Invest Hong Kong Assists Record Number of Companies

Invest Hong Kong Director-General of Investment Promotion, Simon Galpin (right), and Associate Director-General, Francis Ho, present Invest Hong Kong’s 2014 annual results

Invest Hong Kong (InvestHK) announced that the department assisted 355 overseas and Mainland companies to set up or expand in Hong Kong in 2014.  The number represents an all-time high and a year-on-year increase of 5.4 percent.

InvestHK’s Director-General of Investment Promotion, Simon Galpin, said he was delighted to see the increase in completed projects in 2014.

“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,” Mr. Galpin 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,” Mr. Galpin added.

2014 Annual Results: Highlights

The 355 completed projects came from a record 47 economies. Mainland China continued to lead with a total of 75 projects, followed by the U.S. with 44 completed projects, the U.K. (32), Japan (28) and France (25).  For the first time, InvestHK helped companies from Bangladesh, Cyprus, Kuwait, Poland, Romania and Tajikistan to set up in Hong Kong.

In terms of sub-sectors, the department assisted a growing number of companies in asset management, food and beverage and software solutions to set up or expand in Hong Kong.

In terms of startups, InvestHK assisted 62 founders and entrepreneurs to start their businesses in Hong Kong in 2014, or 17.5 percent of its total number of projects.  These start-ups were from diverse source economies and included France (11), the U.S. (10) and the UK (7).  According to a recent survey by InvestHK, there are 1,065 start-ups operating out of 35 co-work locations in Hong Kong.

Looking Forward

Mr. Galpin said that InvestHK will continue to reach out to potential clients in priority markets including Mainland China and those in Association of Southeast Asian Nations economies.  In terms of sub-sectors, the department will focus on financial technology, e-commerce and maritime services.

Mr. Galpin noted that the department hopes to generate more projects from markets where it has set up new offices including Mexico and Wuhan, Mainland China.  He also pointed out that the number of companies setting up regional headquarters, regional offices and local offices in Hong Kong with a parent overseas or in the Mainland reached a record 7,585 in 2014, demonstrating Hong Kong’s continued appeal as an international business destination.

“We are looking to 2015 with cautious optimism. Notwithstanding global economic uncertainty, we have a strong pipeline of companies and are optimistic that we will be able to meet our annual target of assisting 370 companies in 2015,” Mr. Galpin said.

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