The government has outlined additional measures to continue to remain globally competitive.
Hong Kong received 160,000 applications after it launched the Hong Kong Talent Engage scheme to attract more talent to the city.
Out of the 160,000 applications, 100,000 were approved and around 60,000 individuals arrived in Hong Kong as of the end of September.
In his policy address, Chief Executive John Lee said despite Hong Kong’s continuous growth, the rising global competition urges the city to sustain its efforts. Lee then outlined initiatives to attract enterprises, investments, and talents in Hong Kong.
One of the few measures the government took was the Hong Kong Talent Engage scheme, launched online last year, which will now have a physical office to support talents arriving in Hong Kong. A talent development conference will also be held in 2024 to attract talent from the GBA.
The government will also expand its Top Talent Pass Scheme by adding eight institutions from the Mainland and overseas to the list of eligible universities under the scheme to take effect in November.
Non-local students on full-time professional higher diploma programmes will be allowed to stay in Hong Kong for one year after graduation to seek jobs.
In addition, the Hong Kong visa policy for Vietnamese, Laotian, and Nepalese talents and travellers has been relaxed.
The government will work with authorities to further measures to help Mainland enterprises establish a presence in the city to develop Hong Kong’s “headquarters economy” and attract more businesses to set up headquarters or corporate divisions there.
A Capital Investment Entrant Scheme will be implemented to allow investors who make investments of $30m and up to apply for entry in Hong Kong. Details of this scheme will be announced by the end of the year.
A dedicated office for the Hong Kong Legal Talents Training Academy is also planned. This will promote exchange talent activities in regions in the Belt and Road Initiative. It will also provide training for foreign-related legal affairs in the Mainland and nurture legal talents with relevant legal systems.
Ultimately, Hong Kong will establish the International Academy Against Corruption in 1Q2024. Training for anti-corruption professionals from across the globe and local public and private sectors will be organised under this scheme.
