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Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)

The BUD Fund provides funding support to individual Hong Kong enterprises in undertaking projects to develop brands, upgrade and restructure their business operations and promote sales in the ASEAN market and Mainland China market, so as to enhance their competitiveness and facilitate their business development in the ASEAN and Mainland China market.

Funding will be provided on a matching basis, i.e. the Government will cover a maximum of 50% of the total approved project cost and the enterprise has to contribute no less than 50% of the total project cost in cash.

A new round of enhancement measures to the BUD Fund was implemented on 20 January 2020.  The enhancement measures are summarised below:

- Extending the geographical coverage of the BUD Fund to all economies with which Hong Kong has signed Free Trade Agreements (FTAs)#.
- Increasing the cumulative funding ceiling per enterprise to HK$4 million, allowing enterprises to flexibly make use of the total funding of up to HK$4 million to expand to new markets.
- Increasing the ratio of initial payment from 25% to up to 75% of the total approved government funding.
- Removing the requirements for the grantee to open and maintain a separate interest-bearing bank account and to deposit into the account the required amount of matching funds before receiving the initial payment.
- All projects, including those opting for initial payment, can commence upon submission of applications.
- Relaxing the budget cap of individual expenditure items (including procuring/leasing of additional machinery/equipment, producing samples/prototype, patent/trademark/design/utility model registration).
- Allowing more fundable items (including costs for setting up new business entity in the Mainland, procuring/leasing additional machinery/equipment for increasing production capacity under the Mainland Programme, etc.).

# Including Mainland China, New Zealand, the four member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Chile, Macao, the ten member states of the Association of Southeast Asian Nations (ASEAN), Georgia and Australia.

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