Based on the views of the companies that responded to the Survey on “Hong Kong Brands: The Road to Relaunch”, the BDC proposed the following measures to support the further development of Hong Kong brands:
As the HKSAR Government’s work to control COVID-19 epidemic evolves, the “Supporting Enterprises” strategy should shift the focus from addressing short-term operational difficulties to assisting enterprises in rebuilding and enhancing competitiveness.
As revealed by the Survey, the most pressing demand raised by the participating companies is sustaining a stable business environment in Hong Kong, which reflects their strong desire for social stability. The BDC thus calls for the HKSAR Government and various community sectors to build consensus and join hands to restore and maintain the rule of law, stability and a favourable business environment.
To the extent that “Hong Kong Brands” is one of the critical “soft powers” of the City and a public asset available for local enterprises to leverage on, the HKSAR Government should attach greater importance to promoting “Hong Kong Brands”, which could serve as one of the future directions for rebuilding the image of Hong Kong as well as developing external economic and trade relations. Apart from organising large-scale signature events for promoting Hong Kong brands in both Mainland China and overseas, the Government should also encourage and assist Hong Kong enterprises to act collectively in exploring the international market, for example, setting up collective distribution facilities and launching publicity campaigns for “Hong Kong Brands” in markets outside Hong Kong.
The BDC suggests the Government to strengthen financial support for brand enterprises, including optimising the “SME Export Marketing Fund”, establishing a more targeted “Brand Development Support Programme”, and providing financial incentives such as additional tax deductions for expenses related to branding. Meanwhile, the Government can consider upgrading the “Distance Business (D-Biz) Programme” to become a regular funding scheme and extending the scope of subsidy to both “hard technology” and “soft skill” projects, so as to stimulate and support digital transformation sustainably and more effectively.
In line with the trend that the industries are paying increased attention to domestic and neighbouring markets, the Government’s funding schemes should include projects aimed primarily at the domestic market. The Government should also consider giving priority to Hong Kong brands when devising public procurement policies, and taking the lead or assisting to organise local trade shows or promotional events, so as to provide platforms for Hong Kong brands to explore the local market.
The BDC envisions building a “Brand Greater Bay”, aiming to foster a “brand economy” in the Greater Bay Area which can be another iconic attribute of the region’s identity. It is suggested that the Government should facilitate Hong Kong companies to anchor in the regional markets and enable Hong Kong brands to foster branding partnerships among enterprises in the GBA. The implementation of “Brand Greater Bay” Vision will open up a new dimension for economic cooperation between Hong Kong and other cities in the Greater Bay Area, and create a new avenue for engaging Hong Kong companies in this regional development initiative.
