Global tech giant opens R&D facility in Hong Kong
ASM Pacific Technology (ASMPT), one of the top 100 global tech firms, recently set up a new 300,000 ft2 R&D centre in Tsing Yi, Hong Kong, which will be the largest centre of its ten R&D centres around the world.
With opportunities brought by the National 13th Five-Year Plan and the Guangdong-Hong Kong-Macao Greater Bay Area development, Hong Kong is seeking to capitalise on its advantages in R&D capabilities, technology infrastructure, legal system and intellectual property to act as a strategic bridge for innovative companies looking to access the Mainland market.
The government has committed over $100 billion to promote innovation and technology (I&T) development, including developing I&T infrastructure, promoting R&D, nurturing local talent and attracting international expertise, supporting technology enterprises and promoting re-industrialisation.
Hong Kong is fast becoming a start-up hub for technology firms. Government initiatives include targeted funding programmes (a dedicated venture fund programme to attract venture capital investment), tax relief to encourage R&D investment, research clusters in key technology area, and collaboration with the neighbouring Shenzhen Municipal People’s Government to develop the Hong Kong-Shenzhen Innovation and Technology Park.
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