Speeches

Speech by CS at Invest Hong Kong’s Annual Reception (English only)

Following is the speech by the Chief Secretary for Administration, Mrs Carrie Lam, at Invest Hong Kong’s Annual Reception today (December 8):

Mr Gregory So (Secretary for Commerce and Economic Development), Mr Simon Galpin (Director-General of InvestHK), distinguished guests, ladies and gentlemen,

It is a great pleasure to be here again at Invest Hong Kong (InvestHK)’s annual reception to thank you for your contributions to our vibrant economy. As in past years, this occasion brings together overseas and Mainland business communities, our partners, consulates, chambers of commerce and business leaders.

This year is all the more special as it marks the 15th anniversary of InvestHK. Founded in 2000, the department is tasked to attract foreign direct investment (FDI) by encouraging and supporting both overseas and Mainland companies to set up or expand in our city. FDI not only brings in new investment, technology and management cultures, creates job opportunities and broadens the base of our economy, but also enhances Hong Kong’s status as an international business hub.

InvestHK has done a remarkable job despite the ups and downs of the global economy in the last 15 years. The numbers speak for themselves. From the establishment of InvestHK until the end of November 2015, the department has assisted over 3,800 companies which together created more than 41,000 new jobs and over $101 billion of investment in their first year of operation or expansion to operate in Hong Kong.

We were also glad to learn that, in the World Investment Report of the United Nations Conference on Trade and Development (UNCTAD), Hong Kong was ranked second in 2014 both in terms of FDI inflow (US$103 billion) and outflow (US$143 billion), second only to Mainland China and the United States respectively. It is encouraging to see that Hong Kong continues to be a prime conduit of FDI regionally and globally.

We could not have achieved all these without you. As a matter of fact, apart from attracting some of the largest multinationals and conglomerates, Hong Kong is also an ideal place for startups and entrepreneurs looking to innovate and scale their business globally.

According to InvestHK’s recent survey of our startup ecosystem, the number of startups in Hong Kong has been increasing rapidly, registering a growth of 46% from a year ago. This is driven by the city’s supportive incubators and accelerators, our strong funding support for startups and a pool of angel investors and venture capitalists, plus, all the enduring business advantages that Hong Kong provides – our rule of law, low and simple tax regime, strategic location, ease of doing business, and the list goes on.

The StartupmeHK festival spearheaded by InvestHK will be held on 23-30 January 2016. Please mark your diary in case you have not already done so. In addition to the StartmeupHK Venture Forum on 26 January, the week will feature world-class events in four emerging sectors, namely Internet of Things (IoT), financial technology (fintech), healthtech and data analytics, where Hong Kong has distinct competitive advantages.

There has also been much excitement generated by the Belt and Road Initiative announced by the Central Government, which will bring more business opportunities to Hong Kong, as we are the gateway for Mainland companies to “go global” and the “super-connector” between businesses in the Mainland and the world. The Government will work together with the business community to capitalise on the wealth of opportunities emerging from the Belt and Road.

By the way, Hong Kong means a lot more than businesses. Our Government is running a territory-wide “Appreciate Hong Kong” campaign from this December to April next year to promote the atmosphere of showing appreciation towards the various aspects of this city and its people. The campaign is an open platform to unite forces from different sectors, bringing together the public, the business sector, the Government, academia and others in the community for a wide array of activities. We look forward to your active participation in these programmes and contribution of possible new programmes and activities.

Looking at all of us here tonight, I realise that nothing captures Hong Kong’s role as a super-connector better than your presence here, brought together by InvestHK. My congratulations to InvestHK on its 15th anniversary, and my thanks to Simon and his team for their good work. I wish InvestHK and all of you continued success and new achievements in the future.

Have a great evening!