'Asia road show' continues with Hong Kong visit

TUESDAY, MAY 29: Minister of Business Development and Tourism Wayne Furbert and Business Bermuda CEO Cheryl Packwood have led their delegation to Hong Kong for the fifth Bermuda Financial Services Reception, Hong Kong, on 28 May held at the Grand Hyatt. The annual event featured speeches and presentations by some of Hong Kong's and Bermuda’s top business leaders.

In endorsing Bermuda, Simon Galpin, Director-General of Investment Promotion, Invest Hong Kong (InvestHK), spoke on the benefits of the Bermuda-Hong Kong relationship: “Bermuda has been an important partner for Hong Kong for many years, and I look forward to seeing the relationship continue to grow in working with Chinese companies going global and international companies entering the Chinese market from the Hong Kong platform.”

Peter Hughes, Managing Director of Apex Fund Services Limited spoke about Bermuda’s competitive edge in the fund market and the range of products made available in Bermuda for small to medium sized fund managers – including start-ups.

Minister Furbert stated: “This is my first visit to Hong Kong. The Bermuda government believes Hong Kong is an important global player and key partner for Bermuda. We are leading financial jurisdictions at the center of global business – Hong Kong is one Asia’s premier financial and commercial centers, and Bermuda is a gateway to the U.S and Europe for Asian business interests. But Bermuda is much more than a leading financial jurisdiction. We offer a value added brand that includes all of the above and much, much more.”

Minister Furbert again raffled a free round trip to Bermuda. The winner, Zulf Mir of The International Securities Consultancy Ltd. in Hong Kong, can look forward to meeting some of Bermuda’s top firms such as Appleby and Conyers Dill and Pearman.

This is the last leg of an Asia road show that saw the Minister and Ms Packwood lead business delegations to Shanghai and Beijing in April. Before holding a media briefing and cocktail reception at the Grand Hyatt Hong Kong, Business Bermuda met with the Hong Kong Trade and Development Council for the second successive year.

The delegation arrived in Hong Kong after a Singapore visit where Business Bermuda sponsored the Shorex Wealth Management Forum 2012. During the forum, Minister Furbert and Ms Packwood delivered informative presentations on Bermuda’s strengths as an offshore financial center and the strong developing business relationship between the two jurisdictions in wealth management.

Business Bermuda’s 2012 international marketing campaign has thus far seen the organisation host and sponsor events in major international business centers such as Shanghai, Beijing, London and Paris. 

Commenting on the Hong Kong meetings and events, Ms Packwood said: “Following our successful trip to China earlier this year, this is a great opportunity to come back to the region to refresh longstanding relationships in one of the most important international financial centers in Asia. The Asian market, with China at its center, is strategically important for Bermuda, so we need to ensure we build relationships with the business community in Hong Kong which plays a key role in the globalization of China’s companies. At the same time, Bermuda is an important partner to Hong Kong listed companies.”

She added, “We are very pleased to come back to Hong Kong. I find the best way to build business relationships here is to come in person and discuss how we can help businesses with the people on the ground. Our participation in the conference of the China Council for the Promotion of International Trade in Beijing earlier this year, for example, began through a meeting held in Hong Kong in April 2011. We look forward to presenting the benefits of doing business in Bermuda – which is one of the world’s premier offshore business jurisdictions.”