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Business delegation to visit Hong Kong, Shanghai

Malta Enterprise is organising an investment seminar on doing business with Hong Kong, highlighting the opportunities that this leading business location and premier gateway to the mainland Chinese market offers, shortly before leading another business delegation to China.

The business seminar, which is being supported by HSBC, will be held on September 11, 2012 at the Malta Enterprise head office in Pietà and shall be addressed by representatives from HKTDC, Invest in Hong Kong and the Hong Kong Economic and Trade Office in Brussels.

A few weeks later, between the 13th and 21st of October, 2012, Malta Enterprise shall be leading a business delegation to Hong Kong and Shanghai in China to explore trade and investment opportunities that these two leading economic hubs offer.

Sectors which are particularly promising for business comprise education and training, environment and renewable energy, financial and professional services, food and beverages, ICT, as well as travel and tourism.

Hong Kong’s has a services-oriented economy and enjoys the reputation of being one of the leading international financial centres on a global level. A former British colony, Hong Kong’s economy is characterised by low taxation and free trade, and its currency, the Hong Kong dollar, is the ninth most traded currency in the world despite the fact that its area is barely three times the size of Malta and its population is only around seven million.

Shanghai has been one of the fastest developing cities in the world in the past decades. It has managed to establish itself not only as a major global hub for financial services, but also one of China’s main industrial zones and one of the busiest container ports worldwide.

The world’s second largest economy, China is forecasted to grow even further in the coming years, thereby presenting several opportunities for investment, joint ventures or business collaborations.

China is already one of Malta’s major trading partners. Both imports and exports increased even further in 2011 over the previous years, reaching €150 million and €71.6 million respectively. While imports from China comprised a wide variety of goods, exports from Malta were mostly made up of electrical machinery and equipment.

These figures do not include trade with Hong Kong, to where Malta exported over €286 million worth of goods - almost entirely made up of electrical machinery and equipment - while it imported over €16 million worth of goods.

The business delegation shall provide another opportunity to explore this vast market, following up on similar delegations organised in the past years to the same Hong Kong and Shanghai, together with other Chinese cities such as Beijing, Ningbo and Guangzhou.

During the same period, a number of Chinese business delegations also visited Malta to explore the business environment in the country, with the latest one coming from the Jilin province earlier this month.

As part of the assistance being provided, Malta Enterprise may give a reimbursement of up to 60% of the cost for an economy-class flight ticket and a per diem allowance to one representative of the participating companies. Malta Enterprise will assist businesses in finding contacts and business leads through specifically-organised networking events and pre-arranged one-to-one meetings.

The business delegation is being supported by HSBC, the Malta Chamber of Commerce, Enterprise and Industry, the General Retailers and Traders Union, and the Gozo Business Chamber.

Further information on the business seminar as well as the business delegation can be obtained from www.maltaenterprise.com or by contacting Malta Enterprise on 2542 0000 or internationalisation@maltaenterprise.com.