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SOURCE: Janus Corporate Solutions
Analysis by leading Hong Kong company incorporation portal GuideMeHongKong shows that, despite efforts by other Asian hubs to attract foreign investment, businesses looking to expand in Asia should still make Hong Kong their top choice.
Hong Kong (PRWEB) January 16, 2013
Recent reports show that Asia will be the business world's target for the coming year. The 2013 Asia Business Outlook Survey states that top global executives are bullish on Asia, with 47 percent responding that expectations for their business in the region have risen over the past 12 months.
In fact, they are looking to aggressively expand their presence – 44 percent of respondents said that their companies are not hiring or investing in Asia fast enough. Meanwhile, the Asia Pacific Trade and Investment Report shows that global foreign direct investment (FDI) in Asia jumped 16 percent to US$1.5 trillion in 2011.
The growing attraction of business in Asia means that Hong Kong, considered the region's preeminent business hub, will face more pressure from countries such as Singapore, Malaysia, and Indonesia who are all vying to become top investment destinations.
“Many emerging Asian countries, especially from ASEAN, are trying to find new ways to draw more investments. For example, Thailand recently lowered its personal and corporate income taxes. To counter that, Hong Kong must portray a positive image on two fronts – globally and locally – in order to remind entrepreneurs that the benefits of doing business in the city are significantly more attractive than what you can find anywhere else in Asia,” said Ms. Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions, a leading Hong Kong company incorporation services firm and the parent company of GuideMeHongKong.
"Overall, businesses who set up in Hong Kong are assured that they will be able to focus on expanding their operations and winning market share, without having to deal with all the red tape and unnecessary expenses that they might encounter in other Asian cities," she added. "There is also the added advantage of Hong Kong's special economic ties with China, and its sound regulatory and legal environment that ensures that nobody gets treated unfairly simply because of connections."
“On a global scale, it was recently named as the world's freest economy by the Heritage Foundation, a well-respected American think tank,” she continued. “It's the 19th straight year it has garnered this distinction due to its dynamic business environment, the attractive Hong Kong tax system, and unbiased regulatory environment. This, as well as other accolades such as being named as the world's top financial center by the WEF, will give overseas companies the confidence that their investments in Hong Kong will have growth potential and security.”
Hong Kong has also projected optimism locally as well. The recent Standard Chartered Hong Kong SME Leading Business survey shows that confidence from local SMEs went up 3.2 points, with retail being the most upbeat sector. Manufacturing SMEs were also optimistic about their sales for the coming year due to a significant drop in their inventories in the last quarter.
“Judging from the optimistic vibe that the city has already been giving off so early into the year, we are excited about the growth of investments in Hong Kong which we expect will continue to climb and exceed expectations for the rest of 2013,” concluded Ms. Low.
About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Hong Kong incorporation services firm that provides comprehensive and cost-effective Hong Kong company registration, immigration visa, accounting and tax filing services to businesses and entrepreneurs worldwide. For more information, visit http://www.guidemehongkong.com
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