LED display maker Hanover among 19 UK firms to set up in Hong Kong in first half: InvestHK
- The UK was the third-largest source of cross-border investment after mainland China and the US in the first half of the year, according to InvestHK
UK-based Hanover has picked Hong Kong to set up its Asia-Pacific headquarters, as the passenger information systems provider plans to use the city to market its LED products in the region.
Hanover is one of 19 UK-based companies that have either set up shop or expanded their operations in the city in the first half, according to InvestHK, which is responsible for attracting foreign direct investment (FDI).
Overall, 322 firms established their business or boosted their presence in the city in the first half, according to InvestHK. The UK was the third-largest source of cross-border investment after mainland China and the US.
Other UK companies that have expanded into Hong Kong are content production network Casual, engineering consultancy Cranborne Group, financial services firm GC Partners, and health products and supplements marketer Lify Wellness.
“We have received very positive feedback from our seminar series from 250 companies in the UK,” said Daisy Ip, head of investment promotion at InvestHK London. “Many of them were optimistic about the opportunities in Hong Kong and we are hopeful to achieve or exceed the achievement we had last year.”
In 2023, the UK was the second-largest FDI contributor to Hong Kong, with 48 companies from Europe’s second-largest economy establishing or boosting their presence in the city, according to InvestHK.
