HONG KONG MARKET
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THE COMPETITION
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Many countries promote openly and actively in Hong Kong but because of the sensitive Hong Kong-UK-PRC political relationship in the build-up to 1997 HMG cannot be seen to be overtly encouraging Hong Kong companies to withdraw capital and support from Hong Kong.
NEDC's long term presence in the market, however, is recognised by all sides as operating in a sensible, low profile and, so far, trouble free manner without excessive local publicity and without prejudicing the status of the British Trade Commission, the official UK presence there.
Wot about the Govermes?
Nevertheless, Hong Kong investment like any international investment
is welcome in UK and especially in the North East so in this instance it is necessary to be able to offer an efficient immigration-oriented
package as part of our promotional kit if competitors from Eire, Canada, Australia etc are not to scoop the pool.
The Irish Position is clearly set out in the attached letter, given to the writer by a Hong Kong company, which unequivocally states that when the IDA supports industrial projects from Hong Kong, the principals of the companies concerned will receive residence permits and be able to apply for Irish passports. It will not be forgotten, of course, that an Irish passport will afford the holder the right to enter UK and even
vote!
Again, it is interesting to note the authority invested in the IDA in that employment permits (work permits) will be automatically granted by the Department of Labour on their recommendation. A far different
scenario to that which exists in UK where the issue of work permits is again a difficult and time-consuming process with no element of "automatically" whatsoever.