Hong Kong : Margaret Fong, the newly appointed Executive Director of the Hong Kong Trade Development Council (HKTDC), outlined her vision for the Council’s work during a meeting with media representatives today. Ms Fong, who took up her new post on 1 October, highlighted the HKTDC’s commitment to creating business opportunities for Hong Kong companies amid a difficult economic environment, while attracting mainland and international enterprises to expand their business through Hong Kong.

Ms Fong explained that, with a history of almost 50 years, the HKTDC is a very well-developed organisation. She said the Council will continue to be a competitive and proactive in providing Hong Kong SMEs with a full range of support services. She also outlined three strategic directions to help Hong Kong companies, especially SMEs, seize global business opportunities.

“Although there are a number of challenges in the overall business landscape, we believe that there are also many opportunities out there,” Ms Fong said. “But Hong Kong companies should also adjust their business strategies in response to the new circumstances. They could, for example, expand into traditional and emerging markets simultaneously as a way to diversify risks and open up more business opportunities in professional services by making good use of IT.”

“Hub Concept” to Expand Business Opportunities

Ms Fong said the Council will aim to help Hong Kong stay competitive and relevant, by following three strategic directions to help local companies seize global business opportunities. First, promote trade in products and services, while supporting Hong Kong companies to open up new markets. Ms Fong stressed that the Council’s work in emerging markets is on-going and promotion strategies will be adjusted according to market conditions. “Emerging markets have taken a stronger role in leading global economic development.

In the next one or two years, the HKTDC will put more resources into expanding business opportunities in a number of emerging markets. We will mainly focus on different regional hubs and, through these hubs, help Hong Kong companies open up new markets in neighboring regions. For example, Indonesia will be the hub for ASEAN; Turkey will be the hub for Central Asia, and Dubai for the Middle East.”

The same strategy is applicable to developed markets like the United States, Ms Fong added, where the focus will be on New York, Chicago and Los Angeles. For Europe, the hub will be Frankfurt. This “hub concept” strategy will be adopted for both product and services promotion.

Hong Kong – Asia’s Business Centre

The second strategic direction, according to Ms Fong, is for the HKTDC to promote Hong Kong’s services industry and help establish the city as Asia’s business services hub. Ms Fong said that, as Hong Kong transforms, the HKTDC is also taking on the new role of promoting Hong Kong as Asia’s business capital. “In a global business context, irrespective of whether an Asian enterprise wants to “go global” or a foreign company wants to come to Asia, Hong Kong, with its world-class services, is the main bridge linking Asia with the rest of the world,” Ms Fong said.

Besides business, Hong Kong has to uphold its status as a fashion capital, Ms Fong added. As well as organising large-scale activities overseas to promote Hong Kong brands, the HKTDC is also “selling” Hong Kong’s stylish image through a number of exhibitions related to entertainment, design and lifestyle. The Council is expanding its Design Gallery network in the Chinese mainland and Hong Kong, to widen its promotion of Hong Kong designer brands and creative industries.

Ms Fong pointed out that Hong Kong would become an increasingly important IP trading centre. “Hong Kong has a sound legal system and its IP laws are in line with international norms, so there is ample protection of IP transactions and opportunities to realise Hong Kong’s potential as Asia’s IP centre.” The “Asia IP Exchange” (AsiaIPEX), launched by the HKTDC last December, is a platform for over 25,000 tradable IP items, Ms Fong noted.