Mike Rowse, Director-General of Invest HK speaking about getting Canadians excited about in Hong Kong
What does a former English tutor have to do with growing and sustaining your business in these turbulent economic times? Well quite a lot, if that person is Mike Rowse, Director-General of Investment Promotion in Hong Kong – Invest HK. Speaking at an event called, Establishing Business in Asia, a luncheon hosted by the Hong Kong Economic Trade Office and the Ontario Chamber of Commerce, Rowse discussed what businesses must do when looking towards Hong Kong as a market for expansion. He kicked off the discussion by saying that anyone can do business in Hong Kong and Mainland China. To make your business into a profitable one takes a bit more effort and involves a well thought out process. Rowse outlined three main keys to achieving this goal.
Today, in the first of a three part series, we’ll look at the first key to success.
First, Hong Kong has its own domestic market that mustn’t be overlooked. It’s not just the seven million people who live there that must be considered, but also the 28 million tourists that visit Hong Kong every year – many of whom visit Hong Kong to shop. It should also be seen as a conduit into the Asian market. With no value added tax (VAT), GST, and an excellent intellectual property rights enforcement regime, it’s not just cheaper, but also easier to protect your goods and services in Hong Kong than in Mainland China. This is why the world’s biggest luxury brands like Louis Vuitton and Armani have set up shop in Hong Kong.
Hong Kong is also a perfect coordination centre, not just for South China and China as a whole, but also all of Asia. Its legal system, English as an official language, low crime, low taxes, and its strategic location make it a prime spot for accessing the region. In other words, Hong Kong wants you to do business with them and it’s up to you to take advantage of what they have to offer.
Tomorrow on VENTURES, we’ll have Rowse’s second key to success in the Hong Kong Market.
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