March 27, 2023
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Policy address: 30 billion co-investment fund plus 10 billion to engage in innovation and technology to “grab companies”

The Chief Executive, Mr. Lee Ka-chiu, announced his first policy address during his term of office today, in which he mentioned that he would implement a series of policies to enhance Hong Kong’s competitiveness and help “snatch up companies”.


The government will set up the “Introduction of Key Enterprises Office” within this year, which will be responsible for introducing high-potential and representative key industries from around the world for strategic industries such as life and health technology, artificial intelligence and data science, financial technology, advanced manufacturing and new energy technology. enterprise.


The work of the Office of Introducing Key Enterprises includes formulating a list of target enterprises, instructing the “Investment and Talent Attraction Teams” to proactively contact and negotiate with these enterprises; formulate targeted and attractive special supporting measures including land, taxation and finance, etc. , and provide tailor-made business settlement plans; and provide one-stop supporting services for the personnel of these enterprises, such as visa application, children’s education arrangements, etc.


The government will also set up a 10 billion “Industry-University-Research 1+ Program”, starting from next year in matching funding to no less than 100 university R&D teams with potential to become start-ups, and to complete their projects in two phases: the first phase is The scientific research achievements will be successfully transformed and implemented within three years, and the second phase is to commercialize the scientific research results within the next two years. The goal is to stimulate industry-university-research collaboration and further promote the transformation of scientific research achievements and industrial development from one to N;


In addition, the government will spend 30 billion yuan to set up a “co-investment fund”, which will consider participating in co-investment based on the potential of individual projects of enterprises to drive the development of local industries. And set up the “Introduction of Key Enterprises Advisory Committee”, which is composed of relevant industry and community leaders, and will provide advice on the overall strategy to the Financial Secretary.



Data and picture sources:government news network

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Ewen Eagle

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