Hong Kong Finally Gears up to Take the Fight to Singapore

After a lost couple of decades, Hong Kong authorities are finally gearing up to make the city more competitive for shipping companies to set up shop.

Hong Kong’s Financial Services Development Council (FSDC) has released a research report, addressing the importance of developing a significant maritime financing and leasing industry in Hong Kong.

The report sets out the current issues challenging Hong Kong’s shipping industry in terms of the ship register, labour, government policies, tax and finance, noting that Hong Kong is facing keen competition from major Asian competitors in building its maritime cluster.

FSDC believes Hong Kong lags behind other major shipping centres in building a base for commercial principals, such as shipowners, lessors, carriers, investors, operators, and shipmanagement companies.

Source: Splash 24/7

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