American companies that postponed business travel to Hong Kong are expected to resume their trips with today's lifting of the US Centres for Disease Control & Prevention's travel advisory.

InvestHK Director General Mike Rowse said that in the wake of the CDC's "excellent news" he expected business travel to resume later this month, getting into full gear in the third quarter.

The second wave of travel will come from short haul tourists from Guangdong and Southeast Asia by the third quarter. Visits by tourists from Japan and Singapore will follow.

However, long haul leisure travel from the US and Europe, whose nationals have probably booked their holidays, will take some time.

Meanwhile, as part of the Government's special campaign to re-launch Hong Kong's economy, the department will soon host a Government House reception for new foreign and Mainland investors in Hong Kong.

It is also planning to sponsor some high-level business conferences in the second half of 2003 to raise Hong Kong's profile in the international arena. They include the Cable & Satellite Broadcasting Association of Asia and the Business Week CEO Forum.

InvestHK will strengthen its investment promotion efforts to attract and retain foreign investors.

The department will boost investment promotion by "adding fire" to its external representation by covering new, potential markets.

He said the department will engage nine consultant companies specialising in investment promotion in nine locations overseas to undertake promotional activities.

InvestHK will strengthen its presence in existing markets where there are opportunities for attracting further foreign direct investment, such as the US, Japan, Europe, Canada and Australia.

To leverage on its strategic role as a two-way platform between the Mainland and the rest of the world, InvestHK will attract Mainland companies to establish offices in Hong Kong with specific focus on Beijing, Tianjin, Shanghai, Jiangso and Zhejiang.

Moreover, it will increase the frequency of holding joint marketing activities with other cities in the Pearl River Delta.