Hong Kong authorities will set key performance indicators (KPIs) for a planned government-owned company intended to drive the development of the San Tin Technopole and grant its subsidiaries greater flexibility to meet enterprises’ needs.
Kevin Choi Kit-ming, permanent secretary for innovation, technology and industry, also said on Friday that a strategically reserved “white space” in one part of the technopole could support its future expansion and support the development of the city’s university town, as part of the Northern Metropolis megaproject.
A day earlier, the government unveiled a five-phase development plan for the San Tin Technopole, which is expected to provide over 300,000 full-time jobs and generate at least HK$250 billion (US$32 billion) for Hong Kong’s economy annually when fully operational.
Authorities are considering setting up a dedicated, wholly government-owned company with subsidiary firms to tap into market resources and capital to accelerate the project and optimise costs.
“To achieve the government-led principle, we will certainly consider setting KPIs for the company. We will also consider the investment model and its amount, but it is still at a preliminary stage,” Choi told a radio programme.
Financing options for the technopole would include leasing government-funded buildings and laboratories and adopting a public-private investment and partnership model, he said.
Comments are closed.