Hong Kong seeks Indian investment
InvestHK is establishing a network with Indian lawyers, banks and consultants who could encourage their clients to invest in Hong Kong.
By TNN |
NEW DELHI: The sharp increase in investment outflows from India in the recent years has attracted Hong Kong’s attention. InvestHK, a department in the Hong Kong government, is establishing a network with Indian lawyers, banks and consultants who could encourage their clients to invest in Hong Kong.
"We are building a network in India with professionals and sector specific experts to attract more investments in Hong Kong from India. Once the companies arrive in Hong Kong, InvestHK will continue to support them with advice and assistance on matters such as work visas, trademark registrations, incorporations and other administrative, legal and financial matters," InvestHK director general MJT Rowse said.
Addressing a press conference, Mr Rowse stated that the country’s target was to get 250 companies to invest in Hong Kong this year, out of which Indians would form a major chunk. About 246 companies had invested in Hong Kong last year.
Around 1,000 firms in Hong Kong are operated by Indian businessmen. “Their range of businesses is broad and includes trading, financial services, shipping, information technology, business and professional services and jewellery,” Mr Rowse said.
Pointing out that Hong Kong has been a favourite destination for Indian banks for opening their branches, Mr Rowse said that the Punjab National Bank has recently been given clearance to open its branch in Hong Kong. ICICI Bank was the first Indian bank to open its brand in Hong Kong in 2005. It was followed by Bank Of Baroda, Bank of India, Indian Overseas Bank.
Apart from the financial sector, IT, jewellery, ports and aviation are also big on InvestHK’s agenda.
"We are building a network in India with professionals and sector specific experts to attract more investments in Hong Kong from India. Once the companies arrive in Hong Kong, InvestHK will continue to support them with advice and assistance on matters such as work visas, trademark registrations, incorporations and other administrative, legal and financial matters," InvestHK director general MJT Rowse said.
Addressing a press conference, Mr Rowse stated that the country’s target was to get 250 companies to invest in Hong Kong this year, out of which Indians would form a major chunk. About 246 companies had invested in Hong Kong last year.
Around 1,000 firms in Hong Kong are operated by Indian businessmen. “Their range of businesses is broad and includes trading, financial services, shipping, information technology, business and professional services and jewellery,” Mr Rowse said.
Pointing out that Hong Kong has been a favourite destination for Indian banks for opening their branches, Mr Rowse said that the Punjab National Bank has recently been given clearance to open its branch in Hong Kong. ICICI Bank was the first Indian bank to open its brand in Hong Kong in 2005. It was followed by Bank Of Baroda, Bank of India, Indian Overseas Bank.
Apart from the financial sector, IT, jewellery, ports and aviation are also big on InvestHK’s agenda.
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