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09/10/2001
Health industry and universities explore Hong Kong potential
A major initiative to assist Northern Ireland's health technology companies and universities develop business partnerships in Hong Kong and China has been announced by Sir Reg Empey, Minister for Enterprise, Trade and Investment.
Making the announcement of the initiative by Trade International, the export and trade arm of IDB, Sir Reg said the market for health technology products and services was vast. The business opportunity, for example he explained, in Hong Kong is currently reckoned to be worth around £300 million annually.
The Minister said: "Hong Kong is the gateway to China, a market with 1.3 billion consumers which is projected to grow by eight per cent annually over the next few years.
"In Hong Kong alone there are 45 state hospitals and 65 general clinics in a highly subsidised healthcare sector which accounts for almost 15 per cent of recurrent public spending. Spending on health is also controlled by an effective and efficient public tendering process which ensures a level playing field for companies seeking business there.
"Initial research has pinpointed opportunities for others, particularly in sectors such as products for the country’s ageing population and in clinical testing, diagnostics, biotechnology and in consultancy services. University of Ulster research units have also been building links with similar institutions in China.
"We are keen to involve the universities in the programme because China is particularly keen to promote technology transfer, a focus which offers significant opportunities for local centres of excellence at Queen's University and the University of Ulster.”
Senior executives of local companies and representatives from Queen's University and the University of Ulster were briefed about opportunities in health technologies in Hong Kong and China at a seminar in Belfast organised by Trade International.
Taking part in the event, which included a video conference link with the British Consulate General in Hong Kong, were senior officers of the Association of British Healthcare Industries, the Department of Trade and Industry, and Quality Healthcare Asia, one of Hong Kong's leading providers of clinical care services.
Future initiatives linked to this are a trade mission to Hong Kong and China in November and a further mission for health technology companies and organisations to Hong Kong in January. (MB)
Making the announcement of the initiative by Trade International, the export and trade arm of IDB, Sir Reg said the market for health technology products and services was vast. The business opportunity, for example he explained, in Hong Kong is currently reckoned to be worth around £300 million annually.
The Minister said: "Hong Kong is the gateway to China, a market with 1.3 billion consumers which is projected to grow by eight per cent annually over the next few years.
"In Hong Kong alone there are 45 state hospitals and 65 general clinics in a highly subsidised healthcare sector which accounts for almost 15 per cent of recurrent public spending. Spending on health is also controlled by an effective and efficient public tendering process which ensures a level playing field for companies seeking business there.
"Initial research has pinpointed opportunities for others, particularly in sectors such as products for the country’s ageing population and in clinical testing, diagnostics, biotechnology and in consultancy services. University of Ulster research units have also been building links with similar institutions in China.
"We are keen to involve the universities in the programme because China is particularly keen to promote technology transfer, a focus which offers significant opportunities for local centres of excellence at Queen's University and the University of Ulster.”
Senior executives of local companies and representatives from Queen's University and the University of Ulster were briefed about opportunities in health technologies in Hong Kong and China at a seminar in Belfast organised by Trade International.
Taking part in the event, which included a video conference link with the British Consulate General in Hong Kong, were senior officers of the Association of British Healthcare Industries, the Department of Trade and Industry, and Quality Healthcare Asia, one of Hong Kong's leading providers of clinical care services.
Future initiatives linked to this are a trade mission to Hong Kong and China in November and a further mission for health technology companies and organisations to Hong Kong in January. (MB)
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