Industry & Economy
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Foreign Trade
Hong Kong invites Indian entrepreneurs
Our Bureau
Hyderabad
,
Sept. 23
INVEST Hong Kong (InvestHK), a Hong Kong Government agency, has called upon entrepreneurs from India to set up their operations at the HK Special Administrative Region that opens the gates for Mainland China and other global markets.
Addressing an interactive session on investment opportunities in Hong Kong, Mr John Rutherford, Associate Director-General of InvestHK, said one of the attractive factors was the fact that Hong Kong is the gateway for China market.
"China is an exciting market. But it is risky too," he said.
A base in Hong Kong could help companies tap the Chinese market, while getting the benefits of established rule of law and a system of lower taxes.
"There is no sales tax (or VAT) in Hong Kong. Also, corporate and personal taxes are lesser when compared to other nations in the region," he said.
Referring to CEPA (Closer Economic Partnership Arrangement) with China, he said though the two were one country, there were additional advantages in setting up base in Hong Kong.
The dynamic pact, which would have a third edition in 2006, had given companies and establishments with a base in Hong Kong certain benefits.
He said InvestHK had 20 teams to cater to different geographical regions.
The team would next go to Israel. "We are interested in their telecommunications and security technologies," he said.
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