Hong Kong is positioning itself as a key gateway for Philippine entrepreneurs and family-owned businesses looking to expand globally, particularly in the fintech sector, according to Alpha Lau, director-general of Investment Promotion, InvestHK.
“There’s actually a lot of interest locally in the Philippines for their entrepreneurs in the fintech space to be expanding through a financial hub like Hong Kong,” Lau said in a briefing Tuesday.
Lau said InvestHK is also meeting “very discreetly” with individual companies and families to discuss using Hong Kong as a base for overseas ventures and family offices. “Companies come to Hong Kong because we want them to win, to make money, and to make a name for themselves outside of the Philippines,” she said.
The outreach comes as Hong Kong and the Philippines are working to finalize a double taxation agreement (DTA) aimed at strengthening bilateral business ties.
Both sides are eager to complete negotiations “as soon as possible,” with the next round scheduled for October.
