Bane of tariffs 'boon for HK investment promotions'
InvestHK chief Alpha Lau says around 1,300 enterprises have come to Hong Kong since 2023, with almost half of them made up of mainland companies. Photo: RTHK
Invest Hong Kong director-general Alpha Lau said on Monday the disruption caused by US tariffs is an opportunity for the SAR to attract more business.
She made the comment as the government's investment promotion agency said that over the past two years it had attracted more than HK$168 billion in investments to the city, more than twice the target laid out in the 2022 Policy Address.
"We do not want to see the world being affected by new tariffs, or the US changing the established trade rules that we've been using for decades," Lau said.
"But having said that, since it's happening anyway, we believe that Hong Kong is an ideal platform to turn these dangers into opportunities because most companies around the world require stability to do business," she added.
Around 1,300 enterprises have entered Hong Kong since 2023, with almost half of them made up of mainland companies, followed by those from the United States, United Kingdom and Singapore.
More than half of the enterprises were from the finance, technology and innovation and family offices.
Meanwhile, more than 670 applications have been approved through the New Capital Investment Entrant Scheme introduced in March last year, bringing in HK$21 billion.
The scheme grants longer-term visitor's visas to applicants who will invest a minimum of HK$30 million into the city's technology and innovation sectors and permanent residency after they have stayed here for seven years.
Lau said the agency has assisted more than 7,700 enterprises to set up offices in Hong Kong, bringing in more than HK$440 billion.
She said InvestHK would continue to promote the SAR in both traditional and new markets and be in line with policies such as the low-altitude economy, liquor trade and the Northern Metropolis.
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