HKTDC welcomes 2023-34 Budget and steps up promotional support

The Hong Kong Trade Development Council (HKTDC) welcomes the Hong Kong Special Administrative Region (HKSAR) 2023-24 Budget, which allocates additional funding of HK$550m over five years to the HKTDC. The funding is earmarked to help Hong Kong enterprises seize opportunities arising from the Belt and Road Initiative (BRI) and Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development, as well as tapping into emerging markets and stepping up global promotional efforts.

HKTDC chairman Dr Peter K N Lam said: “We are grateful for the support from the financial secretary. The HKTDC will fully support these measures to continue to strengthen Hong Kong’s role as an international business centre, tell the good stories of Hong Kong and capitalise on the city’s distinctive advantages of enjoying strong support from the Motherland, while being connected to the world.

The HKTDC said it would work closely with the HKSAR government to create new opportunities for industries and help them to diversify and grow on the road to recovery.

One of the upcoming Hong Kong brand prpmotions will be activated in Thailand in July with the ‘Think Business, Think Hong Kong’ campaign.

In addition, the HKTDC will set up a Hong Kong pavilion at major trade events in Mainland China, such as the China International Consumer Products Expo in Hainan in April and China International Import Expo in Shanghai in November. The HKTDC will also help local businesses explore emerging markets through business missions.

Dr Lam added that HKTDC’s flagship events with a promotional focus will include the Asian Financial Forum, the inaugural InnoEx, Asian Summit for Global Health as well as the Belt and Road Summit and Asian Logistics, Maritime and Aviation Conference. The HKTDC will also cover the green economy and sustainability in its SME support schemes.

Dr Lam concluded: “Reducing profits tax, extending the SME Financing Guarantee Scheme and enhancing the BUD Fund will help ease operational pressures of local businesses, especially SMEs. Driving development through innovation and technology and green transformation will help diversify our economy and support local businesses expand to new markets and seize new opportunities. The HKTDC will continue to play a pivotal role in Hong Kong’s road to recovery.”


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