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 Local Small and Medium-Sized Companies Participate in a
 Successful International Forum as Part of State's Efforts to
 Attract Foreign Investment to California'
 LOS ANGELES, Feb. 2 /PRNewswire/ -- The Economic Development Corp. of L.A. County (EDC), in association with American Business Resource (ABR), presented a one-day forum for the visiting "Hong Kong Investment & Technology Mission" focusing on investment, joint ventures, partnerships, licensing arrangements and R & D collaboration in electronics, instrumentation, information technology and communications in Los Angeles on Monday, Feb. 1, 1993.
 The forum featured presentations by six Southern California companies, mostly small and mid-size companies interested in export and investment opportunities, and by six investment bankers involved in aspects of mergers and acquisitions, strategic partnering and technology transfer.
 The highlight of the forum was the opportunity for principals of the Chinese and California companies to meet and talk to each other in private sessions that lasted more than three hours. It was well received by all participants and demonstrated the effectiveness of focused, industry-specific session. All the participants found many mutual areas of interest for further discussion and development.
 The six companies from Hong Kong and the People's Republic of China who made up the mission were guests of the State of California. The Office of Foreign Investment of the Trade and Commerce Agency invited EDC and ABR to organize this forum in the Los Angeles area as part of the state's effort to attract foreign investment to the state of California.
 The forum was held at the conference facilities of Morgan, Lewis & Bockius, an international law firm based in Los Angeles and a member of both ABR and EDC.
 In welcoming the delegation, EDC's chairman, former Gov. George Deukmejian, noted that California started reaching out to foreign business during his administration through the establishment of five State of California overseas offices (in Hong Kong, Tokyo, London, Frankfurt and Mexico City).
 "It is clear," Deukmejian asserted, "that California's economic growth depends in part on international investment and overseas growth." He continued, "EDC stands ready to be a resource to foreign investors and welcomes inquiries from the visiting delegates when they return home."
 "The mission was an example of opportunities available to California companies to obtain export markets, financing and strategic partners from the international business community," stated John Forry, partner in the law firm, who represented ABR at the forum along with Thomas IIno, president of ABR, and Robert Sharp, managing director. "Private groups could assist government," Forry noted, "to facilitate these opportunities presented by foreign investors,"
 Jack Kyser, chief economist at EDC, spoke about the great attractions provided by Southern California to the prospective investor, despite restructuring and recession. "Growth," he said, "would be based on our ability to interact closely with the Pacific Rim economies to offset weaknesses in our traditional pursuits, including commercial aerospace and defense."
 Rohit K. Shukla, director of aerospace and high technology business at EDC, discussed defense conversion which, "despite lack of clarity in the local economy, offered great promise in product areas that demand precision, high speed and error-free protocols, and specifically in data management, communications, information processing, advanced displays and system enhancements."
 -0- 2/2/93
 /CONTACT: Rohit K. Shukla of the Economic Development Corp., 213-462-5111/

CO: Economic Development Corp. ST: California IN: SU:

MS-LS -- LA005 -- 2078 02/02/93 16:41 EST
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Publication:PR Newswire
Date:Feb 2, 1993

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