Gujarat delegation concludes its successful visit to China and Hong Kong

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.