InvestHK celebrates 25 years of spotlighting Hong Kong on the global business stage
As the investment promotion agency marks its anniversary, its people reflect on record-breaking numbers, flagship events and other successes
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InvestHK marks 25 years as Hong Kong’s ambassadors to the global business community
For its 25th anniversary, InvestHK has numerous achievements to celebrate in its role as the government agency responsible for attracting foreign direct investment (FDI) to Hong Kong and promoting the city as a hub for business.
Last year, InvestHK reached record-breaking numbers for FDI, by helping 539 mainland Chinese and overseas-based companies establish or expand their operations in Hong Kong – a 41 per cent year-on-year increase. These companies brought a total investment of HK$67.7 billion (US$8.6 billion) into the local economy, 10 per cent higher than 2023, plus an estimated 6,864 new job opportunities.
The agency’s success can be attributed to its ability to follow major shifts in the global economy and establish dedicated units to serve enterprises in fast-developing sectors such as fintech, robotics, autonomous vehicles, gaming platforms, creative industries and start-ups within the digital space.
“We have stayed true to the mission, just in new and different ways,” says Alpha Lau, InvestHK’s director-general of investment promotion. “I am very proud of how far we have come, and the numbers really speak for themselves.”
Over the years, more than 7,700 projects have been successfully completed in Hong Kong, which includes getting over 130 companies listed on the Hong Kong stock exchange. In the process, around 93,000 new jobs were created and a total of about HK$420 billion in FDI has been generated.
When it comes to working with clients, the InvestHK team has found that the keys to success are building strong relationships, supporting innovation and spearheading events. The agency organises the popular Hong Kong FinTech Week and StartmeupHK Festival, which will both mark their 10-year anniversaries in November.
“It is about doing something that no one else has done before,” says Arnold Lau, InvestHK’s associate director-general of investment promotion, adding that there are now nearly 4,700 start-ups in Hong Kong, with 13 per cent of them active in fintech. “It is a matter of finding the people who are innovators, bringing them here and then helping them take their innovations to a broader market.”
That go-ahead approach has also been evident in the actions taken to attract more family offices to Hong Kong – there are already over 2,700 operating locally – and help high-profile businesses ranging from Academy Award-winning visual effects studios to Michelin-star restaurants and international fashion brands get set up in the city.
“Creativity is needed in every industry,” says Sindy Wong, head of tourism and hospitality for InvestHK, who has been with the agency since 2004. “So we are making sure that Hong Kong is a hub for that too.”
There is also plenty of positive sentiment about the new opportunities arising from China’s ambitious Belt and Road Initiative, with Hong Kong acting as a “superconnector” between China and the rest of the world. The city is positioned to serve as an effective springboard for companies specialising in everything from infrastructure and manufacturing to technology, fundraising or legal and professional services.
“We talk about making change, having an impact and leaving a legacy,” says Lam King-chung, InvestHK’s deputy head of international markets, consulates and chambers. “Here, we want to make the people who are willing fully able [to carry out their plans].”
To that end, InvestHK has opened new representative offices in Turkey and Egypt in recent months, bringing the total to 35 worldwide. This global network of offices is aimed at providing ready access to Hong Kong’s unique business ecosystem and opportunities to as many investors as possible.
“A lot of trust has been built up with our clients and stakeholders,” says Loretta Lee, head of China markets for InvestHK, who is a 24-year veteran with the agency. “It is always important to invest time in those relationships.”
Recognising that, Alpha Lau is quick to pay tribute to the many individuals who initially laid the foundation for InvestHK, as well as those who followed to help make it the dynamic, agile and forward-thinking organisation it is today.
“I want to thank every client and partner we have worked with, and all those who have been our colleagues over the years,” she says. “I also think the past 25 years are proof that Hong Kong is the best investment you can make.”
Check out the video to hear more about what InvestHK has achieved in Hong Kong over the past 25 years, directly from the people who work there.