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Funding support for strategic enterprises to set up in Hong Kong
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(Courtesy of OASES)
H
ong Kong is adopting a targeted approach to attract representative and high-potential strategic enterprises from around the globe to set up or expand their businesses in Hong Kong. The Office for Attracting Strategic Enterprises (OASES) was established in 2022, providing bespoke offerings and tailor-made plans that cover aspects such as land and financing to attract strategic enterprises from four major industries, namely life and health technology; artificial intelligence and data science; financial technology; and advanced manufacturing and new-energy technology.
The Hong Kong Special Administrative Region government has also stepped up funding support for enterprises that are looking to establish a foothold in Hong Kong. A myriad of funding schemes and incentives cover infrastructure development, promoting research and development (R&D), training and retaining talent and facilitating re-industrialization. Some of the latest initiatives are:
Co-Investment Fund
A US$3.8 billion Co-Investment Fund was set up in late 2022 for attracting enterprises to set up operations in Hong Kong and co-investing in their businesses.
Research, Academic and Industry Sectors One-plus Scheme (RAISe+)
This is a US$1.3 billion funding scheme launched in October 2023 to promote transformation of R&D outcomes and facilitate collaboration among industries, academic and research sectors. A maximum of US$12.8 million funding support will be provided to each approved project.
New Industrialization Funding Scheme
The scheme aims to subsidise manufacturers to set up new smart production lines in Hong Kong. A maximum of $1.9 million funding support will be provided to each approved project on a one (government), to two (company) matching basis.
Research Talent Hub
The hub subsidizes R&D companies for engagement of talent to assist in R&D projects or conduct R&D work. Monthly allowances will be provided to an eligible company/project for engagement of up to four researchers at any one time for a maximum of 36 months.
One-Stop Window for Strategic Enterprises
OASES serves as a one-stop window to assist enterprises throughout the whole set-up process from planning, setting up and launching, to further expansion. Key services include:
Guidance in strategic implementation and evaluation of business decisions
Connection with critical stakeholders
Market insights for specific industries
Setting up and business support (e.g. licensing, visa, intellectual property protection, tax, government funding schemes, talent schemes, business regulations, marketing and public relations, etc.)
Relocation facilitation (e.g. bank account opening, housing, health care, education and networking, etc.)
Aftercare services for continuous expansion of business
The Dedicated Team for Attracting Businesses and Talent in Jakarta is happy to support companies in Indonesia. Meanwhile, Invest Hong Kong (investhk.gov.hk) continues to provide a one-stop service to assist all companies to set up or expand their businesses in Hong Kong.
Please get in touch with OASES Hong Kong office or contact our Dedicated Team head in Jakarta to explore further on how we could assist with your business expansion plan.
Hillwan Yogi Brahmanda
Head of Business and Talent Attraction
Tel : +62 811 912 0220
Email : hillwan_brahmanda@hketojakarta.gov.hk
OASES Hong Kong office
Tel : +852 3107 1484 / +852 3755 2746
Email : enq@oases.gov.hk / oases.gov.hk
This article is published in collaboration with Office for Attracting Strategic Enterprises (OASES)
