ASEAN Working Luncheon with Mr Stephen Phillips Director-General of Investment Promotion, Invest Hong Kong
Wednesday, 29 September 2021 - The ASEAN Heads of Mission in Hong Kong had a working lunch, hosted by Mr Raly Tejada, Consul-General of the Philippines, with Mr Stephen Phillips, Director-General of Investment Promotion of Invest Hong Kong (InvestHK). The ASEAN CGs were briefed on Hong Kong’s latest policies to attract FDI, and they had fruitful discussions on ASEAN Hong Kong investment cooperation opportunities.
ASEAN’s cumulative FDI in Hong Kong totaled US$71.9 billion as of end‑2019, ranking 7th among all FDI sources. As of end‑2019, ASEAN ranked fifth among Hong Kong’s destinations of outward direct investment, with a stock of US$68.7 billion. In 2019, Hong Kong was ASEAN’s 4th largest source of FDI (US$11.1 billion). ASEAN was Hong Kong’s second largest trading partner and export market after Mainland China in 2020.
According to the Hong Kong Census and Statistics Department, there were 640 ASEAN companies in Hong Kong, including from Malaysia as of June 2020, including 61 regional headquarters, 136 regional offices and 443 local offices. They accounted for about 7.1% of the total number of foreign companies in Hong Kong.