The Izmir office is the second InvestHK office in Turkey. Credits: GettyImages/Chunyip Wong

Invest Hong Kong (InvestHK), Hong Kong’s government agency dedicated to attracting and retaining foreign direct investment (FDI), has opened a consultant office in Turkey’s western city of Izmir. According to the organisation run by the Hong Kong Special Administrative Region (HKSAR), the office began operations on January 1st.

This is the investment promotion agency’s second office in Turkey. The first was established in Istanbul in 2006.

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The venture is part of Hong Kong’s 2024-2025 budget, which aims to strengthen business ties with the Middle East.

“Turkey is part of the Belt and Road Initiative and is one of our target markets with growing economic potential. It has long been recognised as a strategic hub for global trade, logistics and manufacturing. The opening of our second office there signifies our enhanced efforts to promote the opportunities Hong Kong has to offer for Turkish corporates looking to expand in the region,” InvestHK’s director-general Alpha Lau said in a statement.

“InvestHK set up its first consultant office in Istanbul back in 2006, supporting the department in Turkey to bring in corporates and investment into Hong Kong. With the huge economic potential in Turkey, especially the highly developed sectors in Izmir, such as renewable energy, software and IT services, maritime and biotechnology, we will step up our efforts to bring in more corporates and investment to Hong Kong,” Invest HK’s Istanbul office principal consultant Nese Secer added.

According to data from Turkey’s Central Bank, in 2022 Hong Kong’s total FDI stock in Turkey was $40m, making it the 17th biggest Asian investor in the country. In 2023, Hong Kong and Turkey signed Investment Promotion and Protection Agreements (IPPA).

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