In an interview on Thursday, InvestHK Director-General Alpha Lau Hai-suen said the interested enterprises included those from South Korea and Europe, as well as one from the Middle East with a mainland Chinese capital background.

“The firms in discussion [with the authorities to establish operations] are diverse in sectors, spanning large-scale pharmaceutical enterprises, the automotive supply chain, and even companies involved in satellite technology,” she said on the sidelines of the China International Import Expo in Shanghai.

She said some enterprises had initially raised concerns about Hong Kong’s insufficient land supply, but she noted the Northern Metropolis was highly favourable for industrial development.

The megaproject aims to develop 30,000 hectares (74,132 acres) into an economic growth engine and housing hub in the northern New Territories.

Lau also highlighted Hong Kong’s potential to help international enterprises “go global” and assist them in entering the mainland market.