InvestHK assists record number of overseas and Mainland companies to set up or expand in Hong Kong
Invest Hong Kong (InvestHK) today (25 January 2018) announced that the department assisted 402 overseas and Mainland companies to set up or expand in Hong Kong in 2017.
The number represents an all-time high and a year-on-year increase of 2.8 per cent. The number of jobs thereby created (5,098) also rose by 28.5 per cent over the previous year’s figure.
InvestHK’s Director-General of Investment Promotion, Mr Stephen Phillips, said he was delighted to see the continued increase in the numbers in 2017.
“2017 was another record year for InvestHK in terms of the number of companies assisted and the number of jobs created. Hong Kong continues to attract overseas and Mainland investors because of its core advantages and emerging business opportunities, especially in the light of the Belt and Road Initiative and the latest developments in the Guangdong-Hong Kong-Macao Bay Area,” Mr Phillips 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.
2017 Annual Results: Highlights
The 402 companies came from 47 economies. Mainland China continued to lead with a total of 86 companies, followed by the US (47), the UK (35), Australia (23) and Japan (22).
InvestHK assisted companies from a broad range of sectors, including 61 in the Transport & Industrial category, followed by Tourism & Hospitality (59) and Innovation & Technology (53).
The 402 companies together created 5,098 new jobs in their first year of establishment or expansion, which represented a 28.5 per cent increase compared with the 3,968 new jobs created by the companies assisted by InvestHK in 2016.
Mr Phillips said that InvestHK will continue to support and work with 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. The department will also promote Hong Kong’s unique role in terms of the Belt and Road Initiative and Bay Area developments.
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 for overseas and Mainland companies enrolled as its clients. For more information, please visit www.investhk.gov.hk.