HK welcomes leading European telecom company to set up regional headquarters

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Last updated at: (Beijing Time) Tuesday, February 24, 2004

HK welcomes leading European telecom company to set up regional headquarters

A top Belgium-based European telecom company, Topcom, announced Tuesday the establishment of its regional headquarters in Hong Kong.

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A top Belgium-based European telecom company, Topcom, announced Tuesday the establishment of its regional headquarters in Hong Kong.

The Hong Kong office, registered as Topcom Asia, will oversee logistics, product management, quality inspection and sales activities conducted by its representative offices in Shenzhen and Taipei.

At the opening ceremony, the CEO of Topcom, Stan Lowette, said, "With our current focus on developing cordless telecommunication and wireless data communication products, Hong Kong is an optimal location for setting up our Asia-Pacific headquarters."

The company will be able to enjoy benefits brought by the Comprehensive Double Taxation Agreements between Hong Kong and Belgium, which encourages business flows between the two places and further strengthens the level of confidence for Belgian investors doing businesses in Hong Kong.

Topcom is a leading European manufacturer of data and telecommunications products, with focus on the end-consumers market. Topcom International was formed following a merge between Topcom of Belgium and Incom of Sweden. It has now subsidiaries in several European countries, including Denmark, Sweden, Norway and Germany, as well as independent sales offices in Austria and the Netherlands.

Lowette said, "Although Topcom has been active in China for more than 12 years, we believed that a more permanent presence was required in dealing with suppliers and customers in Asia. The Greater Pearl River delta offers an attractive location. It serves as the manufacturing center for telecommunications, and also offers an excellent logistics, business and financial environment in Hong Kong. The pool of local talent allows us to establish seamless communication with our European headquarters."

"Asia is an important market for our global business development strategy. We believe that with our new office in Hong Kong, we are well positioned to grow our business in this dynamic city and in the rest of Asia," Lowette added.

The Associate Director-General of Hong Kong's Investment Promotion (Invest Hong Kong), Mark Michelson, was invited to attend the opening ceremony as officiating guest. He congratulated the company on its expansion.

"With the company's regional headquarters in Hong Kong, Topcom will be able to enjoy all the benefits this city offers as one of the most sophisticated telecommunications markets in the world," he said. "Our developed infrastructure and communications network allow multinational companies like Topcom to operate smoothly here. Hong Kong is an ideal location to set up a regional or global base to manage operations for the Mainland and other target markets."

Topcom is a developer, designer and manufacturer of telecommunications and data products, with production facilities in Asia and Europe, and a pan-European marketing and sales company. With a worldwide staff of about 85 employees, the company had a turnover of 60 million euro in 2003 and expects to reach 75 million euro this year.

Invest Hong Kong is the Hong Kong Special Administrative Region Government's one-stop shop for overseas companies who are interested in establishing or expanding their presence here.

Source: Xinhua

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