InvestHK has assisted 223 mainland and overseas enterprises from January to April 2025, marking a 13 percent increase compared to the same period last year, according to Bernard Chan Pak-li, undersecretary for Commerce and Economic Development.

His statement came as lawmakers expressed concerns regarding the government's promotional efforts to attract investments and enterprises to the city.

Speaking at the Legislative Council on Wednesday, Chan anticipated that the newly established companies would bring in over HK$22.3 billion in direct investment and create more than 4,900 jobs within their first year of operations.

Notably, more than a quarter of these companies—originating from China, the United States, Japan, the United Kingdom, and Singapore—plan to establish international or regional headquarters in Hong Kong, with services spanning finance, fintech, innovation technology, and tourism.

Chan further noted that the Office for Attracting Strategic Enterprises (OASES) has successfully attracted 84 companies, many of which aim to set up their international or regional headquarters in Hong Kong.

To assist these enterprises in establishing business in the city, Chan indicated that InvestHK and OASES provide one-stop customized support services, including information on Hong Kong's tax regime and concessions, as well as talent admission inquiries.

Meanwhile, the Hong Kong Talent Engage (HKTE), established on October 30, 2023, has received over 45,000 applications for various talent admission schemes, with more than 35,000 approved in the first four months of this year.

Addressing concerns about the impact of US tariffs on the city's business community, Chan emphasized the necessity of maintaining Hong Kong's status as a free port with zero tariffs to ensure a stable operating environment for investment.

Leveraging the city's advantages under one country, two systems concept, Chan believes Hong Kong can strengthen ties with traditional markets while exploring new opportunities in regions such as the Middle East, ASEAN, and Latin America.

Under the changing market, Chan highlighted the importance of adopting innovative strategies to connect overseas investments with mainland enterprises amidst tariff conflicts, thereby enhancing the city's role as a "super connector."

InvestHK opens doors for 223 mainland and overseas enterprises in Q1