HKPC launches 30% manpower cost subsidy for new industrialisation 

It will be available until 31 March 2025.

The Hong Kong Productivity Council (HKPC) will offer a 30% concession on manpower costs for companies participating in the "New Industrialisation Funding Scheme" (NIFS) starting 1 August. 

The eight-month subsidy initiative will be available until 31 March 2025. It covers a range of services including business assessments, development planning, funding application support, and smart industrialisation solutions. 

The HKPC’s subsidy is designed to streamline the process for companies seeking government funding, facilitate their transition to smart production, and boost their overall competitiveness. By leveraging HKPC’s expertise and the I&T Fund's support, the council aims to assist in the establishment of 80 smart production lines by 2026, spanning industries such as life sciences, new materials, electronics, food, and textiles.

The NIFS, introduced by the Innovation and Technology Commission under the Innovation and Technology Fund (I&T Fund), supports manufacturers setting up new smart production lines in Hong Kong. It offers a 1:2 government-to-company matching grant, up to $15m or one-third of the project’s total cost. Each company may submit up to three applications or projects, with a potential maximum subsidy of $45m.

“As the strongest backbone for the industrial and commercial sectors, we hope this concession measure can lower the threshold for enterprises to undergo digital transformation and upgrading, enabling more companies to experience the benefits of digital transformation,” said Mohammed D. Butt, Executive Director of HKPC.