ITC approves first new industrialisation acceleration scheme application

If finalised, Jean-Marie Pharmacal will receive $200m in funding.

The Innovation & Technology Commission (ITC) has approved the first application under the New Industrialisation Acceleration Scheme (NIAS).

If finalised, Jean-Marie Pharmacal, a subsidiary of the Jacobson Group, will receive around $200m in funding for setting up smart production lines for sterilised eye drops, oral solid doses, and oral liquid doses. The total project cost is $600m.

The ITC also reported that over 100 smart production lines have now been supported under the New Industrialisation Funding Scheme (NIFS), with a combined project cost of $1.3b, of which $930m is from private investments.

Prof. Sun Dong, secretary for Innovation, Technology & Industry, highlighted the government’s focus on promoting new industrialisation to drive high-quality development.

He said that the government will continue to support enterprises in setting up smart production facilities and advancing Hong Kong's manufacturing sector.

Launched in September 2024, the $10b NIAS offers funding for enterprises in sectors like life and health technology, AI, advanced manufacturing, and new energy.

Moreover, NIFS also supports the establishment of new smart production lines in Hong Kong.