What are the challenges?
Challenges and risks when doing business in Hong Kong
Hong Kong presents fewer challenges for UK companies than most overseas markets. It has been ranked the freest economy in the world by the Heritage Foundation for 24 consecutive years, see: https://www.heritage.org/index/country/hongkong, and is ranked fourth in the World Bank’s 2019 Ease of Doing Business Index at: http://www.doingbusiness.org/en/data/exploreeconomies/hong-kong-china.
[Source – FCO Overseas Business Risk: Hong Kong, gov.uk, Heritage Foundation, World Bank]
Bribery and corruption
In Hong Kong there is zero tolerance for bribery. Bribery and corrupt transactions in both the public and private sectors are criminalised and are investigated and prosecuted by the Hong Kong Independent Commission Against Corruption (ICAC).
In Transparency International's latest 2018 Corruption Perceptions Index (announced Jan 2019), Hong Kong is ranked 14th out of 180 countries reflecting its robust structure of checks and balances (the UK ranks 11th): https://www.transparency.org/country/HKG.
[Source – FCO Overseas Business Risk: Hong Kong, gov.uk]
Local warnings are issued in advance of typhoons, which can occur in Hong Kong and Macau between April and October, and can cause flooding and landslides. Public offices shut down when the ‘Typhoon 8’ signal is hoisted.
Local weather updates can be monitored from the Hong Kong Observatory at: http://my.weather.gov.hk/myindex.htm, and the UK Government has guidance at: https://www.gov.uk/guidance/tropical-cyclones on what to do if you are caught up in a tropical cyclone.
Although the British Consulate-General in Hong Kong can provide consular support to British nationals, consular support may be limited in Macau.
[Source – Foreign Travel Advice: Macau, gov.uk]
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