Exploring and learning about the markets in South East Asia: Hong Kong (part 1)
To support 100 SMEs on their way toward export in the Greater Bay Area and Vietnam, the Leap4Growth team began with the most important step: understanding the markets from the inside. Before inviting companies to join delegations in 2026, we travelled to both regions to meet local partners, map opportunities, understand the business culture and identify what it actually takes to grow there. The result is a clearer picture of where Nordic and Baltic SMEs can succeed, and what they need to prepare for. Here is part one: Hong Kong.
Hong Kong: A gateway market with clear structure and strong demand for innovation
Hong Kong is fast-paced, international and structured, a city where business moves quickly but with clarity. During our three days here, we held more than a dozen meetings with government agencies, innovation hubs, consulates, chambers and private consultants. Together, these stakeholders painted a consistent picture: Hong Kong actively welcomes international tech companies and offers a wide set of tools to help them enter the market.
“We’ve learned that Nordic and Baltic companies are trusted here, for quality, transparency and sustainability. But you need to show up, engage locally and build real relationships.” – Klara Ewald, Project manager for the Leap4Growth project.
From Wanchai to Kowloon to the Hong Kong Science Park in the New Territories, we explored the ecosystem that SMEs will later meet. Below are the strongest insights.
Public support structures open real doors
Our meetings with Hong Kong Trade Development Council (HKTDC), Office for Attracting Strategic Enterprises (OASES) and Hong Kong Science & Technology Park (HKSTP) showed how strongly the government invests in attracting strategic enterprises. OASES, Hong Kong’s flagship agency for innovation attraction, offers: one-stop soft-landing for international companies support with tax, visas, land allocation, education and staffing direct connections to government units and strategic partners. To qualify, companies need to demonstrate technological strength and a commitment to building local presence. HKSTP, meanwhile, introduced us to biotech labs, advanced manufacturing clusters and digital incubators.
Healthtech, AI and advanced tech lead the way
Hong Kong’s demand for innovation is particularly strong in biomedical and healthtech, AI and data-driven solutions, green manufacturing and greentech, fintech and digital services, as well as microelectronics and advanced hardware.During our meeting with Cisema, we gained insights into regulatory pathways for medical products, including timelines, local agent requirements and the role of Hong Kong as a pilot market before expanding into Mainland China.
Local presence and partnerships matter
This theme was repeated across discussions with the EU Office, Business Sweden, SwedCham and the Finnish Consulate: companies must be ready to be here physically.
Hong Kong is globally connected, but business culture still values relationship-building over time, speed and reliability, working with trusted local distributors or agents, and having stock available or a clear local presence. Companies that can match this pace and presence have a strong advantage.
A strategic gateway into the Greater Bay Area
With Shenzhen and Guangzhou only minutes away by high-speed rail, Hong Kong offers SMEs a stable first step before expanding into the broader Greater Bay Area the world’s #1 innovation region according to the Global Innovation Index 2025 by WIPO.
This makes Hong Kong an ideal place for testing products, validating market fit, building investor connections and preparing for a future scale-up into Mainland China.
Hong Kong – Key Takeaways for SMEs
Here’s a quick summary of the most actionable insights for companies considering Hong Kong as their first step into Asia.
- Public programmes offer clear, structured soft-landing support
- Local partnerships and presence are essential
- Strong opportunities in healthtech, AI, advanced tech and greentech
- Business pace is fast, quick responses matter
- Clear legal framework and simple incorporation
- Ideal first step before entering Mainland China
Ready to explore this market with us?
Through Leap4Growth, SMEs from the Central Baltic region can access tailored guidance, local expertise and upcoming delegations to Hong Kong. If your company is curious about taking its first steps into Asia, this is the moment to join the project and let us help you navigate the journey.
Register here: https://forms.gle/j98sNMSk3RSP4xdR9
Contact: Klara Ewald, Project Lead: klara.ewald@nosp.se
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