May 2026 Newsletter

 

Welcome to the May edition of the Irish Chamber of Commerce Hong Kong newsletter. In this issue, we bring you the latest updates, insights, and news. You’ll find everything you need to stay informed and connected, from upcoming events and member highlights to industry trends and networking opportunities.



If you are an Irish company ready to expand into Hong Kong, China now is the time to act! Contact us to discover how we can help you unlock opportunities and accelerate your growth in the market. Email:   info@irishchamber.hk

Being part of the Irish Chamber of Commerce Hong Kong comes with plenty of everyday perks, from discounted fares and extra baggage with Turkish Airlines to access to group medical cover through INLE Risk Management and insurance savings with Lifestyle Insurance.

 

Members also enjoy preferential wholesale pricing on first‑time gold and silver purchases with Precious Metals Asia, preferential FX rates with Airwallex on up to HK$100,000 fee‑free (terms apply), and a little e‑VIP pampering at Kildare Village.

If your membership is due for renewal or if you are thinking of joining, check out our website for details.

 

A quick look at business news that you may have missed:

 

 

Ireland’s services sector has contracted for the first time in five years, according to Purchasing Managers’ Index data, marking a notable shift after a long expansion streak. The 12‑month outlook remains positive but subdued, sitting only slightly above a 65‑month low reached in March, suggesting businesses are more cautious about the near‑term environment. This shows how services firms are reacting to global uncertainty and domestic cost pressures. Read more here.

 

 

 

Irish goods exports to the US dipped in March, falling 82% as tariff-related volatility continued to hit trade figures. Central Statistics Office data show the value of exports dropped from €25.5 billion in March 2025 to €4.5 billion this March. The sharp decline reflects the unwinding of last year’s tariff-driven surge, when firms stockpiled products in the US. Overall goods exports fell 51% to €18.3 billion, down €19.3 billion year-on-year.Source

 

 

Wrapping up this roundup on a brighter note: Hong Kong’s economy grew 5.9% year-on-year in Q1, supported by stronger exports and private consumption, according to the HKSAR Government. The administration also held its 2026 GDP forecast at 2.5%–3.5% and updated its inflation outlook for the year.

 

With momentum building, Hong Kong appears to be in a healthy expansion phase which is great news for Irish exporters and consumer-facing businesses, including retail, food & beverage, and tourism-linked enterprises. Source

 

 

As a reminder, there are many incentives to Irish businesses looking to expand overseas. Hong Kong is attractive for Irish businesses for practical reasons including a low, predictable tax system with profits generally taxed only if sourced in Hong Kong, corporate profits tax capped at 16.5%, and no VAT or sales tax or withholding on dividends). A big plus is the ability to set up a company in days and without faff.

 

Other advantages include easy access to Mainland China, free capital movement, no foreign exchange controls, excellent logistics and common-law legal system. There is a plethora of talent and support schemes for growth in priority sectors.

 

Contact us or our friends over at InvestHK for more information.

 

 

Talking of doing business in Hong Kong, this year is shaping up to be something special. We’ve had a sneak preview of the Asia Pacific Irish Business Forum 2026 line‑up for November and it’s a dynamic, two‑day programme packed with ideas, connections and plenty of energy.

 

While the plans are still being made, discussions are underway with various chambers of commerce and business groups in Ireland as well to both promote this event to their members and to also encourage participation. Stay tuned! If you’d like to get involved, please reach out to info@irishchamber.hk

 

 

 

 

 

 

Exciting news this month: Stephen Browne, our very own director of technology and fintech, is also the CEO of Sorted (an Irish-founded, Hong Kong-based stablecoin wallet infrastructure startup) which raised US$4.4 million! The funding round was led by Tether, with participation from Gnosis and other investors. The Sorted app has been downloaded 500,000 times across 160 countries, and provides a crypto wallet designed for financial inclusion on constrained devices.



The new funding will help Sorted expand carrier partnerships and accelerate growth across Africa and South Asia. Well done, Stephen & Team! Read more on the Sorted LinkedIn page.

 

President Padraig visited Ireland this month to meet with Irish chambers of commerce and associations and attend networking events.

 

Save the date for our regular inter-chamber networking event, where you can discover new business opportunities and connect with members from the American, Austrian, British, Canadian, Finnish, French, German, Italian, Irish, Korean, Dutch, Spanish and other chambers. This regular event attracts 200+ chamber members and is an excellent opportunity to catch up and forge new connections.

 

 

Pacific Prime (Insurance Brokers) is co-hosting an event on 11 June 2026 focused on practical, real-world guidance and including life insurance basics and how to top up existing employee/company group coverage. Look out for the email soon to land in your inbox with more details.

 

 

Airwallex, a leading global financial platform for modern businesses and the Irish Chamber of Commerce Hong Kong together with our friends at the German and Italian chambers for a joint event in early July. More details in next month’s newsletter. Airwallex is a sponsor of the Irish Chamber of Commerce Hong Kong.



 

Back in Ireland, and apart from rugby and GAA, this month sees Irish amateur golf takes centre stage, with events such as the Flogas Irish Girls’ Amateur Open at Corrstown, the Munster Men’s Amateur Open at Cork Golf Club, and women’s and senior men’s championships at Newlands, Castlerock and Co Louth all acting as proving grounds for future Irish stars.

 

 

Beyond the fairways, the All‑Ireland Schools Track & Field Championships in Tullamore and national rally events like the Killarney International Rally of the Lakes and Circuit of Munster are all taking place. Source.

 

 

Roll on November for the largest celebration of Gaelic games in Asia! We did some sleuthing and found out about the origins of the Asian Gaelic Games (AGG). Dating back to 1996, the AGG’s founding group included Mark Bird, Frank Boland, Derek Brady, Brian Cummings, Enda Cunnane, Dave Healy, Noel Lennon, Kieran Pollard, and John Roberts although there were many other people who helped. Through their efforts, perseverance, and commitment, the inaugural Asian Gaelic Games took place in Manila.

 

 

Tragically, Derek Brady, a young Irishman from County Meath, died following a car accident in Taiwan and it’s in his name that the AGG’s Derek Brady Memorial Trophy was named.

 

 

If you want to read more about the AGG origins, check out this article which includes many photos of people involved, players and supporters.

 

 

In our January newsletter, we highlighted Mark O’Neill’s new book, The Irish in Hong Kong. Now you can meet Mark in person on 27 May 2026, thanks to The Royal Geographical Society – Hong Kong, where he will share insights into Ireland’s enduring contribution to Hong Kong.

 

From governance and law enforcement to finance, the military, and public administration, Mark explores the Irish presence in senior leadership roles and also looks at the lasting impact of Irish religious and community figures in establishing schools, hospitals, and welfare institutions, alongside Irish achievements in sport - including Olympian Siobhan Haughey - and lesser-known stories.



For more information, see hereand click here to register.

The Irish Chamber of Commerce Hong Kong is proud to be supported by Airwallex, AMT, Atelier Bouclier, Boase Cohen & Collins, Crown Worldwide Group, Enterprise Ireland, the Government of Ireland’s Emigrant Support Programme, InvestHK, Kildare Village, LynxCap Investments, Precious Metals Asia, Sors, The Beat Hong Kong and The Hong Kong Corporate Services Group. Check out the Irish Chamber of Commerce HK website for member offers from our sponsors.

 

The Irish Chamber of Commerce Hong Kong supports Irish businesses and professionals and provides a trusted platform for connection, collaboration, and knowledge-sharing. While deepening commercial and cultural ties between Ireland and Hong Kong, we also welcome the opportunity to help new and existing members to find new opportunities, forge meaningful partnerships, and navigate the dynamic landscape of business in Hong Kong. Contact us at info@irishchamber.hk or find us on LinkedIn.

The Irish Chamber of Commerce Hong Kong is proud to be supported by Airwallex, AMT, Atelier Bouclier, Boase Cohen & Collins, Crown Worldwide Group, Enterprise Ireland, the Government of Ireland’s Emigrant Support Programme, InvestHK, Kildare Village, LynxCap Investments, Precious Metals Asia, Sors, The Beat Hong Kong and The Hong Kong Corporate Services Group. Check out the Irish Chamber of Commerce HK website for member offers from our sponsors.

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