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Int'l business people unhappy with costs, pollution in H.K

Asian Economic News, Jan 15, 2001

HONG KONG, Jan. 11 Kyodo

The majority of international businesspeople are unhappy with the cost of doing business in Hong Kong and with its pollution problem, according to a survey released Thursday.

Most businesspeople are also unhappy at the standard of the English language in Hong Kong, it showed.

The survey among members of international chambers of commerce in Hong Kong showed that 74% of the nearly 1,500 respondents feel the cost of doing business is either ''very unsatisfactory'' or ''somewhat unsatisfactory.''

This was despite 90% expressing confidence in Hong Kong's business prospects and 96% being positive about their own business outlook in the territory over the next three years.

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The study was conducted by the Better Hong Kong Foundation, an organization formed by leading Hong Kong businesspeople to promote the territory, and the International Hong Kong, a group comprising international chambers of commerce and business organizations.

On environmental problems, most respondents rated the quality of Hong Kong's air, water and noise as unsatisfactory, with 88%, 74% and 83% saying so, respectively.

About 59% of the businesspeople polled, meanwhile, said the standard of the English language in Hong Kong was a serious concern.

Among the respondents were chamber of commerce members from Britain, Japan, Sweden and the United States.

But Christopher Hammerbeck, executive director of the British Chamber of Commerce in Hong Kong, told a press conference that investors will not be deterred by such negative factors from doing business in Hong Kong, given the territory's strong fundamentals such as a favorable tax system.

The challenge for Hong Kong is how to stay competitive after China's accession to the World Trade Organization and to continue adding value to its business environment so that investors will find it worthwhile to keep their businesses here, Hammerbeck said.

The survey also found that 89% of respondents who have regional headquarters in the territory intend to keep Hong Kong as their regional base over the next three years.

But only 39% of all business people surveyed said they would expand their operations in Hong Kong. The rest indicated they would maintain a status quo.

Int'l business people unhappy with costs, pollution in H.K

Asian Economic News, Jan 15, 2001

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