InvestHK, the investment promotion agency of Hong Kong, reported a remarkable achievement in 2023 by assisting over 300 overseas and mainland companies in setting up or expanding their operations in the city. This represented a substantial 27% increase compared to the previous year.
These companies hailed from 45 different economies, with Mainland China taking the lead with 136 companies, followed by the U.K. with 48, the U.S. with 34, Singapore with 27, and Australia with 13. Such diverse global participation demonstrates Hong Kong's attractiveness as a business destination.
The expansions facilitated by InvestHK contributed significantly to Hong Kong's economy, bringing in a staggering HK$61.6 billion in investments. Moreover, this influx of capital created more than 4,100 job opportunities, signalling a boost to the local employment market.
InvestHK strategically focuses on several sectors, including financial services, innovation and technology, and family offices. This targeted approach allows the agency to capitalise on Hong Kong's strengths and cater to the evolving needs of international businesses.
According to Alpha Lau, the Director-General of Investment Promotion, Hong Kong has emerged as the natural choice for many global multinationals and entrepreneurs looking to redirect their Asian strategies following the COVID-19 pandemic. The city's resilience, strategic location, and robust business ecosystem have made it an ideal base for companies seeking expansion and growth in the region.
InvestHK's exceptional performance in assisting overseas and Mainland firms highlights its commitment to fostering a vibrant business environment in Hong Kong. By attracting substantial investments and creating job opportunities, the agency continues to play a crucial role in driving the city's economic growth and global standing.
