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Following is the speech by the Chief Executive, Mr Tung Chee Hwa, at the inauguration ceremony of the Institute of NanoMaterials and NanoTechnology at the Hong Kong University of Science and Technology this afternoon (September 5):
Prof Chu, Prof Chan, Ladies and Gentlemen,
It gives me great pleasure to be here today officiating at the Inauguration Ceremony of the Institute of NanoMaterials and NanoTechnology at the Hong Kong University of Science and Technology.
Hong Kong is going through difficult and challenging times. The Asian financial crisis, the bursting of the asset bubble, and the rapid and successful development of the Mainland economy have forced us to restructure our economy. Hong Kong must reposition itself and move up the value chain in order to revitalise the economy, succeed in global competition, and create new wealth for Hong Kong people.
Innovation and technology holds the key to the success of our economic restructuring and to the future of Hong Kong. The objective in promoting innovation and technology has been very clear from the beginning. It is to use science and technology to enhance the innovative capacity of Hong Kong; to create knowledge-based, high value-added activities; and to strengthen the competitiveness of our business. The use of science and technology will also give individuals in Hong Kong, with the acquisition of new knowledge, new opportunities to enhance themselves and improve their livelihood.
To help the transformation of our society to a knowledge-based society, our fundamental investment is in education. Annual government expenditure in education has been increased from $38 billion in 1997 to $61 billion this year. In the meantime, we have been doing a great deal in promoting innovation and technology. We have created a $5 billion Innovation and Technology Fund, and have already supported more than 400 projects at a total funding of $1.2 billion. We have strengthened the technology incubation programme to facilitate the growth of technology start-ups; more than 80 start-ups are already enjoying the services provided under the programme and another 20 start-ups will soon join the programme. We have established the Applied Science and Technology Research Institute. We have developed the Science Park and Cyberport. With these efforts, we are helping to transform the research capability and expertise available in Hong Kong into new technologies and products, for commercialisation and technology upgrading of our industries.
I am pleased that these investments are beginning to bear fruit. With the building up of a respectable science base in Hong Kong, we have been able to draw eminent and world-class scientists and researchers from all over the world to come, or come back, to Hong Kong. They of course include Professor Paul Chu, whom you all know, and Professor Lap-chee Tsui at the University of Hong Kong, and of course, you know, Dr David Ho who is a leading AIDS researcher and moving some of his research back to the Faculty of Medicine in the University of Hong Kong.
Our investment in innovation and technology infrastructure projects has to date attracted more than 40 companies into the Science Park from all over the world. They will create 2,500 direct employment opportunities. Together they will bring us total new investments at about $1.7 billion. Our Cyberport also succeeds in building up a cluster of some very well known global players in the innovation and technology industry including Microsoft, Sybase and PCCW. Innovation and technology does not only benefit businesses and IT professionals, it is also essential to the well-being of our society. Our universities and biomedicine researchers were among the first in the world to track down the culprit of SARS and have earned the accolades of the WHO and the international community for their contributions to the global fight against this epidemic. I believe it has a lot to do with our shared vision, our commitment and the investment we have made over the last several years in promoting innovation and technology and supporting scientific research. Having said that, I want to tell you Paul Chu will say to me the amount is not enough.
Our strategy in promoting innovation and technology is to identify and focus on those areas where Hong Kong has a comparative advantage. Together with information technology, IC design and biotechnology, nanotechnology has been identified as one of the core areas where Hong Kong has competitive advantage and good potential. The advantage we have in nanotechnology is that Hong Kong has some of the most distinguished scientists and researchers in this field in our universities. Nanotechnology is still at its early stage of development in the scientific world. I am encouraged that we have already seen some new products developed from this technology in Hong Kong: paints and air filters with self-cleaning capability, nano-apparel products. This is only the beginning in applying nanotechnology to our daily lives, and we have yet to explore the full potential of nanotechnology. If we can gain a headstart, there is a great potential for Hong Kong to be a key player in this emerging technology and create new opportunities for our business and industry. And, of course, Paul is absolutely right, with the CEPA agreement and zero tariffs into the Mainland, it will give our industry an added advantage.
The opening of the Institute of NanoMaterials and NanoTechnology today marks another milestone in the Government's commitment to promoting innovation and technology. The establishment of the Institute, one of the largest projects ever funded by the Innovation and Technology Fund, is aimed at giving Hong Kong a headstart in this emerging new science, provide a focus point for our nanotechnology scientists and researchers to cluster, and facilitate co-operation and collaboration between the universities and industry. Before closing, I wish to thank the Hong Kong University of Science and Technology, Professor Paul Chu in particular for championing this project, and everyone who has been involved and worked hard to bring this project to fruition. I wish the Institute and our scientists and researchers great success and continued breakthroughs in their future endeavours.
Thank you.
End/Friday, September 5, 2003
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