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Hong Kong woos Indian investment in financial services, ICT

Press Trust of India  |  New Delhi 

Seeking investments from India, Invest today said sectors such as financial services, tourism and ICT hold great potential for collaboration between businesses of the two sides.

Invest is a government department of responsible for facilitating businesses and entrepreneurs to set up business there.

The of Invest Hong Kong, Stephen Phillips, said infrastructure, logistics and transportation sectors can also be explored by Indians businessmen for investments.

Simple taxation system, business friendly environment and zero import and export duties are some of the major attraction points for corporates to invest in Hong Kong, he said.

"The announced a two-tier profits tax system to enhance Hong Kong's competitiveness in October last year. Under the proposed regime, the tax rate for the first USD 2 million of profits of enterprises will be lowered to 8.25 per cent, or half of the standard profits tax rate," he said in an email interview.

It also has a strong commercial and encompassing all aspects of intellectual property protection, he said.

Meanwhile in a statement, the organisation said Phillips is on a five-day visit to with an aim to engage the local business community and entrepreneurs to keep them abreast of the latest business advantages Hong Kong has to offer.

"is a fast growing economy and one of our key priority markets. We believe that Hong Kong is the strategic location for Indian companies looking to develop a strong base in and to scale their business globally," Phillips said.

Investment from in Hong Kong reached HK dollar 12.5 billion at the end 2016, an increase of about 17 per cent year-on-year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 12 2018. 15:45 IST