebei-Hong Kong Week 2005", Mr Lo said Hebei's formidable construction force, particularly its excellent professionals and robust workforce, could team up with Hong Kong's experience in the global market, advanced construction techniques as well as financial and management capabilities to explore and develop the overseas market and create a win-win situation.
Mr Lo is leading a 45-member delegation comprising mainly the infrastructure and real estate sectors to attend the seminar and visit Shijiazhuang in Hebei.
"Last year, Hong Kong freed itself from the economic downturn which has troubled us since the Asian financial turmoil. Our GDP rose by 8.1% and the real estate development has also shown recovery," he said.
"Looking ahead, the opening of Hong Kong Disneyland in September this year will further boost the number of visitors to Hong Kong as well as local consumer spending.
"The HKSAR Government will continue investing in infrastructure to tie in with the long-term development of the territory. In 2004, the total investment in infrastructure was HK$32.1 billion. In the next few years, Hong Kong will maintain its investment at an estimated annual average of HK$29 billion for the construction of a number of major infrastructure projects, such as the Hong Kong-Zhuhai-Macau Bridge and South East Kowloon Development.
"In recent years, many multinational corporations have chosen to set up their regional headquarters in Hong Kong for the development of business in China. They want to make use of the business network which Hong Kong enterprises have established on the Mainland as a stepping stone to enter the Mainland market," Mr Lo said.
"On our part, we also hope that enterprises from Hebei would consider setting up regional headquarters in Hong Kong in your 'reaching out' process. You are welcome to use Hong Kong's advantages as a springboard to the world.
"I also hope that the Hebei authorities can render generous support to Hong Kong enterprises which are setting up companies or participating in construction or real estate development projects in the province by simplifying the process of registration and certification as much as possible. This will enable the enterprises to start their businesses here early and contribute towards the development of Hebei."
More than 120 representatives attended the seminar at which nine representatives from government departments, professional institutes, trade associations and enterprises from both sides delivered speeches.
The delegation will visit a refuse treatment plant and a real estate development project tomorrow (June 24).
Ends/Thursday, June 23, 2005
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