Hong Kong’s Office of the Communications Authority (OFCA) announced that subsidies to encourage 5G deployments will end on December 31.
The subsidy framework for encouraging early deployment of 5G was initially launched in May 2020 and aimed to encourage various sectors, with financial incentives, to deploy 5G technology early to foster innovation and smart city applications in Hong Kong.
The government of Hong Kong earmarked funding of HKD100 million ($12.9 million) for the subsidies, to cover up to half of the costs of projects involving the deployment of 5G technology, subject to a cap of HKD500,000 for each project. To date, OFCA said that over 160 applications have been approved under the subsidy scheme, covering various industries and sectors.
