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Following is a speech by the Secretary for Commerce, Industry and Technology, Mr John Tsang, at the official completion of Hong Kong Science Park Phase One

and the opening of the Bio-Informatics Centre today (October 29):

Victor, C D, Distinguished Guests, Ladies and Gentlemen,

I am pleased to be here this morning to celebrate the completion of Science Park Phase One and opening of the Bio-Informatics Centre.

Today is an important day in the history of the development of Hong Kong's Science Park. In a short span of two years, we have progressed from the opening of three individual buildings in June, 2002, to the completion of a cluster of 10 buildings in the Phase One development of Science Park. Phase One provides a total lettable space of some 1 million square feet in this magnificent environment, tailored specifically to meet the requirements of companies engaged in the four clusters of Electronics, Biotechnology, Precision Engineering and Information Technology and Telecommunications.

The Science Park has now attracted a cluster of some 70 local and overseas enterprises engaged in applied research and development, new product development and design. Together they plan to invest some $2.5 billion during the first three years of operation. Among these enterprises, some have even chosen to base their regional headquarters in the Science Park. These innovative enterprises are beginning to bring a new impetus for Hong Kong's industrial and technology development, increasing the potential to transform innovative R&D into business opportunities, and enhancing Hong Kong's position as a regional innovation and technology hub.

The Science Park is a clear testament to the Government's commitment to promote innovation and technology and our resolve to advance technology initiatives in a sustainable manner. Apart from quality premises, the Science Park delivers advanced facilities and support services to nurture innovation and technology development. The integrated circuit (IC) design and development support centre, photonics development support centre and product analysis laboratory which opened last December provide value-added services which help reduce the users' development costs and cycle time.

The Bio-Informatics Centre which opens today will facilitate support for the biotechnology sector. It will also facilitate co-operation and collaboration in research and development among industry players, universities and research institutions in this very important science-based sector. The centre will help synergise existing strengths and infrastructural support in biotechnology and open up new opportunities for Hong Kong's biotechnology industry.

With Science Park's unique advantages in providing a state-of-the-art "hard" infrastructure of technical facilities, a progressive "soft" infrastructure of support services, and its ease of access to the manufacturing centres in the Pearl River Delta, we are confident that the Science Park will continue to attract both local and multinational innovative enterprises. The Science Park will continue to offer advanced yet practical support to enable enterprises to pursue their research and development initiatives and business opportunities.

Ladies and gentlemen, innovation and technology are the key drivers of a knowledge-based economy in the 21st century. We shall strive to continuously enhance Hong Kong's competitiveness and develop our city into an innovation and technology hub for the region, and to promote the use of innovation, technology and design to help Hong Kong industries move up the value chain. The completion of Science Park Phase One is a landmark signifying our commitment and drive towards the future.

Thank you.

Ends/Friday, October 29, 2004

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