Dedicated Fund on Branding, Upgrading and Domestic Sales
The Government extended the geographical coverage of the BUD Fund in August 2018 to also include the Association of Southeast Asian Nation (“ASEAN”) markets. A further expansion of the geographical coverage was implemented in January 2020 to cover other economies with which Hong Kong had signed Free Trade Agreements (“FTAs”) to assist enterprises in taking the economic opportunities. The Government launched enhancement measures by phases in July 2021, including extending the geographical coverage of the Fund to include all economies with which Hong Kong has signed Investment Promotion and Protection Agreements (“IPPAs“). To strengthen the support to enterprises in enhancing their competitiveness and developing diversified markets, the cumulative funding ceiling per enterprise under the BUD Fund has been increased to HK$7,000,000 and the maximum number of approved projects per enterprise has been increased to 70 in November 2022.
The Government launched “Easy BUD” on 16 Jun 2023 to facilitate SMEs in preparing applications and implementing projects. The processing time of “Easy BUD” is shortened with simplified application and streamlined vetting arrangements. The funding amount per “Easy BUD” application is capped at HK$100,000.
Effective from 27 June 2022, the geographical scope of funding support of the BUD Fund cover the following economies: the ten member states of the Association of Southeast Asian Nations (Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the ean Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland), Finland, France, Georgia, Germany, Italy, Japan, Korea, Kuwait, Macao, Mexico, the Philippines, Singapore, Thailand and Vietnam), Australia, Austria, Belgo-Luxembourg Economic Union, Canada, Chile, Denmark, the four member states of the EuropNetherlands, New Zealand, Sweden, the United Arab Emirates and the United Kingdom.
Plan Your Application
Step 1 : Establish Business Development Objectives
Ensure the objectives fall within at least one of three areas in the scope of funding.
Step 2 : Define Project Scope
Select the applicable project measures and choose the appropriate type of application.
Step 3 : Devise a Project Budget
Determine the details of project measures and budget each measure accordingly.