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Hong Kong's Information and Communications Technology (ICT) industry is one of the most advanced in the world, and it stands to gain while China is becoming the New Silicon Valley, according to President of the Hong Kong Information Technology Federation, Mr Francis Fong today (October 24, Montreal time).
Speaking in Montreal at a business luncheon organised by the Hong Kong Economic and Trade Office (HKETO) in Canada in collaboration with the Montreal section of the Hong Kong-Canada Business Association, Mr Fong said that Hong Kong's ICT industry owed its success to innovation and technology, which had also given impetus to economic development and enhanced Hong Kong's competitiveness. "Our ICT industry is now No. 1 in Asia," he said. "We are 7th in the world in the digital economy ranking."
The luncheon seminar was supported by the Quebec Ministry of Economic Development and Montreal International.
"Telecommunications is the core part of Hong Kong's ICT industry," Mr Fong said. "It is fully liberalised with no foreign ownership restriction. Hong Kong provides a ubiquitous mobile service with 16 licensed companies and 14.9 million subscribers which is one of the highest penetration rates in the world (210%)."
Hong Kong is also the regional leader in software development with software sales estimated at HK$7.8 billion (CAD$1 billion) in 2010 (25% of ICT revenues). Its Internet business activities contributed HK$100 billion (CAD$13 billion) to the economy, which is on par with many advanced European economies.
"It is expected that Hong Kong's internet economy will increase by 5.9% annually, which would likely be faster than the overall growth of Hong Kong economy," Mr Fong added. Meanwhile, China, with 457 million internet users, is the worldˇ¦s largest Internet market.
He said that Hong Kong is poised to gain because Hong Kong has world-class ICT infrastructures, a well-educated talent pool dedicated to innovation and technology pursuit, and its IT service providers are famous for technical competency and flexibility. "Most importantly, Hong Kong is located right next to the Pearl River Delta where 28% of China's high-tech production takes place," said Mr Fong.
Another speaker at the lunch seminar, the Deputy Government Chief Information Officer of the Hong Kong SAR Government, Miss Joey Lam, also stressed that Hong Kong is well-positioned as a hub for technological cooperation and trade.
"Hong Kong is a city of opportunity," said Miss Lam. "According to a Google survey, the ICT sector, an important part of Hong Kong's economy, had contributed CAD$12 billion to Hong Kong in 2009. Forecast shows it will reach CAD$18 billion by 2015."
"Hong Kong is the gateway and preferential base for overseas technology providers, particularly the innovative Canadian companies, to tap into the increasingly accessible Mainland markets which has become one of the biggest IT markets in the world," Miss Lam added.
Meanwhile, a Hong Kong technological product, EasyHear, scooped the Chairman's Award in the World Information Technology Services Alliance Global ICT Excellent Awards 2012 at the World Congress on Information Technology in Montreal on October 23. EasyHear, a digital hearing aid, was developed by Logital Company Limited.
"It is encouraging to see Hong Kong's ICT industry winning such acclaim worldwide and, in turn, raising the profile of Hong Kong as a hub for innovation and technology," said Mr Peter Kwok, Deputy Director of HKETO. "There are great business opportunities for Canadian companies in the growing ICT sector in Hong Kong and the mainland."
Ends/Thursday, October 25, 2012
Issued at HKT 08:54
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