BUD Free Trade Agreement Program
BUD Business Support Program – Free Trade Agreement Program (formerly known as ASEAN Program)
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BUD ASEAN and Free Trade Area
Amount of special fund
From January 20, 2020, the ASEAN program has been upgraded to a free trade agreement program, joining Australia, Chile, EFTA countries (Iceland, Liechtenstein, Norway, Switzerland), Georgia, Macau and New Zealand.
In addition to the optimization measures for the Mainland plan, BUD added an ASEAN plan on August 1, 2018 by the government. The ASEAN plan includes ten countries: Malaysia, Myanmar, the Philippines, Singapore, Thailand, Brunei, Indonesia, Cambodia, Laos, and Vietnam. The funding amount is as high as 4 million. To enable Hong Kong enterprises to enhance their competitiveness in the ASEAN market and promote business development in the ASEAN market.
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BUD Business Support Program – FTA Program Eligibility
To further support local businesses in addressing the challenges facing Hong Kong’s economy, the 2019-20 Budget proposes to inject HK$1 billion into the BUD Special Fund and expand the scope of the BUD Special Fund’s funding to all countries that have signed free trade agreements with Hong Kong (since trade agreement) economies. To further expand the scope of funding of the Fund to cover all economies that have signed free trade agreements with Hong Kong in the future, that is, in addition to the original “Mainland Plan”, a “Free Trade Agreement Plan” has also been launched (the “ASEAN Plan” has been incorporated into its Down).
Application documents required for BUD special fund
1. The software file of the application form (MS word format, Chinese or English version)
2. One original copy of the application form signed by the authorized person of the applicant company and stamped by the company
3. Other supporting documents:
- A copy of the business registration certificate of the applicant company
- Copies of supporting documents for the information of the major shareholders of the applicant company (e.g. Annual Return Form AR1 issued by the Companies Registry)
- Copies of documents proving that the applicant enterprise has substantive business operations in Hong Kong
- Copies of documents proving that the applicant enterprise has a direct investment relationship with a mainland business unit
The maximum number of projects that can be funded by each enterprise
Up to 40 approved projects for Mainland and FTA schemes, each of which must be completed within 24 months.
Maximum funding amount per project
HK$1 million positive
BUD Special Fund – Free Trade Agreement Program Application Procedure
- submit application
- Approval application
- Carry out approved projects
- Submit progress report and annual audited accounts
- Complete the project
- Submit final report and final audited accounts
BUD Special Fund – Scope of the Free Trade Agreement Program
- Branding: brand establishment, brand development strategy, positioning and image design, brand property research, brand recommendation, etc.;
- Upgrading: New product design, new technology introduction, production automation, improvement of management system and logistics management, etc.
- Domestic Sales: Marketing strategy and research, marketing strategy and planning, establishment of marketing channels, service promotion, etc.
Useful Links for BUD Special Fund
More government funding articles about the BUD Special Fund BUD Application Guidelines – Special Fund for Brand Development, Upgrading and Transformation and Expanding the Domestic Market (Corporate Support Program) Application Guidelines (https://fta.bud.hkpc.org/sites/default/files/download/FTA-Guide-to-Application-EN.pdf)
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