Japanese shipping giant Mitsui O. S.K Lines (MOL) said in Hong Kong Tuesday that it is proud to be part of Hong Kong's dynamic and exciting business culture and looks forward to continued business success in Hong Kong.
Unveiling its new strategy at a press conference, Kunio Suzuki, president of the MOL, announced the company will expand its business worldwide, mainly on the involvement in non-Japanese trade such as the Intra-Asia and Trans Atlantic fronts.
Hong Kong will continue to be the controlling center of the MOL's Asian region business interests, he said.
Starting business in Hong Kong in 1897, the MOL considers Hong Kong a key hub within the Asia Pacific region and made Hong Kong its regional headquarters in 1998. The 117-year-old MOL now operates a fleet of about 490 vessels, or 33 million deadweight tons worldwide.
Suzuki said a major boost in trade activities is anticipated following China's entry into the World Trade Organization (WTO) and Hong Kong will benefit much from it.
He said there are many reasons for the MOL to select Hong Kong as its business base for the Asian region, referring to its competitive labor cost, advanced telecommunications and IT infrastructure and quality manpower.
After China's entry into the WTO, it will take some time for other Chinese regions to compete with Hong Kong, he said, but Hong Kong needs to move forward to maintain its position as a premier business location in Asia.
(xinhua 06/13/2001)
