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Invest Hong Kong assists record number of overseas and Mainland companies to set up or expand in Hong Kong

Invest Hong Kong (InvestHK) today (February 23) announced that the department had assisted 391 overseas and Mainland companies to set up or expand in Hong Kong in 2016. This number represents an all-time high and a year-on-year increase of 4.3 per cent.

InvestHK’s Acting Director-General of Investment Promotion, Dr Jimmy Chiang, said he was delighted to see the continued increase in the number of companies assisted in 2016.

“2016 was another record year for InvestHK in terms of the number of companies assisted. Despite ongoing challenges in the global economy, Hong Kong continues to attract overseas and Mainland investors because of its enduring advantages and emerging business opportunities,” Dr Chiang said.

“In the year ahead, we will continue to identify investors from key sectors and markets. Our targets include companies ranging from entrepreneur-led ventures to multinationals that plan to set up or expand in our city,” he added.

2016 Annual Results: Highlights

The 391 companies came from 40 economies. Mainland China continued to lead with a total of 82 companies, followed by the US (59), the UK (40), France (23) and Japan (20).

In terms of sectors, InvestHK assisted 58 companies in the “Transport & Industrial” category, followed by “Tourism & Hospitality” (56) and “Innovation & Technology” (53).

The 391 companies together created 3,968 new jobs in their first year of establishment or expansion, which represented a nearly 9 per cent increase compared with the 3,641 new jobs created by the companies assisted by InvestHK in 2015.

Among the 391 companies, 35 of them are start-ups, which are mainly from the US (8), the UK (7) and France (5). These start-ups were innovation-driven and technology-based with global scalability. InvestHK will continue to promote Hong Kong’s start-up ecosystem with its flagship StartmeupHK Festival.

Looking Forward

Dr Chiang said that InvestHK will continue to reach out to potential clients in priority markets including Mainland China and those in Association of Southeast Asian Nations economies and provide assistance for them to establish their presence in Hong Kong.

“We are looking to 2017 with cautious optimism. Despite the global economic uncertainty, we have a strong pipeline of companies and are optimistic that we will be able to meet our annual target of assisting 400 companies to set up or expand in Hong Kong in 2017,” Dr Chiang said.

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government established in 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong’s vibrant economy. For more information, please visit www.investhk.gov.hk.

Ends

Thursday, February 23, 2017