InvestHK projects 47% rise in Belt & Road companies’ presence in 2024

In H1 2024, 15% of newly-expanded firms in Hong Kong were from Belt and Road economies.

For 2024, the number of companies from Belt & Road economies is projected to reach 94, increasing 47% year-on-year (YoY), according to InvestHK.

In H1 2024, InvestHK has assisted 322 firms in setting up or expanding their operations in Hong Kong, following the 328 firms assisted for the whole of 2023.

With these current numbers, the department also expects to surpass the 2022 Policy Address target of attracting 1,130 companies within three years.

Fifteen percent or 47 out of the 322 companies assisted in H1 2024 are from economies involved in the Belt and Road Initiative, including 18 from Singapore, eight from South Korea, four from Malaysia, and another four from the United Arab Emirates.