Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) FTA

Objectives:

• Support Hong Kong enterprises in developing brands, upgrading and transforming operations, and expanding marketing to tap into markets covered by Hong Kong's Free Trade Agreements (FTAs) and Investment Agreements.
• Help businesses diversify markets and enhance competitiveness amid economic challenges.
• Expand funding scope to include all economies with which Hong Kong has signed FTAs or Investment Agreements, covering 39 economies including ASEAN countries, Australia, Canada, EU members, Japan, Korea, UK, and others.

Target Beneficiaries:

• Eligible Hong Kong enterprises seeking to develop or enhance their brand, upgrade technology or management systems, or expand domestic sales channels in FTA and Investment Agreement markets.

Funding Scope Examples:

• Brand Development: Brand strategy and planning, brand positioning and image design, market research, brand promotion.
• Upgrading and Transformation: New product design, introduction of new technologies, management system enhancement, production automation.
• Domestic Sales Expansion: Domestic market research, sales strategy and planning, channel establishment, product/service promotion.

Application Process:

• Applicants must prepare and submit applications with accurate and complete information.
• Appoint a project coordinator and deputy coordinator from the applicant’s staff to liaise with the Hong Kong Productivity Council (HKPC) during application and project implementation.
• The HKPC may conduct interviews, meetings, or site visits with the coordinators during the application and project phases.
• Applicants are responsible for the authenticity of information; false or incomplete information may lead to rejection or withdrawal of approval and legal consequences.
• No authorized consultants or agencies are appointed by the fund; applicants should beware of misleading claims by third parties.

Key Features:

• Fund injection of HKD 1 billion in 2019-20 budget, expanded to HKD 2 billion with Legislative Council approval.
• Further HKD 1.5 billion injected in 2021 with phased optimization measures.
• Covers a wide range of economies under FTAs and Investment Agreements.
• Emphasis on supporting brand building, technological upgrading, and domestic market expansion.
• Strict compliance and monitoring by the HKPC to ensure proper use of funds.

This program aims to empower Hong Kong enterprises to leverage trade agreements for sustainable growth through strategic branding, innovation, and market development.