THE NSW Government has announced plans to open an international business office in San Francisco to encourage investment in the technology sector.

 

The Deputy Premier and Minister for Trade and Investment, Andrew Stoner, said the office would be open by January, and would be the NSW business hub for the US.

 

He said San Francisco was chosen because of its ''existing, new and emerging industries concentrated around venture capital and information and communications technology hubs in Silicon Valley''.

 

"The San Francisco office will drive investment, and promote exports and the research and development capabilities of our key industry sectors. These include digital services, information and communications technology and financial services where we have a competitive advantage.''

 

Mr Stoner said that with more than 4000 technology firms around the San Francisco Bay area and Silicon Valley, establishing an on-the-ground presence there would enable the NSW Government to “effectively promote, access and maintain key corporate and government relationships and match NSW strengths to opportunities in the US''.

 

 Mr Stoner said the opening of the San Francisco office would increase NSW’s network of international business offices to five.

 

“Our existing offices are located in Guangzhou and Shanghai in China, Mumbai in India, and Abu Dhabi in the United Arab Emirates − all major international business centres that are key markets for our State.”

 

A director for the San Francisco office is currently being recruited.