HKTDC’s New Executive Director Outlines Strategies

	Margaret Fong meets the press in her first media briefing since she became Executive Director of the HKTDC on 1 October 2014. She spoke about her strategies for the HKTDC’s work in creating opportunities for Hong Kong companies and promoting Hong Kong’s economic and trade development

11 November 2014 – Margaret Fong, the newly appointed Executive Director of the Hong Kong Trade Development Council (HKTDC), outlined her vision for the Council’s work during a meeting with media representatives today. Ms Fong, who took up her new post on 1 October, highlighted the HKTDC’s commitment to creating business opportunities for Hong Kong companies amid a difficult economic environment, while attracting mainland and international enterprises to expand their business through Hong Kong.

Ms Fong explained that, with a history of almost 50 years, the HKTDC is a very well-developed organisation. She said the Council will continue to be a competitive and proactive in providing Hong Kong SMEs with a full range of support services. She also outlined three strategic directions to help Hong Kong companies, especially SMEs, seize global business opportunities.

“Although there are a number of challenges in the overall business landscape, we believe that there are also many opportunities out there,” Ms Fong said. “But Hong Kong companies should also adjust their business strategies in response to the new circumstances. They could, for example, expand into traditional and emerging markets simultaneously as a way to diversify risks and open up more business opportunities in professional services by making good use of IT.”

“Hub Concept” to Expand Business Opportunities
Ms Fong said the Council will aim to help Hong Kong stay competitive and relevant, by following three strategic directions to help local companies seize global business opportunities. First, promote trade in products and services, while supporting Hong Kong companies to open up new markets. Ms Fong stressed that the Council’s work in emerging markets is on-going and promotion strategies will be adjusted according to market conditions. “Emerging markets have taken a stronger role in leading global economic development.

In the next one or two years, the HKTDC will put more resources into expanding business opportunities in a number of emerging markets. We will mainly focus on different regional hubs and, through these hubs, help Hong Kong companies open up new markets in neighboring regions. For example, Indonesia will be the hub for ASEAN; Turkey will be the hub for Central Asia, and Dubai for the Middle East.”

The same strategy is applicable to developed markets like the United States, Ms Fong added, where the focus will be on New York, Chicago and Los Angeles. For Europe, the hub will be Frankfurt. This “hub concept” strategy will be adopted for both product and services promotion.

Hong Kong – Asia’s Business Centre
The second strategic direction, according to Ms Fong, is for the HKTDC to promote Hong Kong’s services industry and help establish the city as Asia’s business services hub. Ms Fong said that, as Hong Kong transforms, the HKTDC is also taking on the new role of promoting Hong Kong as Asia’s business capital. “In a global business context, irrespective of whether an Asian enterprise wants to “go global” or a foreign company wants to come to Asia, Hong Kong, with its world-class services, is the main bridge linking Asia with the rest of the world,” Ms Fong said.

Besides business, Hong Kong has to uphold its status as a fashion capital, Ms Fong added. As well as organising large-scale activities overseas to promote Hong Kong brands, the HKTDC is also “selling” Hong Kong’s stylish image through a number of exhibitions related to entertainment, design and lifestyle. The Council is expanding its Design Gallery network in the Chinese mainland and Hong Kong, to widen its promotion of Hong Kong designer brands and creative industries.

Ms Fong pointed out that Hong Kong would become an increasingly important IP trading centre. “Hong Kong has a sound legal system and its IP laws are in line with international norms, so there is ample protection of IP transactions and opportunities to realise Hong Kong’s potential as Asia’s IP centre.” The “Asia IP Exchange” (AsiaIPEX), launched by the HKTDC last December, is a platform for over 25,000 tradable IP items, Ms Fong noted.

The IT Edge
Third, the HKTDC will strive to enhance the capabilities and add value for SMEs through new developments in IT. Ms Fong said: “The HKTDC has always offered SMEs the most effective sales and promotion channels through our trade fairs and exhibitions and also online.” She highlighted the importance of “hktdc.com” (http://www.hktdc.com), which is a sourcing and information platform; the online Small Order concept (http://smallorder.hktdc.com), and the online HKTDC Design Gallery (http://hkdesigngallery.hktdc.com) as well as the AsiaIPEX portal (http://www.asiaipex.com).

“The HKTDC will further step up its efforts to use new media to help raise the competitiveness of SMEs,” Ms Fong said. “For example, the newly launched Hong Kong Means Business (http://hkmb.hktdc.com) is a one-stop website that brings quicker and more comprehensive business news to SMEs. We will also strengthen training activities so that SMEs can grasp the latest new media trends and technologies and deploy market strategies accordingly.”

Margaret Fong Profile
Margaret Fong took up the post of Executive Director of the Hong Kong Trade Development Council (HKTDC) on 1 October 2014. With a global network of more than 40 offices, Ms Fong heads this international team whose mission is to create and facilitate opportunities in global trade for Hong Kong-based companies. She joined the HKTDC in 2010 as Deputy Executive Director, responsible for the international promotion of Hong Kong's product and service industries and the Council's office network worldwide.

Ms Fong has worked in a variety of public service posts, beginning her career as an Administrative Officer with the Hong Kong Government. From 1997 to 1999, she served as Deputy Director-General in the Washington Economic and Trade Office of the Hong Kong SAR Government.

Ms Fong was Deputy Secretary for Transport from 1999 to 2004, Director-General of the Washington Economic and Trade Office from 2004 to 2006, and Commissioner for Economic and Trade Affairs, USA, from 2006 to 2008, representing the Hong Kong SAR Government in the United States. Before joining the HKTDC, Ms Fong was the Commissioner for Tourism from November 2008 to the end of 2009. She is a graduate of the University of Hong Kong.

Ms Fong is a member of the Working Group on Convention and Exhibition Industries and Tourism under the Economic Development Commission, the Consultative Committee on Economic and Trade Co-operation between Hong Kong and the Mainland, the Aviation Development Advisory Committee, and the Hong Kong Logistics Development Council.

Media Enquiries
Please contact the HKTDC's Corporate Communication Department:

Joe Kainz     Tel: (852) 2584 4216           Email: joe.kainz@hktdc.org

About HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in overseas markets, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com.