Hong Kong hits record high in business investments as 539 enterprises expand operations

The government’s Invest Hong Kong assisted 539 enterprises in setting up or expanding their businesses in Hong Kong last year -- a remarkable 41 percent increase from 2023, achieving a record high.

Director-General of Investment Promotion Alpha Lau Hai-suen described the year as "fruit-bearing," as these enterprises are expected to generate over 6,800 job opportunities in the region.

Total foreign direct investment also reached more than HK$67.7 billion last year, marking another record high and a nearly 10 percent increase compared to 2023.

The top five locations of origin for the assisted companies include markets from the United States, Europe, and Asia, with 273 of those being mainland corporations.

The leading sectors represented are innovation and technology, financial services and fintech, family offices, tourism and hospitality, as well as business and professional services.

In Chief Executive John Lee Ka-chiu’s 2022 Policy Address, the SAR proposed that InvestHK attract at least 1,130 companies to Hong Kong between 2023 and 2025.

Lau said that this target has been achieved “in proportion.”

"[The result] demonstrates Hong Kong's resilience and adaptability and businesses' strong confidence in the city as the preferred base to expand in the region,” she said.

Also, Lau said that many companies view Hong Kong as a pilot location for entering the Southeast Asian market, while some Southeast Asian brands aim to use the SAR as a stepping stone to access other Asian markets.

(Eunice Lam)