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AmCham Chairman Jim Thompson says Hong Kong offers a package different from other Asian cities that will continue to make it attractive to foreign companies in the longer term.

The special dimensions of Hong Kong include a welcoming business environment supported by an effective legal system and a low and simple tax structure.

"Companies are truly welcomed when they set up in Hong Kong, and it is a city that allows businesses and investors to make a profit," he told a business forum yesterday.

His comments came after the embattled chairman discussed AmCham's plan to produce a promotional video of the troubled Harbour Fest.

He said free flow of information in Hong Kong and the fundamental freedoms maintained since the handover combined with the rule of law have kept overseas businesses in the territory.

"The reduced cost of running businesses in Hong Kong has increased investors' confidence in the territory, while we have successfully moved away from a manufacturing-based economy to a service-oriented one, and Hong Kong has obviously made its comeback after enduring setbacks this year," said Thompson.

"I don't see Hong Kong losing its position as a financial centre anytime in the near future, and it will remain a financial hub in the region for many years to come."

Thompson suggested Hong Kong should launch more initiatives to develop its creative arts industries even as the territory is one of the most creative cities in the region.

"Hong Kong is a place where the international community comes to trade goods, and we should continue to cultivate the city as a trade mart for Asia," he added.

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