ADB Welcomes HK Firms to Bid for its Projects in Chinese Mainland

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Last updated at: (Beijing Time) Tuesday, March 11, 2003

ADB Welcomes HK Firms to Bid for its Projects in Chinese Mainland

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The Asian Development Bank (ADB) welcomes more Hong Kong enterprises and HK registered international corporations to bid for its development projects in the Asia-Pacific region, especially projects in the Chinese mainland.

Hiroki Kobayashi, Procurement Specialist of ADB's Central Operations Services, said Tuesday at Asian Development Bank Business Opportunities Seminar that the seminar's emphasis will be placed on projects and opportunities in the Chinese mainland, required by most of the seminar's participants.

Over 100 businessmen from about 70 Hong Kong and foreign consultation and construction companies, including Maunsell Consultants, ATAL Engineering and Deloitte Touche Tohmatsu, attended the seminar.

He said the seminar's individual meetings will enable Hong Kong companies to have a better understanding of the requirement and procedures for bidding ADB funded projects. Hiroki Kobayashi said with over arching goal of poverty reduction in the Asia-Pacific Region, ADB will fund more Chinese mainland projects in central and western areas.

The Japanese specialist said the ADB proposed funding projects in the Chinese mainland in the next two years include road and railway building, environmental protection, energy, power, water supply and wastewater treatment, agriculture and natural resources, private sector development, social development and projects in some other fields.

He explained that the proposed funding projects include Chongqing Road Development, Yunnan Dali-Lijiang Railway, Ecosystem Development and Environment Protection of Baiyangdian Lake, Sichuan Road Development, Water Supply and Sewerage System Development in Jilin Province and some other projects.

Yang Dan, Senior Consulting Services Specialist of ADB's Central Operations Services Office said at the seminar that ADB is a multilateral development finance institution aimed at reducing poverty in the region. It extends loans to its developing member countries for their economic and social development, and provides technical assistance and advisory services for the planning and execution of development projects.

Headquartered in Manila, Philippines, the ADB was established in 1966 and has 61 members. It provides 5 to 6 billion US dollars each year with Japan, the United States and China as its top three shareholders.

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