CE accepts Innovation & Technology Commission's recommendations

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The Government announced today (Friday) that, on the advice of the Executive Council, the Chief Executive has accepted the recommendations made by the Chief Executive's Commission on Innovation and Technology in its Second and Final Report.

The Secretary for Trade and Industry, Mr CHAU Tak Hay said, "Having considered the Report's recommendations very carefully, the Government has decided to accept them all."

Mr CHAU highlighted the following major recommendations of the Report:-

* to establish a standing advisory body reporting to the Chief Executive and an inter-bureau policy group headed by the Financial Secretary;

* to merge the Hong Kong Science Park, the Hong Kong Industrial Technology Centre Corporation and the Hong Kong Industrial Estates Corporation;

* to relax immigration restrictions to enable talents from the Mainland to work in Hong Kong; and

* to foster an innovation and technology culture through the expansion of the existing incubation programme and the provision of matching funds for technological ventures undertaken by entrepreneurs.

In view of the acceptance of the recommendation to expand the incubator programme through a distributed model, the Government has also decided to withdraw the plan to build a second Industrial Technology Centre.

Mr CHAU said, "The Government is deeply grateful to the Commission for making the very useful recommendations in the Report. Together with the earlier recommendations in its First Report, the Commission has outlined the measures and steps required to facilitate the realisation of our vision of turning Hong Kong into an innovation and technology centre. The implementation of these recommendations should help improve Hong Kong's capability to develop into a knowledge-driven and technology intensive economy, and help strengthen our long-term competitiveness."

Mr CHAU added that as the recommendations of the Report had outlined the major principles and framework only, the Government would start working out the details for implementing them.

The Commission was appointed by the Chief Executive in March 1998 to advise him on the measures necessary to fulfil the vision of making Hong Kong an innovation centre for South China and the region.

It completed the first phase of its work and submitted its First Report to the Chief Executive in September 1998. The Government has accepted the recommendations of the First Report and is following up on their implementation. For example, the Government established the $5 billion Innovation and Technology Fund in June 1999. It is also working out the planning parameters for the establishment of an Applied Science and Technology Research Institute.

The Commission finished the final phase of its work and submitted its Second and Final Report to the Chief Executive at the end of June 1999.

End/Friday, September 3, 1999

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