Hong Kong woos Indian FDI in financial services
Invest Hong Kong yesterday announced a new initiative to attract investment from India into the Hong Kong financial services sector, in the latest instance of pan-Asian cooperation.
The government agency’s director-general of investment promotion, Stephen Phillips, yesterday embarked on a five-day visit to India aimed at engaging the local business community and entrepreneurs.
Phillips said, “India is a fast growing economy and one of our key priority markets. We believe that Hong Kong is the strategic location for Indian companies looking to develop a strong base in Asia and to scale their business globally.
“Hong Kong is not only a major financial and business hub in Asia but also has close proximity to the huge Mainland market. New opportunities abound in areas such as innovation and technology, creative industries, smart city, fintech and biotech. All of these will help Indian companies and entrepreneurs from a diverse range of sectors expand in the region.”
According to data from the territory’s Census and Statistics Department, FDI from India reached $12.5bn at the end of 2016, representing an almost 17% year-on-year increase.