INFRASTRUCTURE PROJECTS
specialising in the application of advanced information technology to support the growing needs of Hong Kong's vast range of businesses and industries.
Located at Telegraph Bay, on the western side of Hong Kong Island, the Cyberport will be completed in three stages by end-2001 or early 2002, through end-2002 to end-2003. Infrastructural works, which commenced in September, are making good. progress. Building works will commence by mid-2000.
In addition to the Cyberport project, the first phase of the Science Park now under construction in Tai Po will further enhance Hong Kong's technological infrastructure. The first phase is expected to open in 2001.
Tourism Development
After nine months of intensive negotiation, the Government and The Walt Disney Company reached agreement to build a Disney theme park and resort in Hong Kong. The Chief Executive announced on November 2 that the two parties will form a joint venture to build and operate Hong Kong Disneyland which will be located at Penny's Bay, in north-eastern Lantau Island.
Hong Kong Disneyland will occupy an area of 126 hectares initially and may be expanded to some 180 hectares. Upon opening, it will comprise a Disney theme park, a 1 400-room resort hotel complex and a retail, dining and entertainment centre.
Hong Kong Disneyland, which is targeted to open in 2005, will be a major recreation outlet and destination for Hong Kong families and overseas visitors. It will also strengthen Hong Kong's position as a premier tourist destination with outstanding attractions.
Port Development
Hong Kong, the world's busiest container port, handled 16.2 million 20-foot equivalent units (TEUs) of containers in 1999. This represents an increase of some 11.2 per cent over 1998.
Handling this container cargo and many other cargoes which come and go by means other than containers - added significantly to Hong Kong's economy. Studies by the Census and Statistics Department and the Planning Department have indicated that port-related industrial and commercial enterprises contribute some 20 per cent towards Hong Kong's Gross Domestic Product and account for one fifth of its workforce. Hence, matching supply of port facilities with demand will ensure economic growth and optimise employment opportunities for the community. Growth forecasts are, therefore, important. Major reviews of the Port Cargo Forecasts are carried out at regular intervals to ensure that these forecasts, which span up to 20 years ahead, are as accurate and up-to-date as possible.
The latest forecast, published in February 1998, predicted that by 2016 there would be a demand for Hong Kong to handle 33 million TEUS a year. This is equivalent to handling one container box every second, 24 hours a day. The actual growth in the throughput of the port in the coming few years will be closely monitored before a decision is made on the timing for the provision of new facilities.
The container port is vital, not only for Hong Kong, but also for southern China — one of the fastest industrialising areas in the world. Some 76 per cent of cargo passing through Hong Kong is entrepôt trade with southern China. Despite the upgrading of
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