Professional Services Fund Opens

The Government today announced that the Professional Services Advancement Support Scheme is inviting a new round of funding applications from non-profit-distributing organisations.

These organisations include professional bodies, trade and industrial organisations and research institutes.

With a total allocation of $200 million, the scheme aims to fund non-profit-making industry-led projects to increase exchanges and co-operation between Hong Kong's professional services and external counterparts, promote relevant publicity activities, and enhance service standards and external competitiveness.

A wide range of professional services, such as accounting, legal and dispute resolution, architecture, engineering, healthcare, information and communications technology, design and technical testing and analysis, are eligible for the scheme.

The maximum grant for each approved project is $3 million or 90% of the total eligible project cost, whichever is lower.

As announced in the Chief Executive's 2020 Policy Address, a funding of $50 million will be set aside under the scheme to subsidise major professional bodies to participate in exchanges, promotion and professional standard enhancement activities organised by the Government, the Trade Development Council and overseas economic and trade offices.

Meanwhile, professional bodies are encouraged to make use of the funding to organise activities to step up promotion of Hong Kong's competitive edge and their services to Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area and overseas markets after the COVID-19 pandemic situation has stabilised.

As of the end of November, more than 60 projects have been funded under the scheme, including activities in and outside Hong Kong.

The scheme receives applications all year round and they are processed on a quarterly basis. The deadline for this round of applications is February 28, 2021.

A briefing session will be held this month for organisations interested in applying for the funding. For registration or other enquiries, call 3655 5418 or send an email to [email protected].