Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
More than ten international enterprises, including pharmaceutical and logistics firms, are in active discussions with Hong Kong authorities to establish operations in the city’s ambitious Northern Metropolis megaproject. InvestHK Director-General Alpha Lau Hai-suen revealed on Thursday, on the sidelines of the China International Import Expo in Shanghai, that these firms include companies from South Korea, Europe, and the Middle East, with some having mainland Chinese capital backgrounds. The initiative underscores Hong Kong’s strategy to attract diverse industries and bolster its economic growth engine in the northern New Territories.
Diverse Sector Interest
Lau noted the diverse sectors represented by the interested parties, which span large-scale pharmaceutical enterprises, the automotive supply chain, and even companies involved in satellite technology. This breadth reflects Hong Kong’s efforts to diversify its economic base beyond traditional finance and trade.
The Northern Metropolis Vision
The Northern Metropolis megaproject is a significant undertaking, designed to transform 30,000 hectares (74,132 acres) of land in the northern New Territories into a dual-purpose economic growth engine and housing hub. This development aims to provide a substantial boost to the city’s overall capacity and infrastructure.
Addressing initial concerns from some enterprises regarding Hong Kong’s historically tight land supply, Lau emphasized that the Northern Metropolis offers highly favorable conditions for industrial development. She positioned the project as a strategic solution to accommodate large-scale business expansion.
Gateway to Mainland China
Furthermore, Lau highlighted Hong Kong’s unique position to assist international enterprises in their “go global” strategies, particularly in facilitating their entry into the vast mainland Chinese market. This role as a gateway remains a core appeal for foreign investment.
Outlook
The strong international interest in the Northern Metropolis signals confidence in Hong Kong’s long-term economic development plans and its continued role as a crucial link between global markets and mainland China. The project is poised to reshape the city’s economic landscape and attract significant foreign direct investment.
