Govt, enterprises sign pact

October 4, 2023

Business partners:

Chief Executive John Lee (back row, centre) and Financial Secretary Paul Chan (back row, third left) witness OASES signing a partnership agreement with the first batch of strategic enterprises.

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Chief Executive John Lee:

A year ago, I announced the establishment of OASES (Office for Attracting Strategic Enterprises) in my first Policy Address. I gave this new team one of the most important missions of Hong Kong: to bring home high-profile, high-potential enterprises in strategic industries from around the world. 

It is tremendously encouraging that a year later, some 30 strategic enterprises have joined us here - primed to set up or expand their businesses, their future, in Hong Kong.

We want to achieve mutual growth with our partners, as we pursue high-quality development together.

Yes, Hong Kong welcomes you all with open arms. You come from all over the world, and you bring with you innovation, technology and expertise in a great variety of sectors and areas, from life science, biotech, fintech to advanced manufacturing, AI (artificial intelligence), data science and more.

I am pleased to note that over the next few years, your companies will invest over HK$30 billion, here in Hong Kong, with plans to create some 10,000 jobs here. 

These smart, strategic companies - and the many more that follow in the coming months and years - will help spur Hong Kong's rise as an innovation and technology centre, a position backed by the National 14th Five-Year Plan.

The Office for Attracting Strategic Enterprises (OASES) launched the OASES Partnership today.

At the launch ceremony witnessed by Chief Executive John Lee and Financial Secretary Paul Chan, OASES signed an agreement with the first batch of strategic enterprises setting up or expanding their businesses in Hong Kong. They will jointly promote the development of Hong Kong's innovation and technology (I&T) ecosystem.

Twenty enterprises from the Mainland and overseas became the first batch of strategic enterprise partners today.

They come from such strategic industries as life and health technology, artificial intelligence and data science, financial technology as well as advanced manufacturing and new-energy technology.

Some of these enterprises will settle in Hong Kong shortly, while some have settled and are ready to expand their businesses in the city. Most of them will set up research and development centres or regional business headquarters in Hong Kong.

These strategic enterprise partners, together with the Hong Kong Special Administrative Region Government, will press ahead with the development of the I&T ecosystem of the city.

OASES will provide one-stop services to these enterprises and follow up on their development situation in Hong Kong and their specific needs.

In the coming few years, the strategic enterprises will invest a total of more than $30 billion in Hong Kong and create about 10,000 jobs, the majority of which are scientific research and management positions.

Speaking at the ceremony, Mr Lee said that OASES - which was announced to be established in his inaugural Policy Address - is dedicated to attracting representative and high-potential strategic enterprises from around the globe to Hong Kong.

The Chief Executive was also encouraged to see this first batch of 20 enterprises becoming strategic enterprise partners of the Hong Kong SAR Government.

He noted that the Hong Kong SAR Government will work with them to jointly promote high-quality development in Hong Kong and support the city in realising its position to become an international I&T centre under the National 14th Five-Year Plan.

Also addressing the ceremony, the Financial Secretary supplemented that with its unique strengths under "one country, two systems", Hong Kong is the best springboard and platform for strategic enterprises to tap into the Mainland and international markets, especially in the Asian region.

Mr Chan said as an international financial centre and with the implementation of the common law, the rule of law and free flow of capital, talent, goods and information, Hong Kong also forms a leading fundraising platform and a vibrant finance ecosystem, which facilitates the enterprises' financing needs at different stages of development, and accelerates their development.

He added that the Hong Kong SAR Government has been pressing ahead with the development of the Northern Metropolis. With policy support from the central government, strategic enterprises can be provided with a better development platform in Hong Kong.

Apart from bringing investment and employment, these enterprises will assist in gathering upstream, midstream and downstream enterprises in Hong Kong and therefore promote vibrant development of the I&T ecosystem.

More than 200 representatives from strategic enterprises, local and foreign chambers of commerce, research institutions, government bureaus and departments and public organisations attended the launch ceremony.

The Chief Executive announced in his Policy Address last year to establish OASES, led by the Financial Secretary and tasked with attracting strategic enterprises from around the world.

Since its establishment late last year, OASES has met representatives from over 200 enterprises. The figure is expected to increase to nearly 300 enterprises by the end of this year.