Hong Kong Continues To Attract Record FDI
by Mary Swire, Lowtax.net, Hong Kong
09 January, 2015
Invest Hong Kong, the territory's inward investment agency, has announced that it assisted a record number of businesses to establish operations in 2014.
InvestHK's Director-General of Investment Promotion, Simon Galpin, said: "2014 was another record year for InvestHK in terms of completed projects. 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."
The Department assisted 355 overseas and Mainland companies to set up or expand in Hong Kong last year, a year-on-year increase of 5.4 percent. It hopes to increase this number to 370 this year.
Foreign direct investment came from a record 47 economies in 2014. Mainland China continued to lead with a total of 75 projects, followed by the United States (44), the United Kingdom (32), Japan (28), and France (25). For the first time, InvestHK also helped companies from Bangladesh, Cyprus, Kuwait, Poland, Romania, and Tajikistan.
The number of companies with a parent overseas or in the Mainland that set up regional headquarters, regional offices, and local offices reached a record 7,585 in 2014.
In addition, InvestHK set up a dedicated team to assist startups in 2014. During the year, the Department assisted 62 founders and entrepreneurs to start their businesses in Hong Kong, or 17.5 percent of its total number of projects. According to a recent survey by InvestHK, there are already more than 1,000 start-ups operating out of 35 co-work locations in Hong Kong.
"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," Galpin added. He confirmed that InvestHK will continue to reach out to potential clients in priority markets, including Mainland China and Association of Southeast Asian Nations (ASEAN) economies, and the Department will focus in particular on businesses engaged in financial technology, e-commerce, and maritime services.
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