Twenty-Two Companies Join Hong Kong's OASES Investment Attraction Programme
Sixth cohort of strategic enterprises brings total partners to over 120, including Pfizer, Amgen, DiDi and AutoFlight
Quick Look
- Twenty-two strategic enterprises have signed agreements with Hong Kong's Office for Attracting Strategic Enterprises (OASES), marking the sixth cohort of the government's flagship investment attraction initiative since its 2022 launch.
- The latest group brings the total number of strategic partners to more than 120, includes major names in pharmaceuticals and biotechnology such as Pfizer and Amgen, as well as companies in transport and cloud computing sectors.
AI-generated summary
Why It Matters
The OASES programme is Hong Kong's flagship initiative to attract strategic enterprises, launched in 2022. The latest cohort represents the sixth group of companies to join, bringing the total number of strategic partners to over 120.
Twenty-two strategic enterprises have signed agreements with the Office for Attracting Strategic Enterprises (OASES) to open or expand operations in Hong Kong. The latest group marks the sixth cohort under the government's flagship investment attraction initiative since its launch in 2022, bringing the total number of strategic partners to more than 120.
The South China Morning Post looks at who the latest companies are and the anticipated economic impact.
1. Who are the corporations?
Pfizer, a leading global research-based pharmaceutical and biotechnology company, is among the biggest names in the latest cohort. Amgen, one of the world's largest independent biotechnology firms, was founded in 1980 and is headquartered in California. Other companies in the life and health technology sector include German firm Boehringer Ingelheim, mainland China's Jiangsu Hengrui Pharmaceuticals and HAYA Therapeutics.
In the transport sector, the government has secured commitments from Chinese ride-hailing giant DiDi and Shanghai-based electric vertical take-off and landing (eVTOL) manufacturer AutoFlight.
Among cloud computing firms establishing a presence in the city is LightSpeed Studios, Tencent Games' global development arm, which uses Tencent Cloud's technology stack for development, operations and global scaling.
Open Questions
- What specific incentives is OASES offering these companies?
- What is the expected job creation impact?
- What are the timelines for these companies to establish operations?
