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Maximum support for manufacturing industry
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The Government will provide maximum support for Hong Kong's manufacturing industry to, move into higher technology, higher value-added production which is the key to sustaining its international competitiveness.
In her keynote speech at the "Symposium on The Hong Kong Science Park" today (Thursday), the Director-General of Industry, Mrs Regina Ip, said the Government helped the manufacturing industry move up the technology ladder mainly through the nurturing of indigenous, technology-based businesses, promoting technology transfer and regional co-operation.
"In recent years, we have provided additional incentives for local industry support organisations and companies to undertake more applied R&D, either on their own or in collaboration with researchers in China, through the introduction of the Industrial Support Fund, the Applied R&D Scheme and the Co-operative Applied R and D Scheme," she said.
Mrs Ip said a science park would have a decisive role to play in the further development of Hong Kong's manufacturing industry.
A science park in Hong Kong would contribute enormously towards helping the manufacturing sector to leapfrog in technological development by bringing together multinationals, technology-based firms from China and local enterprises with technological competence in particular niches, she said.
Public consultation on a consultancy study on the setting up of a science park in Hong Kong will complete by end-December 1995.
Commenting on the outflow of lower-skilled, lower value-added manufacturing processes to lower cost regions, Mrs Ip said Hong Kong was part of a world-wide trend of globalisation of production.
However, she stressed that there was no question of the "hollowing-out" of the manufacturing industry, as manufacturers continue to undertake most functions of a manufacturing process other than actual assembly in Hong Kong.