Background

The Hong Kong Special Administrative Region Government will launch the ASEAN Programme of the “Dedicated Fund on Branding, Upgrading and Domestics Sales” on 1 August 2018 to provide funding support to individual non-listed Hong Kong enterprises to enhance their competitiveness and facilitate their business development in the ASEAN markets*. Funding is provided to enterprises on a matching basis with cumulative funding ceiling of $1 million for a maximum of 10 projects.  The funding ceiling per project is $1 million.

*ASEAN comprises Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

 

" ASEAN Programme"

Eligibility
 All non-listed enterprises registered in Hong Kong under the Business Registration
 Ordinance (Chapter 310) with substantive business operations in Hong Kong are
 eligible to  apply
Funding
ceiling
per project 

 HK $1 million 

Cumulative
funding ceiling per enterprise

HK $1 million  for a maximum of 10 projects

Disbursement
of Funds
(Applicant enterprise can select either method [1] or [2]) 

 

 Method [1] - With Initial
 Payment:
  • Enterprise is required to open a designated bank account for project income and expenses
  • Project can only commence after  signing of the funding agreement

Method [2] - Without Initial Payment:

  • Enterprise is not required to open a designated bank account for the project
  • Project can commence on the day after the date of submission of application (funding is subject to approval of the application). 

 

 

Project Monitoring 

Project Duration
Submission of Progress  Reports
and Annual Audited Accounts
Submission of Final Report and
Final Audited Accounts

18 months or below   

 Not required

 Within 2 months upon project completion

Over 18 months and
up to 24 months
 1 progress report and annual audited
 accounts for the first 12 months,
 to be submitted within 1 month after
 the relevant 12-month period

 Within 2 months upon project completion

 

Disbursement of Funds

Funding Disbursement Method
Method [1]
With initial payment 
Method [2]
Without initial payment
Project Duration of 18 months or below   

Initial payment: 25% of total approved Government funding

Mid-term payment: not applicable

Final payment: balance of approved Government funding (subject to actual expenditure upon project completion)

Initial payment: not applicable

Mid-term payment: not applicable

Final payment: approved Government funding on recognisable project expenditure

 

Project Duration of more than 18 months and up to 24 months
 
Initial payment: 25% of total approved
Government funding
 
Mid-term payment*: 25% of approved
Government funding at maximum,
(subject to project progress and
actual expenditure)

Final payment: balance of approved Government funding (subject to actual expenditure upon project completion)

*Disbursement is subject to acceptance of progress report and annual audited accounts 

 

 Initial payment: not applicable

Mid-term payment*: 50% of approved Government funding at maximum (subject to project progress and actual expenditure)

Final payment: balance of approved Government funding (subject to actual expenditure upon project completion)

*Disbursement is subject to acceptance of progress report and annual audited accounts

 

 

Download Guide to Application (ASEAN Programme)

 

Application Form “Type (i) Project Application” (ASEAN Programme)

 

Application Form “Type (ii) Project Application” (ASEAN Programme)

 

Important notes to applicants

  • The Programme Secretariat of the BUD Fund has not appointed or designated any consultancy companies or organizations to provide any fee charging services in relation to the BUD fund (including but not limited to assisting the enterprises to submit applications, formulation of the Holistic Business Plans and implementation of approved projects).
  • The Programme Secretariat has not recognized or endorsed the service quality and capability of any consultant/ company which had assisted the funded enterprises to formulate the business plan / implement the funded projects.  Any consultancy companies or organizations claiming to be approved or designated by the Programme Secretariat for promoting or soliciting business are misleading and making misrepresentation, the applicants should report the cases to the Programme Secretariat for following up and taking appropriate actions.
  • It is the responsibility of an applicant enterprise to complete an application form timely and truthfully and to provide all supporting documents.  Inaccurate and incomplete information may affect the processing of the application.  Any misrepresentation or omission of information may lead to rejection of the application and/or full recovery by The Secretariat of any grant which has been awarded.  It is an offence in law to obtain property/pecuniary advantage by deception or assisting persons to obtain property/pecuniary advantage.  Any person who does so may be liable to legal proceedings.

 

Reminder on Application Submission

A full set of completed application form together with valid supporting documents and their softcopies should be submitted to the designated collection location.   Any application with incomplete information (such as only with soft copy or hard copies) will not be processed until the completed set of documents have been received. The Programme Secretariat possesses the final decision right for any dispute cases, if any. Application documents should include:

1.  Soft copy (in MS word format) of the completed application form (either in English or Chinese)      

2.  1 hard copy of application form with signature and company chop     

3.  Supporting documents of the applicant:

-  Copy of the Business Registration Certificate  

-  Copy of documentary evidence showing the personal details of the key owners/ shareholders  (e.g. Annual Return of the Companies Registry (Form AR1) etc) 

-  Copy documentary evidence proving that the applicant has substantive business operations in Hong Kong       

-  Copy of documentary evidence proving the direct investment relationship between the applicant and its ASEAN entity

 

Cut-off Dates of Application

The programme is open for application all year round.  Applications are processed by batches in every three months. The Programme Management Committee will consider the applications received before the cut-off date at its upcoming meeting.   Applications received by the Programme Secretariat after the cut-off date will be processed together with the next batch of applications to be received by the next cut-off date.
 

The cut-off time of the current batch of application is 6:00 pm of 30 September 2019.

 

Other Useful Information

Click here for the HKTDC’s Belt and Road Initiative ASEAN guide for SMEs to get the latest information on ASEAN market intelligence.