Ranked among top 5 places to do business
Hong Kong has been ranked fifth in the world’s easiest places to do business, reaffirming the government’s efforts in business facilitation. In its “Doing Business 2018 Report”, the World Bank commended Hong Kong for successfully implementing reform measures, including improving the quality of the land administration system by enhancing its reliability and establishing a complaints mechanism. The report compares the ease of doing business in 190 economies across 10 indicators. Hong Kong performed well in “starting a business” (3rd), “paying taxes” (3rd), “getting electricity” (4th) and “dealing with construction permits” (5th).
Smart city infrastructural investment
The imminent input of millions of infrastructural investment coupled with a smart city blueprint will put Hong Kong on course to become a smarter city. Secretary for Innovation and Technology Nicholas Yang said the infrastructural projects included a single digital identity and authentication platform for online government and commercial transactions, a multi-functional smart lampposts pilot, and more reliable and efficient delivery of e-government services from the government cloud structure. Each new infrastructure will mean more new opportunities for the information and communication technology industry.
Most visited city in the world
Keeping the title for the eighth consecutive year, Hong Kong remains the world’s most visited city by international travelers due to its strategic location and ties with China, according to a study by London-based Euromonitor International. An estimated 26 million international visitors are expected in Hong Kong this year.
Source: Hong Kong Economic and Trade Office