Hong Kong authorities will set key performance indicators (KPIs) for the government-owned company set up to drive the development of the San Tin Technopole and grant its subsidiaries greater flexibility to meet enterprises’ needs.
Advertisement
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.
The government unveiled a day earlier the 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 on Friday.
Advertisement
The financing options for the technopole would include leasing government-funded buildings and laboratories and adopting a public-private investment and partnership model, according to Choi.
He said the subsidiary firms, which would not be solely owned by the government, could enjoy greater flexibility in catering to businesses’ needs, speeding up development.