Hong Kong woos Indian investment in financial services, ICT
NEW DELHI, Feb 12:Seeking investments from India, Invest Hong Kong today said sectors such as financial services, tourism and ICT hold great potential for collaboration between businesses of the two sides.
Invest Hong Kong is a government department of Hong Kong responsible for facilitating businesses and entrepreneurs to set up business there.
Phillips, said infrastructure, logistics and transportation sectors can also be explored by Indians businessmen for investments.
Simple taxation system, business friendly environment and zero import and export duties are some of the major attraction points for corporates to invest in Hong Kong, he said.
“The Hong Kong government announced a two-tier profits tax system to enhance Hong Kong’s competitiveness in October last year. Under the proposed regime, the tax rate for the first USD 2 million of profits of enterprises will be lowered to 8.25 per cent, or half of the standard profits tax rate,” he said in an email interview.
It also has a strong commercial and property law encompassing all aspects of intellectual property protection, he said.
Meanwhile in a statement, the organisation said Phillips is on a five-day visit to India with an aim to engage the local business community and entrepreneurs to keep them abreast of the latest business advantages Hong Kong has to offer.
“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,” Phillips said.
Investment from India in Hong Kong reached HK dollar 12.5 billion at the end 2016, an increase of about 17 per cent year-on-year. (PTI)
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