23 June 2012, Hong Kong : The
Gujarat delegation visiting China for promotion of Vibrant Gujarat
winded up their visit today at Hong Kong where it held meetings with top
corporate groups and business organizations.
The
India & Hong Kong Chamber of Commerce organized a seminar where the
Gujarat delegation showcased the progress made by Gujarat and the
opportunities that the State offers. Investors displayed keen interest
and enquired about investing in the State’s financial and infrastructure
sectors. The delegation also briefed the audience about the state
sponsored private equity investment company - Gujarat Venture Finance
Limited as well as about its operations and funds where Hong Kong based
investors could make investment for assured returns.
The
delegation met leading companies including those having interest in
power, construction, and urban transport along with major financial
institutions based in Hong Kong. In view of huge opportunities available
in Gujarat these companies are keen to invest in Gujarat and develop
large infrastructure through public private partnerships. Projects like
urban transport, Dholera Special Investment Region, GIFT city,
industrial parks among others attracted serious interest. Apart from
investors, several consulting agencies that have helped China shape up
its industrial infrastructure, large scale investment regions and
connectivity infrastructure also evinced interest in working with
Government of Gujarat in setting up mega projects across the State. The
Consulate of India in Hong Kong had a detailed briefing of the
delegation and plans to actively work with apex organizations and
associations to facilitate participation of their members in Vibrant
Gujarat 2013 Summit.
In
a road show at Hong Kong, jointly organized by the Indian Consulate and
the Hong Kong General Chamber of Commerce in association with CII, the
delegation focussed on infrastructural and financial services sector.
Several Chinese companies too have headquarters in the region and do
their business and investment through Hong Kong based institutions.
During the seminar, many of these companies showed interest in Gujarat’s
growing economy which is led by its proactive governance and
initiatives for developing a conducive business environment.
With
Gujarat attracting industries on a large scale, a need is also being
felt for industrial and environmental planning which can support such
development on long-term basis. Hong Kong University through its School
of Architecture and Planning has been involved in industrial and
environmental planning of China and also has a well developed network
consisting of several universities in Asia and Pacific. Centre for
Environmental Planning & Technology (CEPT) university which has been
assisting Government of Gujarat in its on-going efforts for
industrialization, environmental planning, habitat and transport
development accompanied the delegation and had a detailed discussion
with Hong Kong University for collaboration and knowledge exchange. A
Memorandum of Understanding is planned to be signed soon.
This
visit to China and Hong Kong of the Gujarat delegation which was being
led by Mr. Bharat Lal, Principal Resident Commissioner, Government of
Gujarat as a follow up to the visit of Hon'ble Chief Minister Shri
Narendra Modi, has given further push to rapidly growing business ties
with China. From the responses received from Chinese leadership,
business and industry, it is obvious that Chinese enterprises are
looking towards Gujarat as their next investment destination and
partner. The delegation during its visit has been focusing on attracting
industries and investments in sectors which are currently witnessing
huge imports from these regions. Investments in machinery &
equipments, heavy engineering, large scale manufacturing among others
will serve to not only save costs for local industry but is also being
seen as a prudent move by Chinese firms aiming to cut down transport and
labour costs as well as capture new export markets in Gulf, Africa and
Europe. The State Government's approach to focus on big Chinese
industries with better technology and capital to supplement Gujarat
industries, will give big boost to industry, business and economic
development in the State.
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