Vetting Committee supports one more application under New Industrialisation Acceleration Scheme

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The Innovation and Technology Commission announced today (January 15) that the New Industrialisation Vetting Committee (the Vetting Committee) under the Innovation and Technology Fund has supported in principle an application submitted by Oriental Materials Hong Kong Limited under the New Industrialisation Acceleration Scheme (NIAS). The project plans to set up new production lines producing and validating semiconductor equipment which are under the advanced manufacturing technology sector. The estimated total investment amount is over $800 million, and the expected NIAS funding amount will be around $200 million.

The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, "We are glad that one more enterprise is planning to establish new advanced production facilities in Hong Kong through the NIAS. This project will not only bring cutting-edge manufacturing technologies to Hong Kong, but also further improve and upgrade the industrial chain, thereby enhancing Hong Kong's competitiveness. The Government will continue to support enterprises, driving new industrialisation and promoting high-quality economic development in Hong Kong."

The NIAS provides funding support on a 1 (Government): 2 (enterprise) matching basis for enterprises engaging in industries of strategic importance (i.e. life and health technology, AI and data science, advanced manufacturing and new energy technologies) and contributing no less than $100 million to setting up new smart production facilities in Hong Kong. Each enterprise can receive up to $200 million of funding under the NIAS. In addition, the Government also provides additional funding for relevant enterprises to engage research talent and/or technical personnel.

The NIAS is open for applications throughout the year. Details are available on the website of the Innovation and Technology Fund (www.itf.gov.hk). For enquiries, please contact the Secretariat of the scheme (Tel: 3543 5904; email: enquiry@itf.gov.hk).

Ends/Thursday, January 15, 2026
Issued at HKT 11:00

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