Science Park sees 2020 finish for HK$4.4b plan

(CHINA DAILY)

TheHongKongScience&TechnologyParksCorporation(HKSTP)saysitsPhaseIexpansionplancouldbecompletedinthe2019-20financialyear,iftheLegislativeCouncilFinanceCommitteeapprovesitsHK$4.4billionfundingrequest.

TheHKSTPwillcontribute10percentoftheHK$4.4billionprojectedexpenseswhiletherestissoughttobederivedfromgovernmentfundingandgovernmentloanguarantees.

"TheHongKongScienceParkwillprovidefullservicetocompaniesfocusingonbiomedicaltechnology,electronics,greentechnology,informationandcommunicationstechnologyaswellasmaterialsandprecisionengineering,tomoveintothenewbuildingsafterexpansionworkisfinished,”HKSTPChiefExecutiveOfficerAllenMaKam-singsaid.

"Theexpansionplancanfacilitatethedepthandlengthofanindustrychainthatcanbesophisticatedenoughtosupportresearchanddevelopment(R&D)andhigh-endmanufacturingactivitiesinHongKong,”Maadded.

HKSTPhasalreadyfinishedPhaseI,IIandIIIconstruction,whichtogethercurrentlyaccommodate587technologycompanieswithanestimatedannualturnoverofaroundHK$234billion.About9,000personsareinvolvedinR&Drelatedactivities.

EstablishedinMay2001,HKSTPisagovernment-ownedstatutorybodycomprisingtheHongKongSciencePark,premierofficespaceInnoCentre,andindustrialestatestopromotetechnicalinnovationinHongKong.