French Companies Seek Greater Investment Opportunities in HK

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Last updated at: (Beijing Time) Wednesday, July 30, 2003

French Companies Seek Greater Investment Opportunities in HK

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Led by Delegate Minister for Foreign Trade Francois Loos, 51 selected French firms are paying avisit to Hong Kong between July 28 and 29, in an effort to look for greater investment opportunities that may be brought about theChinese mainland/Hong Kong closer economic partnership arrangement(CEPA).

Loos said at a press conference Tuesday evening that the Frenchfirms are interested in seeking cooperation partners in quite a number of fields, especially in the manufacturing, transportation and food processing fields.

He said a group of French businessmen active in Asian business are expected to visit Hong Kong before a strategic investment planis to be hammered out in October when definition of origin of products will be given.

The delegate minister stressed that French companies are sharing his confidence in the future of Hong Kong and the number of French firms in Hong Kong has reached 420.

He said the majority of the companies are working not only on the local market but also in southern China and a significant partof them are utilizing Hong Kong as a regional center.

Loos said France has a strong presence in the local market, notonly with traditional products such as luxury goods and high quality foods products, but also with all sorts of high-tech devices, particularly electronic and telecommunication appliances and airplanes.

Loos said during the first five months of this year, France hasexported to Hong Kong more than 700 million eruos of goods and Hong Kong was in 2002 the third outlet for French products in Asia,behind Japan and the Chinese mainland.

He said one of the targets of his visit to Hong Kong is to strengthen bilateral links between French and Hong Kong companies.Apart from meeting high ranking officials of the Hong Kong Special Administrative Region government, Loos met with some of the leading Hong Kong businessmen.

The 51 selected French firms primarily operate in the high tech, construction, civil works, infrastructure, environment, health, food, fashion and distribution sectors.

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