The delegation of the Legislative Council ("LegCo") Panel on Commerce and Industry concluded its duty visit in Israel yesterday (27 July)(Israel time) and returned to Hong Kong today (28 July)(Hong Kong time).

Before departing for Hong Kong, the delegation visited Viola, a technology oriented private equity investment group in Israel, to gain an understanding of its operation and role in raising capitals for technology start-ups.  Delegation members also exchanged views with the representatives of Viola on the investment prospect of the innovation and technology ("I&T") industry and the government's role in supporting the industry in Israel. 

During the five-day visit, delegation members met with Israeli Government officials, Members of the Israeli Parliament and the representatives of I&T and technology transfer companies to learn the policies and initiatives relevant to the promotion of industrial research and development ("R&D"), and exchanged views on the development and facilitation of the growth of the I&T industry and re-industrialization in the country. 

Hon WU Chi-wai, leader of the delegation, said that the duty visit served as an effective platform for delegation members to obtain first-hand information and useful reference for further discussion with Government officials on the formulation of better policies and measures to propel the development of the I&T industry in Hong Kong. 

"Given the similarities between Hong Kong and Israel in terms of population size and the lack of natural resources, I am sure that the Hong Kong Government can make reference to the experience of Israel as a start-up nation in spearheading the development of the I&T industry, especially the support measures of facilitating the collaboration between academic and business sector for commercializing R&D outputs and fostering a favourable environment for the growth of the industry," Hon WU said.

Meanwhile, on behalf of the delegation, Hon WU Chi-wai expressed his heartfelt appreciation and gratitude to the Israel Ministry of Foreign Affairs and the Consul General of Israel in Hong Kong Special Administrative Region and Macao Special Administrative Region for inviting the delegation to conduct a five-day visit to Israel.  "We are thankful for the warmest hospitality the delegation received during our stay in Israel," Hon WU added.

Led by Hon WU Chi-wai, Chairman of the LegCo Panel on Commerce and Industry, the delegation conducted a duty visit in Israel from 23 to 27 July 2017.  Other members of the delegation include Hon Paul TSE Wai-chun, Hon MA Fung-kwok, Hon Charles Peter MOK, Ir Dr Hon LO Wai-kwok, Hon CHUNG Kwok-pan, as well as non-Panel Members Dr Hon Helena WONG Pik-wan, Hon Alvin YEUNG and Dr Hon Junius HO Kwan-yiu.

Ends/Friday, 28 July 2017
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The delegation of the Legislative Council Panel on Commerce and Industry visits Viola, a technology oriented private equity investment group, to learn about its role in raising capitals for technology start-ups.

Hon WU Chi-wai, delegation leader, presents a souvenir to Ms Natalie REFUAH (left) and Mr Zvika ORRON (centre), Partners of Viola.

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