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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city

Hong Kong's Investment Promotion and Protection Agreements

Hong Kong has been endeavouring to sign Investment Promotion and Protection Agreements ("IPPAs" or "Investment Agreements" in short) with foreign economies in order to enhance two-way investment flows and boost our economy. An IPPA is an agreement between governments for the promotion and protection of investments made by investors of one contracting party in the area of the other contracting party.

Hong Kong's IPPAs give additional assurance to overseas investors that their investments in Hong Kong are protected, and enable Hong Kong investors to enjoy similar protection in respect of their investments overseas.
A typical IPPA provides for, among others, the following:

  • fair and equitable treatment of investments;
  • full protection and security of investments;
  • non-discriminatory treatment of investments;
  • non-discriminatory treatment in compensation for losses owing to, among others, war or other armed conflict;
  • compensation for expropriation of investments;
  • free transfer abroad of investments and returns;
  • settlement of investment disputes between a contracting party and an investor of another contracting party; and
  • settlement of disputes between the contracting parties on interpretation or application of the IPPA.

Hitherto, Hong Kong has signed 24 IPPAs with foreign economies. Separately, an Investment Agreement under the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) was signed in 2017 and has been implemented since 1 January 2018.


IPPAs in Force
IPPA Partners Dates of Entry
Into Force
IPPA Texts Useful Links
The Association of Southeast Asian Nations (ASEAN)

ASEAN comprises -
  • Brunei Darussalam
  • Cambodia
  • Indonesia
  • Laos
  • Malaysia
  • Myanmar
  • The Philippines
  • Singapore
  • Thailand
  • Viet Nam
(for Hong Kong, Laos, Myanmar, the Philippines#, Singapore, Thailand and Viet Nam)

(for Malaysia)

(for Indonesia)

(for Brunei Darussalam)

(for Cambodia)

# The part relating to the Philippines took effect from 12.5.2020 onwards.
Side agreements:
Press release:
Australia 17.1.2020

[Note: the previous IPPA signed in 1993 by Hong Kong and Australia was terminated on 17.1.2020.]
Press release:
Austria 1.10.1997 English
Belgo-Luxembourg Economic Union 18.6.2001 English
Canada 6.9.2016 English
Press release:
Chile 14.7.2019 English
Press release:
Denmark 4.3.1994 English
Finland 16.3.2014 English
Press release:
France 30.5.1997 English
Germany 19.2.1998 English
Italy 2.2.1998 English
Japan 18.6.1997 English
Republic of Korea 30.7.1997 English
Kuwait 14.9.2013 English
Press release:
Mexico 16.6.2021 English
Press release:
Netherlands 1.9.1993 English
New Zealand 5.8.1995 English
Sweden 26.6.1994 English
Switzerland 22.10.1994 English
Thailand 12.4.2006 English
Press release:
United Arab Emirates 6.3.2020 English
Press release:
United Kingdom 12.4.1999 English


IPPAs Signed (Pending Entry into Force)
IPPA Partners IPPA Texts Useful Links
Bahrain English
Press release:
Türkiye English
Press release:


IPPA Negotiations Concluded (Pending Signing)
IPPA Partners Useful Links


IPPAs under Negotiation
IPPA Partners Useful Links
Saudi Arabia


Information on investing in Hong Kong
Other relevant information

The Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) provides funding support for individual non-listed Hong Kong enterprises to undertake projects to develop brands, upgrade and restructure their business operations and promote sales in the economies with which Hong Kong has signed IPPAs. For details, please refer to the dedicated webpage of the BUD Fund.

Enquiries and Comments

Enquiries, comments and suggestions on IPPAs, including the IPPAs under negotiation, are welcome. They can be sent to:

Trade and Industry Tower, 3 Concorde Road, Kowloon City, Hong Kong
Tel. : 2398 5354 *
Fax : 2789 9761

Office hours: Monday to Friday
  8:45 a.m.-12:30 p.m.
  1:30 p.m.- 6:00 p.m.

* Telephone conversations shall be recorded to ensure service quality. The recorded conversations will be kept for 90 days. Members of the public may request for conversations relevant to them recorded in 90 days on a CD, at a charge of $57 per CD.