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| No.4 August, 2013 |
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Hong Kong attracts Canberra firm with Asian ambitions |
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 Hong Kong’s prime location and status as an international hub is attracting Australian firms with Asian ambitions. Canberra based APIR Systems Limited, is one such business expanding their operations into Hong Kong.
“We recognise that Hong Kong is very much the heart of Asia. Its open market means it has great exposure to European financial products, which was an important factor for us,” said Andy Hutchings Broso, who is now the Chairman of APIR Asia Limited.
Founded in 1993, APIR currently operates from their Kingston premises near Parliament House. A series of ACT and Federal Government Grants, along with support from investors, have allowed the company to grow and in 2011, APIR Asia was launched as the Asian representative in Hong Kong.
In simple terms, APIR provides services which identify and categorise financial products. As the financial hub of Asia, Hong Kong was seen by APIR as a natural place to expand its operations.
Mr Hutchings Broso said that “Hong Kong is such a transparent market and for a company like ours which comes from a regulatory based standards position, it was difficult to work out a value proposition. The Hong Kong market couldn’t see the value of our services.”
He said this was when a friend recommended Invest Hong Kong, a Hong Kong Government organisation dedicated to helping overseas businesses set up and expand in the city.
“Invest Hong Kong basically helped us understand the local Hong Kong market and fine-tune our business proposition to match the market’s needs,” said Mr Hutchings Broso.
Head of Invest Hong Kong for Australia and New Zealand, Cameron Boardman said they aim to give an insider’s view of life and business in the Asian city.
“At Invest Hong Kong we take on a consultative role and help identify and anticipate obstacles for businesses looking to set up in Hong Kong. For example, with APIR we helped source local contacts and navigate labour and visa laws,” said Mr Boardman.
Mr Hutchings Broso said that whilst organisations like Invest Hong Kong can be of assistance, companies must ensure they conduct sufficient research and take responsibility.
“Invest Hong Kong can be of great help, but when it comes down to things, companies still have to roll up their sleeves and do it themselves.”
About InvestHK
InvestHK is a department of the Hong Kong Special Administrative Region Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas and Mainland businesses to set up or expand into Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy.
As at December 2012, InvestHK had completed over 2,700 investment projects, creating more than 32,000 new jobs in the first year of operation or expansion and AUD$8.56 billion of investment.
For more information, visit www.investhk.gov.hk. |
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