Director-General of Investment Promotion Alpha Lau Hai-suen holds the 2023 annual report of Invest Hong Kong unveiled on Feb 2, 2024. (PHOTO / HKSAR GOVT)

HONG KONG – The number of Chinese mainland and overseas companies that received assistance from the government’s investment wing to set up or expand their business in Hong Kong reached 382 in 2023, representing about 27 percent year-on-year increase. 

The total investment brought to Hong Kong's economy thereby reached HK$61.6 billion and created more than 4,100 job opportunities during their first-year of operation, Invest Hong Kong said in a statement on Friday. 

READ MORE: HK govt outlines new capital investment entrant scheme

The 382 companies are from 45 economies, with the mainland continuing to lead with 136 companies, followed by the United Kingdom (48), the United States (34), Singapore (27), and Australia (13), according to InvestHK, which is the special administrative region government’s department responsible for foreign direct investment. 

As companies were able to resume their Asian strategies after the pandemic, Hong Kong is a natural first choice as a business base for many global multinationals and entrepreneurs alike.

Alpha Lau, Director-General, Investment Promotion, HKSAR Govt 

In terms of sectors, the portfolio covered a broad spectrum ranging from financial services and financial technology (90), followed by innovation and technology (82), business and professional services (45), tourism and hospitality (42) and consumer products (34), it added.

Delighted that the department's portfolio is regaining momentum after the city fully reopened following three years of COVID-enforced curbs, Director-General of Investment Promotion Alpha Lau Hai-suen said, "Notwithstanding global economic uncertainties, we believe our portfolio growth is gaining good momentum.”

As companies were able to resume their Asian strategies after the pandemic, Hong Kong is “a natural first choice as a business base” for many global multinationals and entrepreneurs alike, she said.

Lau stressed that InvestHK will continue to strive to promote the city's strengths in line with its targets.

ALSO READ: HKAC boosts innovative ties with Arab communities

“Financial services, innovation and technology and family offices are among some of the priority sectors, while geographically InvestHK will enhance our promotion drive in strategic markets, including the Middle East and the Association of Southeast Asian Nations economies, maximizing Hong Kong advantages as a 'super connector' and 'super value-adder'," she said.