HK, Finland sign MOU on information technology

January 14, 2000

Advances in information and telecommunications technologies are shrinking physical distance and bringing people from different parts of the world closer together, the Secretary for Information Technology and Broadcasting, Mr K C Kwong, said.

He added that as the world was becoming a truly global village in which business opportunities abound everywhere and threats can come from anywhere, global cooperation and partnership was the key to success.

Mr Kwong made the remark today (Friday) when he signed a Memorandum of Understanding (MOU) with the Finnish Government on cooperation in information technology, information services and telecommunications between the two places.

Signing on behalf of the Finnish Government was Mr Olli-Pekka Heinonen, Minister of Transport and Communications.

The HKSAR Government has so far signed MOUs on IT cooperation with Canada, Australia and the United Kingdom respectively. Since these three MOUs were signed, Hong Kong and its partners have organized a number of activities under the MOUs which prove to be mutually beneficial and enriching.

This has encouraged us to explore the opportunities for entering into similar co-operation arrangements with other countries, Mr Kwong said.

"As we all know, Finland is one of the world's leaders in wireless telecommunications and an equally impressive trend setter in information and other communications technology. Hong Kong on the other hand is an exemplary user of technology. We are also noted for our marketing expertise and networking excellence in the region. I therefore firmly believe that co-operation between Finland and Hong Kong will help to advance our mutual interests in the rapidly evolving fields of information technology, information services and telecommunications," he said.

The Hong Kong-Finland MOU contemplates an extensive range of co-operative activities, from commercial and industrial exchanges to investment and technology partnerships, from educational and learning exchanges to the sharing of policy and regulatory information.

"I am confident that with our concerted efforts, the MOU that we are about to sign will deliver the benefits it promises," Mr Kwong said.

Earlier at the opening of the Finnish IT and Telecommunications Seminar, Mr Kwong noted that e-business would be the engine of growth in the new millennium. The Hong Kong SAR Government had taken a number of initiatives to promote the wider adoption of e-business in the territory.

According to industry estimates, the total value of products and services transacted over the Internet in Hong Kong will increase from US$60 million in 1998 to US$2.4 billion by 2003.

The potential market in the Mainland of China is even more impressive : the number of Internet users has doubled from about two million in 1998 to some four million in 1999; and the electronic commerce turnover is forecast to leap from a minuscule US$8.1 million in 1998 to US$3.8 billion by 2003.

"With the increasingly close ties between the Mainland and Hong Kong, and the affinity on the basis of a common language and culture between the two places, businesses in Hong Kong are uniquely well placed to capitalise on the opportunities in the Mainland by taking advantage of the development of electronic commerce there.

"I am confident that you will find excellent and rewarding opportunities for doing business in Hong Kong as well as consider using Hong Kong as a bridge to the enormous market in the Mainland of China," Mr Kwong told the seminar.

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