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Following is the speech by the Chief Executive, Mr Donald Tsang, at the Hong Kong Management Association 50th Anniversary Dinner in Tsim Sha Tsui this evening (September 13):
David (Li), distinguished guests from Hong Kong and overseas, ladies and gentlemen,
It is a great pleasure to join you to celebrate the 50th Anniversary of the Hong Kong Management Association.
I am also pleased that your Golden Jubilee coincides with the HKMA's hosting of a major regional management conference this week.
A warm welcome to our friends from overseas who will be attending the conference. I wish you all a very enjoyable stay in Hong Kong.
From day one, the Hong Kong Government has been a staunch supporter of the HKMA. Its work in promoting life-long learning has helped to keep our workforce extremely competitive in the face of intense competition and rapid economic development.
Our economy never stands still. It has continued to evolve towards high-value added activities over the past decades. Much of this is motivated by the exercise of Hong Kong's comparative advantage in legal, financial, social, commercial and technological infrastructures. In recent years, following the eruption of two major financial crises, we have been reviewing our competitive position in relation to our strengths and our weaknesses, and we have done it more critically. We have decided that the upgrading of our management and skill pool is essential. In this regard, favourable government policy and resources towards innovation and technology emerges as a key factor.
Innovation and technology is one of the six industries we identified last year where Hong Kong already enjoys a competitive edge. Development of this sector is a priority for our sustainable economic growth.
Our Innovation and Technology Fund finances projects that contribute to the upgrading of our industries. So far, we have approved more than 2,000 projects with total funding of more than $5 billion.
We have also made it our goal to instil a research culture among local enterprises. In April, we launched the Research and Development Cash Rebate Scheme to encourage firms to establish long-term partnerships with local research institutions.
In just the first five months of the Scheme, we approved 75 applications involving a total of $1.4 million. Total funding of $200 million has been set-aside for the Scheme. I encourage all our managers to see how the R&D Cash Rebate Scheme can benefit their businesses.
We have also announced the development of Phase 3 of the Hong Kong Science Park. This will enable more local and overseas firms to enjoy the benefits of clustering innovation and technology-related enterprises.
State-of-the-art facilities combined with a deep pool of expertise have proven to be an attractive combination for companies based at Science Park.
Innovation and technology is also helping to strengthen our competitiveness in another key sector, namely, testing and certification.
Trades that depend on high-quality testing and certification services include Chinese medicine, construction materials, toys, food and jewellery.
Our aim is to enhance our brand as "Tested in Hong Kong, Certified in Hong Kong".
Not only will this benefit local firms but also those in the Mainland of China. As companies across the boundary continue to seek out markets overseas, the "Tested in Hong Kong, Certified in Hong Kong" label could add value to products and open doors to new markets.
Ladies and gentlemen, as Asia emerges relatively strongly from the global financial crisis, the economic centre of gravity is shifting from West to East. Our executives have a key part to play in helping businesses to keep winning in a challenging world. Towards this end, they themselves must ceaselessly innovate in system and resource management as well as keeping up with the latest technological advancement.
Finally, warmest congratulations to the Hong Kong Management Association on its 50th Anniversary. I wish you all a successful management conference starting tomorrow and our visitors a memorable stay here in Asia's world city.
Thank you.
Ends/Monday, September 13, 2010
Issued at HKT 20:27
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