539 overseas firms expand in HK

This is the highest number of companies assisted by InvestHK to date.

Invest Hong Kong (InvestHK) has announced that 539 overseas and Mainland companies set up or expanded their businesses in Hong Kong in 2024, marking a 41% increase from the previous year.

This is the highest number of companies assisted by InvestHK to date/

Total investments brought into Hong Kong reached a record $67.7b, up nearly 10% from 2023. These companies are expected to create 6,864 new jobs, a 67% increase from the previous year.

The top sectors attracting investment were innovation and technology, financial services and fintech, family offices, tourism and hospitality, and business services. The leading sources of investment came from the United States, Europe, and Asia.

Alpha Lau, director-general of Investment Promotion at InvestHK, said that the results show strong confidence from overseas and Mainland businesses in Hong Kong’s role as a regional business hub.

She also highlighted the success of the New Capital Investment Entrant Scheme (New CIES), which has attracted over 800 applications since its launch in March 2024, expected to bring $24b in investments.

InvestHK said it will focus on attracting quality investments in areas like research and development, treasury management, and regional management headquarters, whilst promoting emerging industries such as technology and cultural industries.

Additionally, efforts will intensify in Southeast Asia and Eastern Europe to strengthen Hong Kong’s position as a gateway for regional business expansion.

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