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A Government spokesman reminds the public today (June 30) that the reorganisation of the Trade and Industry Bureau and some of its supporting departments, which the Financial Secretary announced in his 2000-01 Budget Speech, will take effect on July 1, 2000 as scheduled.

The Government spokesman explained that the objective of the reorganisation is to establish the right institutional framework to advance major initiatives for promoting innovation and technology, attracting external direct investment, and supporting industry and commerce. The following changes will be implemented.

The role of the Bureau will be enhanced. Apart from trade and industry, the Bureau will take up responsibility for commerce in general, reflecting its concerns and advocating its interests within the Government. The English name of the Bureau will be changed to 'Commerce and Industry Bureau' to better reflect its expanded remit and commitment to providing quality support and services to industry and commerce.

An Innovation and Technology Commission will be established within the Commerce and Industry Bureau to take charge of policy on innovation and technology as well as manage Government's programmes on a day-to-day basis. It will take over the functions of Industry Department in this area.

To implement a more proactive investment promotion strategy, a dedicated Government agency named 'Invest Hong Kong' will be set up to spearhead government efforts on inward investment promotion. It will take over the functions of the existing investment promotion unit in Industry Department.

The Business and Services Promotion Unit now under the Financial Secretary's Office will be integrated into the Bureau. This unit is responsible for managing two important initiatives. The Services Promotion Programme aims to enhance support for service industries so that they can remain competitive in an increasingly demanding environment. The Helping Business Programme seeks to deregulate, cut red tape, reduce the cost of compliance and introduce new or improved services in the Government.

To enable the Bureau to devote more efforts to the tasks mentioned above, its current responsibilities for consumer protection, competition policy and regulation of outbound travel agents will be transferred to the Economic Services Bureau.

Apart from the changes in responsibilities of the Bureau, the Trade Department will be expanded. It will take over the functions of Industry Department in respect of general support for the industrial sector and small and medium-sized enterprises. The department will be renamed 'Trade and Industry Department'. The Industry Department will be disestablished.

The Government spokesman said that the Government is determined to sustain the competitiveness of Hong Kong and develop Hong Kong into a premier international trade, business and innovation and technology centre. The reorganisation is to help achieve this policy objective. Members of the public are invited to visit the Bureau's website (http://www.info.gov.hk/cib/) for details about its new organisational structure and functions.

End/Friday, June 30, 2000

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