HKETO Berlin promotes Hong Kong business opportunities in Hungary
Hong Kong (HKSAR) - Following a fruitful trip to Hong Kong of a business delegation organised by the Hungarian Chamber of Commerce and Industry in December 2017, the Hong Kong Economic and Trade Office, Berlin (HKETO Berlin) together with Invest Hong Kong (InvestHK) built on the momentum to host a business luncheon in Budapest, Hungary, on March 2 (Budapest time).
The business luncheon gathered delegation members from last year's visit to Hong Kong as well as other entrepreneurs who are interested in doing business in Hong Kong. Participants exchanged insights gained from the trip as well as views on the latest business trends in Hong Kong and the opportunities that Hong Kong has to offer to Hungarian businesses. The event was supported by the Hungarian Chamber of Commerce and Industry.
The Director of HKETO Berlin, Ms Betty Ho, opened the networking event by outlining the unique advantages of Hong Kong, including the rule of law that is underpinned by an independent judiciary; a clean and efficient government; a low and simple tax system; free flow of information, talents and capital; a lack of trade barriers; and superb transport and communications infrastructure.
"We welcome Hungarian companies to expand their businesses to Hong Kong, or to make use of Hong Kong as a gateway to the Mainland China and Asia," Ms Ho added.
Providing a Hungarian perspective on Hong Kong-Hungarian relations, the Director of the Department for International Affairs at the Hungarian Chamber of Commerce and Industry, Dr Mária Stark, highlighted the closer partnership between the two places signified by co-operation on various fronts, including the signing of a memorandum of understanding between the Chamber and the Hong Kong General Chamber of Commerce during the former's visit to Hong Kong last year.
The Head of Investment Promotion at HKETO Berlin, Dr Chung Wing-hin, further elaborated on the latest initiatives by the Hong Kong Special Administrative Region (HKSAR) Government that are most promising for Hungarian companies. "We will make our tax system in Hong Kong even more competitive by reducing the tax burden on small and medium-size enterprises and start-ups through a two-tier profits tax system and providing a higher level of tax deductions to incentivise corporations to invest in research and development," he said. On a macro scale, the sheer size of the Belt and Road Initiative as well as the strategic location and unique strengths of Hong Kong under the Initiative provide ample opportunities for Hungarian companies to grow their businesses in Hong Kong, Dr Chung added in concluding his presentation.
On March 1 (Budapest time), HKETO Berlin and the Hong Kong Trade Development Council also co-hosted a Chinese New Year reception in Budapest to welcome the Year of the Dog together with local representatives of the government and business sector as well as other key figures in Hungary.
About HKETO Berlin
HKETO Berlin is the official HKSAR Government representative in commercial relations and other economic and trade matters in Hungary as well as Austria, the Czech Republic, Germany, Poland, the Slovak Republic, Slovenia and Switzerland.
Published on: 2018-03-06
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