Uber eyes headquarters move to Hong Kong – provided city first changes regulations to legalise service, source says
- ‘Industries like Uber are beneficial to Hong Kong’s economic growth, but the existing regulations are outdated’, tech sector figure argues
- But amid strong pushback from taxi industry, government has so far remained firm in cracking down on the illicit ride-hailing service
The US-based firm is weighing the potential move as it looks to follow through on plans to relocate its Asia-Pacific headquarters from Singapore in the next 12 months after taking a beating amid the Covid-19 pandemic, a reliable source told the Post.
The source said a move to Hong Kong would serve as a vote of confidence in the city’s political and economic future as it attempts to recover from the double blow of protest-driven social unrest and the subsequent Covid-19 outbreak, which saw many businesses shut down or downsize.
“The move would be a substantial investment for Uber and produce a positive synergistic effect on the city’s economy amid the coronavirus-ravaged downturn,” the source said.
“It would also boost investor confidence in Hong Kong. But to make it possible, the government needs to provide a business-friendly environment where Uber could see the future – a regulatory regime for Uber’s ride-hailing business.”