The Budget will be released next month, and the Chinese Manufacturers’ Association (CMA) gave a number of suggestions. One proposed item is to release, as the EMF, the geographical limitation of the BUD Fund. The Fund should support all markets outside Hong Kong (no more Mainland Programme and FTA and IPPA Programme), the CMA suggested.
Up to Jan 2023, the BUD Fund supports Mainland China and other 36 economies.1
Major economies not supported by BUD
As a government funding consultant, BizMagnet supports the proposal. The EMF experience is a strong evidence to the demand and feasibility. Let us list some major economies not yet supported by BUD here:
- G7 – the United States
- BRICS – Brazil, Russia, India and South Africa
- Other G20 – Argentina, Turkiye and Saudi Arabia
- EU – All members in Eastern Europe, Ireland, Spain and Portugal
- All countries in Middle Asia, South Asia and Africa
We notice that the BUD Fund doesn’t cover popular markets such as the United States and Taiwan, as well as the countries of Middle Asia, South Asia and Mediterranean, which are major players in Chinese “one belt one road” strategy.
As the BUD Fund was extensively broadened in 2022, we don’t expect the release of all geographical limitation in 2023. Nevertheless, we welcome the addition of popular markets and strategical regions.
- The BUD Fund supports: Mainland China, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, Australia, Chile, Iceland, Liechtenstein, Norway, Switzerland, Georgia, Macao, New Zealand, Japan, Republic of Korea, Kuwait, Austria, Belgium, Luxembourg, Canada, Denmark, Finland, France, Germany, Italy, Mexico, the Netherlands, Sweden, the United Arab Emirates and the United Kingdom. https://bizmagnet.co/what-countries-are-covered-by-bud-fund/