InvestHK - U.S. West (SF)’s Post

Launch your technology into Asia via Hong Kong. Hong Kong presents a distinctive market landscape, characterized by the highest population density of any city globally and a challenging property market. The economy is predominantly driven by the service sector, with finance accounting for over 20 percent of the city’s GDP. These unique characteristics create significant opportunities for companies with innovative solutions. As Hong Kong seeks to modernize across various sectors, the demand for cutting-edge technologies is at an all-time high. Here are two sectors in Hong Kong with particularly strong potential: • PropTech and construction: High population density in a hot and humid climate is a challenge. Over 30 per cent of Hong Kong’s electricity goes towards air conditioning, and many people live in cramped living conditions. Property developers are now actively looking for and investing in companies that can help alleviate these issues. If properties are to become sustainable, they need to reduce electricity consumption and become smarter, and with high costs of construction anything that can make the construction process faster and smoother is of high interest. • FinTech: Hong Kong is one of the most important financial centres in the world and has served as the meeting point for regional financial interests for many decades. The industry, however, has remained rather conservative, and to not lag regional competitors they are now fully embracing technology. Spurred on by initiatives to become a world leader in Web3, green finance and RegTech, the entire industry is now seeking out new solutions that can give them an edge both locally and regionally. Whether you cater to international banks, family offices or virtual insurers, there is likely a demand for your product in Hong Kong. Want to learn more about how Hong Kong is the perfect launch pad for further expansion into Asia? Reach out to Johan Thurée and we will show you how your solutions can find a market here in Hong Kong. #FocusAsia #BusinessSweden #HongKong #SwedishCompanies #Investment #Opportunities

Unlocking Hong Kong's Business Potential: How Government Creativity can accelerate the City's Growth and help business.   Hong Kong's Chief Executive, John Lee stressed city's creativity in support of our future; this includes all of us. Reflecting on the Business and Services Promotion Unit (BSPU) of 1996/1997, the visionary Helping Business Programme identified and solved challenges faced by businesses. This was recognition that government services must evolve via a more pro-active approach and where creativity did not exist it was engaged from outside.   Of course Fire Services and Police Force (services) may need less creativity; however any government department should still prioritise “service” and help. This is paramount because enforcing or executing procedures or regulations rigidly is often unhelpful. If we shift our mindset towards service, help and creativity we get enhanced responsiveness and better problem-solving in all government structures.   Hong Kong's reputation as a business hub is well known however inefficiencies hinder growth so Departments need the resources and flexibility to address them fast and a “complaint” or “response” based approach to change is insufficient. Streamlining initiatives, like any application process, removes obstacles to business development and this writer just had an excellent interaction with the Transport Department : responsive, polite and efficient at problem solving; a true service based approach.   Broader creative change adds to Hong Kong's appeal as a business destination and collaboration between departments and the public via a proactive stance towards innovation is crucial. By adding a “services promotion unit” to initiatives like InvestHK, the government could modernise and unlock the city's full potential; in 1996/1997 alone the BSPU claimed to have worked on 15 studies resulting in 70 recommendations!   Multiple initiatives are underscored by past successes that I have seen including a team I was on that streamlined an ancient (and slow) food licensing processes. The BSPU study reduced complexity and delay for businesses in the food and beverage sector; other areas of change truly enhanced Hong Kong's business environment.   Creativity is a pressing need right now including government willingness to be ‘creative’ to support business growth; by fostering a service-oriented mindset, streamlining processes and embracing change; government can help unlock the city's full potential as a vibrant business destination and see it thrive in the modern era.   How about another Business and Services Promotion Unit or Helping Business Programme?   https://lnkd.in/ghztP-2K   #HongKongGovernment #BusinessInnovationHK #CreativityInGovernment #BusinessDevelopment #HongKongEconomy #GovernmentEfficiency #ServiceOrientedApproach #BusinessModernization #InnovationInitiatives #HongKongBusinessEnvironment

Which city is better: Hong Kong, or Singapore? Last week, I visited Hong Kong and saw many friends, clients, and former colleagues. Having lived in several cities, and most recently in Hong Kong and now Singapore, I'm often asked the same question: Which city is better—Singapore or Hong Kong? To be honest, I told my friends in Hong Kong that I missed it and preferred it over Singapore to keep them happy. However, when I'm in Singapore and the locals ask, I say Singapore is much better than Hong Kong. Please don't judge me. I wasn't lying; I was just making them feel good about the place they were living. So, which place is truly the best: Hong Kong or Singapore? Before I share my perspective, consider this age old question: Is the glass half-full or half-empty? We're often encouraged to be optimistic and see the glass as half-full, while a pessimist might say it's half-empty. In my view, it depends on the starting point. For example, If a full glass has water poured out, we can say it's half-empty. If an empty glass has water added, then it's half-full. So, it all depends on the starting point. With that being said, whether Singapore or Hong Kong is better might depend on where I started or where I came from. I find both Hong Kong & Singapore truly amazing. I'm thankful for my current situation and value the facilities and amenities that any city provides! So, whether the glass is half-full or half-empty really depends on where it started. And is your glass half-full or half-empty? My Glass is always FULL! Do let me know your thoughts! Credits: Three Feet From Gold! Subscribe to my newsletter to ensure you don't miss out on actionable insights on investing and wealth. Subscribe here: https://lnkd.in/gRKSi6Jn

🌏 The Current Business Landscape in Hong Kong 🌏 Hong Kong stands strong as a resilient business hub, embracing global shifts while leveraging its unique strengths. Here's a closer look at the factors shaping the business scene in Hong Kong today: 1) Resilient Economy: Despite recent challenges, Hong Kong's economy is bouncing back, with key sectors like finance, logistics, and tourism showing signs of recovery and renewed confidence. 2) Innovation and Tech Growth: Emerging as a leading tech hub, Hong Kong is witnessing a surge in startups and innovation, with a focus on fintech and biotech, attracting global talent and investments. 3) Global Connectivity: Positioned strategically as an Asia gateway, Hong Kong offers seamless access to markets like Mainland China due to its excellent infrastructure and transport links. 4) Focus on Sustainability: With a growing emphasis on green practices, initiatives like the Hong Kong Green Building Council are driving eco-friendly developments, aligning with global standards and consumer expectations. 5) Talent Development: Collaboration between businesses and educational institutions is enhancing the local workforce's capabilities to meet the demands of a rapidly evolving market. 6) E-commerce Boom: Accelerated by the pandemic, digital commerce is on the rise in Hong Kong, with businesses increasingly adopting e-commerce strategies and optimizing logistics and supply chain management. 7) Cultural Diversity: Hong Kong's blend of Eastern and Western cultures fuels creativity and innovation, attracting international companies and talent, enriching the business landscape. 8) Regulatory Changes: Staying informed about evolving regulations is crucial for businesses to adapt to changing landscapes and ensure compliance. In the face of these transformations, Hong Kong presents vast opportunities for growth and collaboration.

How to successfully set up a business in Hong Kong and the Greater Bay Area Comprising the two Special Administrative Regions of Hong Kong and Macao, and the nine municipalities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province, the Greater Bay Area (GBA) is a thriving consumer market with over 86 million people and GDP per capita of about USD 22,000. GBA aims to become an international innovation and technology hub with world-class infrastructural connectivity and globally competitive industrial system. Leaning towards ecological conservation, the region also aims to develop a quality living circle for living, working and travelling. Check out this infographic article from the South China Morning Post on how companies may leverage Hong Kong's pro-business policies to unlock the full business potential that GBA offers. Invest Hong Kong InvestHK Singapore

Hong Kong: The Ticket From Big To Bigger For businesses looking towards the burgeoning Asian market, Hong Kong is the place to go. With strategic connections to the Greater Bay Area and Mainland China, a vibrant and talented I&T ecosystem, a robust investment community and first-rate innofacturing facilities, the city has everything it needs to propel tech-driven companies to greater success.   See how four big international names from various industries are continuing to find and maximise growth opportunities in Hong Kong and neighbouring markets, as featured in the InnoPark x Tatler Asia series: Vobile - Bernard Wang Tapping HK’s regional potential to reinforce leadership in the digital copyright space   CATALO Natural Health Foods Ltd. - Calvin Chan Sustaining consumer health through competitive production synergies between HK and US   Avnet - Arthur Chung Accessing microelectronics talent and advanced manufacturing in HK to drive GBA and APAC growth   TOPPAN Edge (Hong Kong) Limited – Thomas Wan Top-notch information and data management serving HK government and top corporations   Hong Kong is proud to be a part of many innovators’ success stories. Apart from business-friendly government schemes and tax incentives, InnoPark’s world-class infrastructure and networks are drawing more and more visionary entrepreneurs from around the world to accelerate their tech-for-good dreams in—and from—Hong Kong.   Read all about it: stp.hk/3SChF2c   #HKSTP #PropellingSuccess #InnoPark #InnofacturingTomorrow #MadeInHongKong

Singapore, a small island nation known for its remarkable economic transformation, has long been considered a beacon of progress and prosperity in Southeast Asia. Over the past few decades, the city-state has achieved numerous milestones across various sectors, leading many to wonder if Singapore has reached its peak in terms of development and global influence. Economic Peak: Singapore's economy has consistently ranked among the most competitive in the world. Its strategic location, pro-business policies, and highly skilled workforce have attracted multinational corporations and fostered a thriving financial sector. However, recent years have seen a moderation in economic growth rates, leading to speculation about whether Singapore has reached its economic zenith. The nation faces challenges such as an aging population, increasing global competition, and the need to transition to a more innovation-driven economy. While these factors suggest Singapore may have peaked economically, the government's proactive approach to addressing these issues through initiatives like the Smart Nation program and investments in emerging technologies indicates a commitment to maintaining growth and relevance. Infrastructure and Urban Development: Singapore's skyline and infrastructure are often cited as examples of modern urban planning. The city-state boasts world-class transportation systems, innovative green spaces, and architectural marvels. With limited land area, some argue that Singapore has maximized its physical development potential. However, ongoing projects like the Greater Southern Waterfront and Changi Airport's expansion demonstrate that there's still room for growth. The challenge lies in balancing further development with sustainability and preserving the nation's heritage. Global Influence: Singapore's diplomatic influence and soft power have grown significantly over the years. It plays a crucial role in ASEAN and has positioned itself as a neutral mediator in regional affairs. The question of whether Singapore has reached its peak in global influence is complex. While larger nations may overshadow Singapore in terms of sheer geopolitical weight, the city-state continues to punch above its weight in areas such as economic diplomacy and thought leadership on issues like smart city development and water management. Education and Innovation: Singapore's education system is renowned globally, consistently producing high-achieving students. Its universities rank among the best in Asia. In terms of innovation, Singapore has made significant strides, investing heavily in research and development and fostering a startup ecosystem. While it may be challenging to surpass current educational standards, there's potential for growth in innovation and research output. The government's focus on developing new economic pillars in areas like biotechnology and artificial intelligence suggests that Singapore is still climbing the innovation .

💰📈 #Singapore is emerging as a strategic partner for #Shanghai amidst an #economic slowdown, opening up new avenues for foreign investments. As the dynamic city of Shanghai opens doors with enticing #investment prospects, Singapore #SMEs are presented with an exciting gateway to fuel #growth and foster #collaboration. In a recent investment promotion event in Singapore on 29 Jan, Shanghai officials showcased the city's appeal to over 140 attendees, including representatives from Singapore businesses and professional bodies. Facing a broader economic slowdown in #China, Shanghai actively seeks foreign #partnerships and invites Singapore entities to invest in urban renewal projects. The Chinese city, falling short of its economic growth target for two consecutive years, is eager for fresh investments to stimulate its #economy. Over 4,000 Singaporean companies have already made their mark in Shanghai, with investments surpassing US$6 billion in the last three years alone. This mutually beneficial relationship underscores the landscape for sustainable #business growth. Keen to explore the possibilities and amplify your #business potential in China? 🐼 Book a complimentary 1-to-1 business advisory session here: https://lnkd.in/g_5tassX and let SME Centre@SMF (Singapore Manufacturing Federation) guide you with strategic advice as you move toward international expansion. 🌐🚀 #sme #smesupport #support #businessgrowth #sgbusiness #businessadvisory #consulting #businessstrategy #smefunding #Asia #Chinaeconomy #BusinessinChina #transformation #businessexpansion #businesstransformation #foreigninvestment #internationalisation #internationalization #goglobal #newmarkets

My latest: Exploring China's Greater Bay Area (GBA) initiative, a transformative project aims to rival global economic and technological hubs like Silicon Valley and other bay areas like San Francisco, Tokyo, and New York. 💡 Covering 56,000 square kilometers and home to 70 million people, the GBA's ambition extends beyond economic growth to technological innovation, integrating the strengths of regions like Shenzhen, Hong Kong, and Macau. Its economic output surpasses 13 trillion RMB ($1.8 trillion) by 2022, exceeding developed countries like South Korea. 💡 The initiative strategically leverages Hong Kong's international status and the Pearl River Delta's innovation capabilities. With a focus on hard sciences, AI, biomedical technology, aerospace, and more, special zones within the GBA are incubating cutting-edge developments. 💡 Highlighting the significance of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone and Guangzhou's Nansha Qingsheng District, the article delves into how these areas attract global tech players and foster military-civil fusion, underscoring the initiative's broader national strategy. 💡In a world where regional schemes and provincial initiatives often go unnoticed, understanding the GBA provides crucial insights into China's execution of its plans and its global role in technology and innovation.

Will #Singapore become the new #financialhub and #innovation centre? Probably, but there are still a lot of challenges such as high price and costs of living as well as promoting #entrepreneurship with more government support.