Globavend receives government non-dilutive grant funding approval

Globavend (GVH) Holdings has received approval-in-principle from a Hong Kong government administered business development grant. If approved, eligible companies may receive up to $900,000 non-dilutive grant funding and would be deemed irrevocably earned with no repayment obligations. The approval-in-principle was given by the Dedicated Fund on Branding, Upgrading and Domestic Sales, from the Government of Hong Kong, which was set up to support local businesses in scaling up their operations, modernizing infrastructure, and expanding into new markets. This funding program is to assist Hong Kong enterprise to capture the opportunities arising from China’s 12th Five-Year Plan. The Hong Kong Government has injected approximately $770M into the BUD Fund.