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World-class infrastructure vital for economy
Hong Kong needs a world-class infrastructure in order to take the fullest advantage of the special opportunities which rapid Asian and Chinese economic growth will bring, the Financial Secretary, Mr Donald Tsang, said.
Hong Kong must equip itself with the skills and technological know-how to compete in the international market place, Mr Tsang added.
"But we must also develop our physical infrastructure the railway, the port, the airport and the support services.
"Investments in our skills and our physical infrastructure make a very real contribution to our competitiveness," he said.
Hong Kong was moving forward with planning for the three rail links recommended in the Railway Development Strategy and the Government would allocate $15 million in 1996-97 to provide additional staff resources to the Transport Branch and related departments to handle the appraisal and planning work involved.
Mr Tsang said that since nearly 90 per cent of Hong Kong's total trade went through the port, and demand was forecast to rise steadily, more container terminals would continue to be built to meet this higher demand.
"We shall need to have in place not only CT9 but also CT10 and the first berths of CT11 before the century is out," he said, adding that Hong Kong also must ensure that its airport was able to handle efficiently the increasing flow of passengers and goods in and out of Hong Kong by air.
He noted that Hong Kong was on track to achieve the target opening date of April 1998 for the new airport at Chek Lap Kok and the Airport Authority, in conjunction with the Government, was looking further into the future and examining air traffic forecasts to determine the timing for developing the second runway at Chek Lap Kok.
These investments in the physical infrastructure, once completed, would make a contribution to every service and product that was sold. Mr Tsang said.
"The same is true of our telecommunications and other support services.