Government Increases Funding From $50 Million to $100 Million
The Hong Kong Government is increasing the 5G subsidy scheme funding to encourage the early deployment of 5G. Applications for the subsidy scheme will close on 31 July 2022.
An additional 100 projects are expected to benefit from this subsidy scheme. The Subsidy Scheme for Encouraging Early Deployment of 5G falls under the Anti-Epidemic Fund. The fund will subsidize 50% of the costs that are relevant to deploying 5G technology. The cap will be at $500,000.
The project was initially launched in May 2020. Since then, 103 applications have been approved, spanning across various sectors. Among the sectors that have been successful in their applications include remote telemedicine, mechanical maintenance, 4K/8K live video broadcasting, and 3D building information modeling in construction.
The 5G subsidy scheme funding recognizes the enormous potential of 5G technology in terms of helping businesses develop their services. High speed, high capacity, low latency, and massive connectivity are just some of the many benefits provided by 5G.
The Hong Kong government plans to continue its efforts in terms of promoting the development of 5G.
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