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As the world was becoming more competitive amid globalisation, Hong Kong must broaden its economic base in order to maintain its strength, including actively developing more high-value-added industries, Commissioner for Innovation and Technology, Miss Janet Wong, said today (June 3).
Speaking at the inauguration of the Hong Kong Biotechnology Organization, Miss Wong said that the Government had identified innovation and technology as one of the six industries with good potential and biotechnology was an upcoming high-value-added industry with tremendous potential.
She noted that biotechnology had gained much ground over the past decade, with advances such as the completion of the human genome mapping project, the development of biologics and stem cells - all of which not only helped boost personalised medical treatment, but also demonstrated the tremendous potential of biotechnology in opening up business opportunities.
Miss Wong said, "While turning experimental results of biotechnology into business products may yield high returns, it would take a long span of time, huge amount of resources and, for some products, may even need to get past strict regulatory approval before they can be put onto the market.
"As a matter of fact, we see the quiet growth of the biotechnology industry in Hong Kong over the last few years, as testified by the steadily growing number of biotechnology companies in the Science Park, including local university spin-offs, and well known companies in the Asia-Pacific region."
The Government has recently approved funding for the development of Phase 3 of the Science Park and work will begin next year. Biotechnology is one of the five focused technology clusters in the Science Park. The others clusters are electronics, information technology and telecommunications, precision engineering, and green technology.
"Another sound proof is the founding of the Hong Kong Biotechnology Organization, which marks the continuous support and contribution of academics, entrepreneurs, investors and people in the relevant sectors who share the common goal of developing biotechnology locally," Miss Wong added.
Miss Wong said she looked forward to closer cooperation between the Innovation and Technology Commission and the Association to help the growth of the biotechnology sector in Hong Kong.
Ends/Thursday, June 3, 2010
Issued at HKT 18:43
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