Laservall Announces $300 Million Investment, Expands R&D in Hong Kong's Advanced Manufacturing Sector

2025-03-31 12:12 Last Updated At：14:48

Speech by SITI at Laservall - "From Hong Kong To Global: The Future of Advanced Manufacturing and Microelectronics"

Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Laservall -"From Hong Kong To Global: The Future of Advanced Manufacturing and Microelectronics" event today (March 31):

Ms Lee (Korean Consul (Commerce), Consulate General of the Republic of Korea in Hong Kong, Ms Jaeyon Lee), James (Chairman of Laservall, Mr James Kang), Andrew (Chief Executive Officer of Laservall, Mr Andrew Kim), Albert (Chief Executive Officer of the Hong Kong Science and Technology Parks Corporation, Mr Albert Wong), distinguished guests, ladies and gentlemen,

Good morning. It is my pleasure to stand before you today to celebrate Laservall's global expansion in Hong Kong - a milestone that marks the company's distinctive success achieved in developing advanced high-precision laser inter-connect solutions and automation system for advanced manufacturing.

Founded in Hong Kong in 2003 and commencing its amazing journey at the Hong Kong Science Park in 2024, a cradle that nurtures thousands of innovation and technology (I&T) companies, Laservall has evolved into a world leader in the advanced manufacturing industry today. With its extensive clientele including some renowned global brands in the industry of smartphone camera modules, electronics and automotive, Laservall continues to expand its operations with R&D (research and development) centres and production facilities across Asia.

We are so excited to witness Laservall's success today, as advanced manufacturing has been a pivotal sector and significant power engine to drive the development of new industrialisation in Hong Kong.

Following the promulgation of the Hong Kong Innovation and Technology Development Blueprint in December 2022, the Hong Kong SAR Government has been actively promoting new industrialisation through supporting the advanced manufacturing industries and encouraging the upgrading and transformation of traditional manufacturing sector through the use of I&T, with the aim of driving sustainable economic growth and creating high-quality employment opportunities.

To bolster the development of new industrialisation, our Government has stepped up its efforts by implementing a series of supporting policies and measures. For example, the New Industrialisation Funding Scheme was enhanced to reinforce our efforts in supporting enterprises to adopt smart manufacturing. As of February 2025, the scheme had supported more than 100 new smart production lines. To extend our dedication, we launched the New Industrialisation Acceleration Scheme last year to provide funding support for enterprises engaging in industries of strategic importance. We will also earmark another $100 million for the Pilot Manufacturing and Production Line Upgrade Support Scheme to provide financial support to companies setting up smart production facilities in Hong Kong.

Today, Laservall announces its plan of investing $300 million over the next five years and doubling the size of R&D team by 2026, and extending their R&D team eventually by sixfold by 2028. This not only reflects the company's commitment to innovation but also its unwavering confidence in Hong Kong's I&T industry. Its expansion at the Science Park is a perfect example of how it is leveraging Hong Kong's unique role as a "super-connector" and a "super value-adder" to strengthen its presence in the global market.

May I once again extend my sincere congratulations to Laservall for its outstanding I&T achievement. I am confident that we will soon witness more local companies, like Laservall, stepping onto the global I&T stage and demonstrating the remarkable outcomes of Hong Kong's R&D capabilities to the world in the near future. Thank you.

Hong Kong Showcases Creative Game Industry at ChinaJoy Expo 2023

CCIDA sponsors industry to participate in 23rd China Digital Entertainment Expo and Conference

Sponsored by the Cultural and Creative Industries Development Agency (CCIDA) under the Culture, Sports and Tourism Bureau, the Hong Kong Game Developer Alliance (GameDEVA) organised the industry to participate in the 23rd China Digital Entertainment Expo and Conference (ChinaJoy Expo) held in Shanghai from July 31 to August 2. To promote the creativity of Hong Kong's game industry and to explore business opportunities, the Hong Kong Pavilion was once again set up to showcase 18 original games' intellectual properties (IPs) from 18 local game enterprises. During the three-day exhibition period, which featured business-matching sessions, the Hong Kong Pavilion attracted a large number of professional buyers, investors, agents and media representatives to visit and undertake business connections, indicating an enthusiastic response.

The Hong Kong Pavilion at the ChinaJoy Expo was sponsored by CCIDA for the second consecutive year. This year's participating works cover a wide range of genres including action, adventure, simulation, strategy and role-playing, fully demonstrating the creative strengths of Hong Kong's game industry. The pavilion also featured activities such as trials of original Hong Kong games, on-site networking with game developers, and IP business-matching sessions, enhancing interactions and exchanges between the industry and visitors. The participation in the ChinaJoy Expo not only promoted the exceptional creativity and capabilities of Hong Kong's digital entertainment industry to the Chinese Mainland market, but also deepened exchanges and co-operation in the digital entertainment sector between the two places, and helped the industry expand its commercial and trade networks. Following the Expo, GameDEVA also organised a delegation to visit leading game enterprises in Shanghai, fostering meaningful exchanges between the industries of the two places.

In recent years, Hong Kong's digital entertainment industry has achieved breakthrough growth, with the overall market size reaching about HK$20 billion. Currently, there are more than 200 game-related companies in Hong Kong, and about 50 locally developed games are officially launched each year. With the continued support of CCIDA, Hong Kong's game industry has been accelerating its integration into the Chinese Mainland and global markets, demonstrating its profound strengths and development potential.

Jointly guided by the National Press and Publication Administration, as well as the Shanghai Municipal People's Government, and organised by the China Audio-video and Digital Publishing Association, the ChinaJoy Expo is the largest digital interactive entertainment event on the Chinese Mainland. For more information about the ChinaJoy Expo and the Hong Kong Pavilion, please visit en.chinajoy.net and www.facebook.com/gamedeva.hk.

Laservall Announces $300 Million Investment, Expands R&D in Hong Kong's Advanced Manufacturing Sector

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