Hong Kong may welcome more top European, US and Asian innovators in early 2024, technology minister says
- Technology minister Sun Dong says government goal of luring 100 top enterprises to Hong Kong in five-year window proving ‘immensely challenging’
- ‘We have recently been in discussions with several companies, not necessarily limited to Europe and the US, but also some well-known Asian companies,’ he adds
Hong Kong may welcome more leading companies from Europe, America and the rest of Asia by early 2024, the city’s technology chief has said, pledging that authorities will also help turn local start-ups into industry giants.
Secretary for Innovation, Technology and Industry Sun Dong on Sunday said that fulfilling the government’s goal of luring 100 strategic companies to set up shop in Hong Kong over a five-year window was “immensely challenging”.
He noted that about 30 companies had committed to establishing themselves in the city, with most coming from mainland China.
“We have recently been in discussions with several companies, not necessarily limited to Europe and the US, but also some well-known Asian companies,” he told a TV programme, but stopped short of naming the businesses.
“It is possible that we will see the establishment of these renowned overseas companies in Hong Kong as early as the beginning of [2024].”
In 2023, Hong Kong had 9,039 companies with head offices located outside the city, a 0.6 per cent increase compared with 8,978 in the previous year. The latest count was in line with the pre-coronavirus level of 9,040 companies recorded in 2019.
Mainland companies accounted for the highest number of firms in 2023, reaching 2,177. Japan followed with 1,403 companies, while the United States accounted for 1,273, Britain for 641 and Singapore for 477.