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Panning for Opportunities in the Pan-PRD Region

Chief Secretary Donald Tsang opened a joint-business community seminar on July 19 titled "Exploring the Pan-PRD Opportunities." He said the '9+2' partnership -- between Mainland provinces, Hong Kong and Macau -- has been working smoothly since it came into effect on June 3.

A co-operation agreement covering more than 200 items was signed between Hong Kong and Mainland enterprises at the first Pan-Pearl River Delta Regional Economic & Trade Fair in Guangzhou in early July.

However, he noted that the level of economic development in some provinces in the PPRD is still in its early stage. "It will take some time to reform the economic structures and upgrade the labour quality in these areas," he said.

Under the PPRD framework, Hong Kong is set to become the region's logistics and financial hub, and Macau the gaming and tourism centre, while Guangdong's role as a manufacturing base will be reinforced.

Dr Allan Zeman, Chairman, LKF Holdings Ltd, told the audience that he believes the potential for Hong Kong and Macau's tourism sectors is enormous. He predicts growth will not come just from Mainland tourists visiting the two SARs, but also from international tourists coming with their families, or as part of the convention and incentives market. These visitors can also explore the beautiful scenery north of the border, he added.

Speakers from seven sectors -- financial services, professional services, tourism, branding, manufacturing, logistics and infrastructure development -- shared with participants their insights on the business opportunities brought about by CEPA and 9+2. All speakers agreed that the PPRD provinces and autonomous regions -- Fujian, Jiangxi, Hunan, Guangdong, Guangxi, Hainan, Sichuan, Guizhou and Yunnan as well as the Hong Kong and Macau SARs -- provide a larger platform for Hong Kong firms to expand into these regions while taking advantage of the benefits of CEPA. They also pointed out that despite significant differences in the level of economic development among the provinces, opportunities nonetheless can be found for the taking.

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