A recent press release by InvestHK announced that a London-based architecture and interior design firm has opened its global office in Hong Kong.
The aim is to realise opportunities in the growing Asia-Pacific and the Guangdong-Hong Kong-Macao Greater Bay Area markets.
While the company was established only six years ago with its headquarters in London, it has quickly gained a reputation as a “young, up-and-coming” leader with an emphasis on maximising users’ experiences in its design philosophy, according to its Founder.
The Greater Bay Area has hosted the company which has been engaged in design projects there. Hence, having a base in Hong Kong with its international recognition offers a lot of convenience and efficiency to operations.
The Greater Bay Area has also seen the company provide design work on several significant projects over the past two years.
Thus, in order to provide better services to existing clients and reach out new ones in the region, an office has been set up in Hong Kong to build a local team, oversee current projects and maintain close relationships with local clients.
Hong Kong’s open-for-business attitude, financial flexibility with overseas banks, open-mindedness as well as the efficiency and speed at which the city operates to make it an easy and efficient place to set up a company.
The tax savings offered and its welcoming presence is also appealing for Western companies trying to establish themselves out East.
The Associate Director-General of Investment Promotion, Dr Jimmy Chiang stated that the set-up of this new global office in Hong Kong is welcomed.
While the Greater Bay Area will boost the overall business and economic integration of its cities, Hong Kong is already recognised as its international hub. The sooner companies decide to build a base in Hong Kong, the more first-mover advantages they will enjoy vis-à-vis their competitors as they secure a foothold in this massive lucrative market.
Having a local office will benefit the area significantly especially as the need for tech talent is on the rise across h=the globe and particularly in Asia.
According to an earlier report by OpenGov Asia, The Hong Kong 2019-2020 Budget is determined to ensure that the standards of living increase and that the region’s population is safeguarded from the looming prospect of economic hardship.
Under one of its objectives, the Government hopes to train more tech talent so as to enable the region to grow as a digital and innovation hub.
The region’s Financial Minister had said that technology enterprises and start-ups, in particular, are an integral component of the I&T ecosystem. They play an important role in facilitating commercialisation and application of R&D results as well as developing innovative ideas.
Thus, Hong Kong is in an excellent position to promote I&T development, and are presented with unprecedented opportunities arising from the Greater Bay Area development, which offers more cooperation opportunities for local I&T enterprises as well as capabilities in commercialising R&D results and advanced manufacturing.
With the launch of projects similar to those by the aforementioned architecture and interior design firm, the Government is in a unique position to promote the diversification of technology application for the GBA.
Moreover, in enabling more overseas companies to establish spaces in Hong Kong, the Government is encouraging technological collaboration, interaction among industries and productisation of scientific and technological achievements, thereby facilitating the development of the Greater Bay Area into an international I&T hub.