Rapid advances in the growing low-altitude economy will further drive innovation and technology in Hong Kong, creating more businesses and employment in the city, according to an official of the Hong Kong SAR government department responsible for promoting foreign direct investment.

As drone technology continues to advance, its application is expanding across various sectors, including in logistics, aerial photography, and in safety inspections in construction sites.

Andy Wong Wai-cheuk, head of Innovation and Technology at InvestHK, believes that developing a low-altitude economy will bring significant benefits to the city's society and economy, including enhanced smart city management, and promoting innovation and technology development.

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“As an emerging industry, low-altitude economy-related business will create employment opportunities, such as for drone operators in the city,” he added.

Noting that InvestHK has been providing platforms for companies to explore business opportunities, Wong said Hong Kong’s rich talent pool and robust financial market will attract low-altitude economy firms to set up operations in the city.

The HKSAR government last year established a working group on developing low-altitude economy. The group has formulated a series of inter-departmental action plans and development strategies, and has announced the first batch of 38 low-altitude economy Regulatory Sandbox pilot projects.

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Kun Li's company is one of the participants in the projects. The company has set up a branch in Hong Kong, and joined forces with a construction firm as part of the project to use drones for safety inspections at construction sites.

Li said the SAR offers diverse scenarios for testing drone technology with its unique combination of rich natural landscapes and high-density urban development.

While there are still challenges for drone technology development in the city, Li said that Hong Kong’s status as a global financial hub can provide exceptional avenues for financing and a springboard for promoting his company's products to overseas markets.

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The 38 pilot projects – announced this March – cover various fields and application scenarios such as emergency and rescue, drone delivery, inspection and safety maintenance, surveillance and low-altitude infrastructure.

InvestHK will also hold a low-altitude economy seminar on June 27, which will include industry representatives and professionals who will share their insights and the most recent industry advancements.