Hong Kong: Business fund upgraded

The Trade & Industry Department today announced enhancement measures for the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) in support of enterprises’ business development to be rolled out in three phases from tomorrow.

The BUD Fund’s geographical scope will be broadened progressively from 20 economies with which Hong Kong has signed Free Trade Agreements to 37 economies with which Hong Kong has signed Free Trade Agreements and/or Investment Promotion & Protection Agreements.

In the first phase starting tomorrow, the BUD Fund will additionally cover Japan and Korea, and the cumulative funding ceiling per enterprise will be increased from $4 million to $6 million.

The department noted that the enhancements will further help enterprises develop more diversified markets by utilising the better investment protection under the Investment Promotion & Protection Agreements. More funding support will also be provided for enterprises to capture the business opportunities brought about by the country’s dual circulation development strategy.

Call the fund's secretariat at 2788 6088 for enquiries.



This story has been published on: 2021-07-29. To contact the author, please use the contact details within the article.



Discover 7thSpace