Hong Kong draws growing interest from Irish firms seeking expansion across Asia

Irish firms are increasingly considering Hong Kong as a base for expansion across Asia, according to Padraig Seif, president of the Irish Chamber of Commerce in the city. Seif attributes this growing interest to the city's status as a natural partner for Ireland, citing similarities in language, legal systems and tax policies. The Asia-Pacific Irish Business Forum, set to take place from November 19, aims to promote business and trade between Ireland and Hong Kong, as well as educate Asian attendees about Ireland's strengths in technology, pharmaceuticals and financial services.

Despite a relatively small commercial presence from Ireland in the past, Seif notes a surge in Irish business activity in Hong Kong, with the number of individual and corporate memberships in the chamber rising from 30 and 3, respectively, over the past three years. Additionally, the number of Irish nationals living in Hong Kong increased by 25% in September, while about 35 Irish firms are active across the Greater Bay Area.

Irish entrepreneurs, such as Patrick Malloney and his health sciences company P4ML, are taking advantage of Hong Kong's talent pool and universities to establish a presence in the city and create jobs. Specialist auditing firm Valaston has also opened its first Hong Kong office, citing growing interest in Hong Kong fund structures and recent tax and regulatory developments as key factors in their decision.