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Following is a speech by the Secretary for Commerce, Industry and Technology, Mr Joseph W P Wong, at the Topping-out Ceremony of Science Park Phase Two today (August 16):
Victor, Nick, Carlos, Ladies and Gentlemen,
I am very pleased to join you all this morning on this happy occasion. Today's topping-out ceremony of the Science Park Phase Two marks the achievement of another major milestone in the development of Hong Kong's technology infrastructure.
The HKSAR Government firmly believes that we should play a proactive role to promote applied research and development (R&D) as our economy continues to grow and move up the value chain. We provide financial support through the $5 billion Innovation and Technology Fund to encourage more applied R&D activities by research institutes and the industry. About half of the fund, or $2.3 billion has been set aside to establish and finance the operation of new R&D centres in five areas, which are automotive parts and accessory systems; information and communication; logistics and supply chain management; nanotechnology and advanced materials; as well as textiles and industry. These five centres have commenced operation and will soon embark on their first batch of research projects.
The Government also promotes applied R&D through the provision of dedicated infrastructure, with the Hong Kong Science Park being our flagship project. Here, a total of 22 hectares of land has been reserved for development in three phases so that technology-based firms can carry out applied R&D, new product development and design work. Tenant companies are selected on the basis that they will bring into the Science Park new investments in physical and human capital to nurture Hong Kong's R&D capacity. In return, these tenants, as well as start-up companies under the Science Park's incubation programme, will benefit from various state-of-the art facilities at competitive prices.
At 90% occupancy, Phase One of the Science Park, costing $2.9 billion with a total lettable floor space of 84,000 square metres, has been taken up by some 130 local, Mainland and overseas companies in the four clusters of Electronics, Biotechnology, Precision Engineering, and Information Technology and Telecommunications. In cumulative terms, these companies have created more than 1,700 new jobs, of which 85% are R&D related, and invested some $4.7 billion in their first three years of operation.
Today, we witness here the ushering in of the next stage of Science Park development - the topping out of Phase Two. 78,000 square metres of lettable space will be coming on stream starting from early 2007. When fully commissioned in 2008, Phase Two will comprise two dedicated laboratory buildings, six R&D office buildings, two energy towers, plus a world-class auditorium, landscaped open space, lakeside amenity areas and a beautiful promenade along the Tolo Harbour. This development will integrate with Phase One and enlarge Hong Kong's strategic base for innovation and creativity.
I take this opportunity to thank the three contractors of the Phase Two construction programme for your hard work, and look to you to deliver this $3 billion project on time and within budget.
With the construction programme charging in full steam, the challenge for the Board of Directors of the Science Park is to sustain the momentum of attracting the best enterprises and talent, both local and outside Hong Kong, to move into the new and expanded areas. I have full confidence that under Victor's leadership and Carlos' management, the Science Park directors and staff will accomplish this task which will do Hong Kong and the Science Park pride, and will enlarge the network of Science Park tenants. I am also convinced that our enlarged pool of Science Park enterprises and entrepreneurs will develop strategic alliances with R&D institutes, and commercial and industrial operations throughout the Pearl River Delta, with regional as well as international linkages to business opportunities.
The Hong Kong Science Park is an important testament to the Government's commitment to promote innovation and technology development as the growth engine of our knowledge-based economy in the 21st century. I am sure it will continue to grow and develop as our economy continues to move along its technology path.
Thank you.
Ends/Wednesday, August 16, 2006
Issued at HKT 11:18
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