Re-industrialisation subsidy opens

2020-07-30 23:52:52

The Innovation & Technology Commission today rolled out the $2 billion Re-industrialisation Funding Scheme to subsidise manufacturers to set up new smart production lines in Hong Kong.

The scheme, which is under the Innovation & Technology Fund, aims to encourage manufacturers to develop advanced manufacturing industries in Hong Kong that are based on smart production to promote re-industrialisation and identify new growth points for the local economy.

Companies incorporated in Hong Kong under the Companies Ordinance are eligible to apply for the subsidy.

The Government will provide funding on a 1:2 matching basis, with a ceiling set at one-third of the total project cost or $15 million, whichever is lower. The approved funding will be disbursed upon completion of the project.

The funding covers expenses directly related to the establishment of the new local smart production line, including costs of procurement, installation and commissioning of the machinery, equipment or apparatus, as well as fees for engaging technical consultants for the design and setting up of the production line concerned.

The scheme is open for applications throughout the year. A vetting committee has been established to review applications.

For enquiries, call 3655 5678 or send an email to the scheme's secretariat.

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