New HK$5000 Consumption Vouchers for Hong Kong Given Out in April 2023
Consumptions vouchers worth HK$5000 will be given to Hong Kongers in two batches to revitalise the economy, Financial Secretary Paul Chan announced.
by: The Beat Asia
October 20, 2022
As part of his 2022 Policy Address, Hong Kong Chief Executive John Lee announced the establishment of a HK$30-billion Co-Investment Fund aimed at attracting overseas technology companies and foreign talent to set up operations in the city.
The seed money is to be derived from the Future Fund. The scheme is to be led by the Financial Secretary at its head, with assistance from the Monetary Authority in its earlier stages. There is to be a committee board of professionals within the tech industry to conduct evaluations of applicants for their strategic development value.
Lee states that “the main purpose of the Co-Investment Fund is not looking for financial return. That's investment only. So it's not the financial return that we want from the investment, it's more on how that investment can help develop Hong Kong's capabilities, attractiveness and potentials, attracting the right companies to come to Hong Kong which people will know.”
Companies taking part in the programme will receive subsidisation from the government, which Lee hopes will in turn encourage investment from private parties.
Subscribe to The Beat's newsletter to receive compelling, curated content straight to your inbox! You can also create an account with us for free to start bookmarking articles for later reading.