Invest Hong Kong (InvestHK), the Chinese city's unit promoting foreign direct investment, held its first roadshow in Thailand yesterday, with the aim of encouraging more Thai companies, including startups, to invest.
Alpha Lau, director-general of InvestHK, expects Thai entrepreneurs to show an interest in embarking on their businesses in Hong Kong and mainland China.
"We chose Thailand as the first country in Asean, believing Thai companies have high potential to invest in many business sectors," she said during the one-day roadshow.
Vietnam is the next country where the investment roadshow is set to be held.
Hong Kong authorities aim to have Thai business people invest in retail and wholesale, logistics, creative economy-related businesses, especially movies, and financial technology.
The sectors are the focus of a plan to boost investment in Hong Kong, but the officials also want to promote investment in smart electronics and semiconductors.
According to InvestHK, the value of foreign direct investment in Hong Kong stood at US$18 billion in 2022.
In 2024, the economy of Hong Kong is expected to increase by 2.5-3.5% while the Chinese economy is projected to grow by 5%.
Last year, 412 foreign companies invested in a variety of businesses in Hong Kong, including retail, spa business, and food and beverages, said Parson Lam, director of the Hong Kong Economic and Trade Office in Bangkok.
"InvestHK hopes the number of Thai companies investing in Hong Kong will increase," he said.
Last year, InvestHK set up the Office for Attracting Strategic Enterprises (OASES) to better serve and support foreign companies' investment projects in Hong Kong.
Following the establishment, 30 companies from many countries decided to expand their businesses in Hong Kong.
Thai investors in Hong Kong include supermarket operator Bic C Supercenter Plc. It teamed up with a local business partner to open 29 supermarkets in the city with a budget of 137 billion baht.
It plans to increase the number to 99 stores within 3 years.
According to InvestHK, the trade value between Thailand and Hong Kong is around $12-13 billion a year.
Hong Kong business people spent a total of $8.8 billion investing in Thailand in 2022.