Transcript of remarks by S for IT at media session
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Reporter: Will the Government provide any incentives for private enterprises to develop innovative and technology skills? If so, what kind of incentives will be provided to them?
Secretary for Innovation and Technology: I just mentioned in Chinese that there will be some tax incentives which will be probably announced very soon in the Policy Address of the Chief Executive coming up on October 11. Right now, I cannot comment more about it but you will hear about it. Those are the things. With regard to other funds that we have already set up, those are progressing. The $18 billion we have injected, the last one that will probably have a major impact is the Innovation and Technology Venture Fund. This Fund will kick-start in September. Right now, we are just finalising some of the legal details because it turns out that we need to sign a lot of legal documents with the venture capitalists and also the so-called investees, you know, the people who will receive the funding. We need to make sure the agreement is done in a robust manner.
Reporter: How’s the progress of the Hong Kong-Shenzhen Innovation and Technology Park that will be developed in the Lok Ma Chau Loop?
Secretary for Innovation and Technology: That is progressing nicely. As you know, the Town Planning Board has already published the overall planning details and also we have gazetted this parcel of land for preliminary developmental work. Design of these advance works which will include the construction of roads, which are needed to actually start developing this parcel of land, is also proceeding. We expect probably by the end of this year or early next year, we will go to the LegCo and apply for funding for the advance works.
(Please also refer to the Chinese portion of the transcript.)
Ends/Saturday, August 19, 2017
Issued at HKT 11:43
Issued at HKT 11:43
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