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Hong Kong Convention and Exhibition Center welcomes $130 million subsidy.

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Hong Kong Convention and Exhibition Center welcomes $130 million subsidy. Others

The professional private management company, Hong Kong Convention and Exhibition Center (Management) Limited or HML, recently decided to welcome a subsidy of over US$130 million by the Hong Kong Special Administrative Region (HKSAR). HML is responsible for the daily operation of the Hong Kong Convention and Exhibition Centre. The Government has planned to provide support to the convention and exhibition industry of Hong Kong. This plan also contributes to the idea of reviving Hong Kong’s position as the event capital of Asia.
Under the scheme, any exhibitions and international conventions held at the HKCEC for the forthcoming 12 months, having above 400 participants including 50% participants from outside of Hong Kong will alleviate event organizers with 100% venue rental cost. In addition, the conference delegates and exhibitors who take part in conventions and exhibitions organized by the Hong Kong Trade Development Council will be eligible for a 50% refund of their participation fees.
Earlier, a lot of additional costs were spent on marketing and logistics for the smooth operation of events as well as to retain exhibitors. The current scheme will cut down the financial pressure of the event organizers.
Monica Lee Muller, Managing Director, HML said in a press statement that the organization appreciates HKSAR Government’s financial support. She considers the support as a timely relief measure. She also shared that Hong Kong’s industry has been widely affected by the recent coronavirus outbreak and the public activities in the second half of last year. She thinks the scheme would help in the betterment of the situation.
Ever since the outbreak of the COVID-19 coronavirus, some exhibitions and conferences scheduled from February to April 2020 have either been postponed or scheduled for later. However, HML has joined hands with event organizers to work towards rescheduling such events with ease and flexibility.
The date of implementation of the scheme is yet to be announced.

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