European firms tout Hong Kong as springboard for expansion into mainland China, Asia Hong Kong can help European companies tap promising markets in Asia, particularly mainland China, by leveraging the city’s unique advantages and its booming financial market, according to two firms that are using bases of operations in the city to further expand in the region. Italian-owned food importer and distributor Bright View and French fintech firm Libertify are using Hong Kong as a springboard to reach opportunities in mainland China, elsewhere in Asia and further abroad, with the help of InvestHK, a government agency tasked with attracting foreign investment. “Hong Kong has always been and still is a market that all the producers are interested in to be here,” said Michele Bernacchia, the general manager of Bright View, which imports and distributes cheese, cold cuts, pastries, pasta, rice and fresh vegetables. The company is a unit of Italy’s Inalca Food & Beverage, which first started working with InvestHK in 2015 and acquired local firm Bright View Trading in 2017. Now, with confidence in the development of Hong Kong and the Greater Bay Area, the company has set up offices in Macau and Zhongshan, a city in China’s southern Guangdong province. It also has operations in Shanghai, Beijing and Chengdu. The Greater Bay Area combines Hong Kong, Macau and nine cities in Guangdong into a market with a population of more than 87 million. “We are very excited about this because we think that in the south of China there are a lot of opportunities,” Bernacchia said. The company was eyeing Shenzhen as its next target city for expansion, he said. With consumers looking for bargains, Bernacchia said the company was now considering augmenting its Italian suppliers with products from Asian countries, including China. InvestHK helped ease Inalca’s initial entry into Hong Kong by maintaining close contact with senior executives at its headquarters in Modena, Italy, according to InvestHK. The agency answered questions about food-safety requirements and import procedures in the city, thereby strengthening the company’s confidence about opening for business in Hong Kong, it said. A base in Hong Kong is essential, as the city can “connect entrepreneurs, clients and investors at the same point in a very fast way,” said Florian Lang, the founder and Asia-Pacific CEO of Libertify. The company, which specialises in transforming static documents and information into engaging video presentations using artificial intelligence, won InvestHK’s 2023 Global Fast Track Programme. This provided resources and support that helped the firm establish its foothold in Hong Kong, according to Lang. InvestHK said it had provided Libertify with “multifaceted support”, including organising its participation in a regional delegation to the Gulf Cooperation Council in the Middle East and exchange activities in France, which helped it extend its international network and expand its business overseas through Hong Kong. “The department will continue to strengthen ties with traditional markets such as Europe, North America and North Asia, while actively exploring emerging markets,” said Alpha Lau, director general of investment promotion at InvestHK, in a statement on July 7. Hong Kong’s business-friendly environment, free capital movement and robust innovation and technology ecosystem, which boasts nearly 10,000 companies and close to 4,700 start-ups, empowered businesses to innovate and grow, according to InvestHK. https://www.scmp.com/business/companies/article/3321481/european-firms-tout-hong-kong-springboard-expansion-mainland-china-asia (ICE HONG KONG)

Fonte notizia: South China Morning Post