Construction of rail links, highways, new towns expected to create 250,000 jobs
About HK$250 billion will be spent over the next decade pushing forward 10 major infrastructure projects, which are expected to create 250,000 jobs, the chief executive said.
The commitment was generally welcomed, especially by the construction sector, which hopes it will return Hong Kong to the golden era of 1997, when a manual worker could earn more than HK$10,000 a month.
But the Hong Kong Construction Industry Employers General Union warned of a shortage of labour as many construction workers had left the industry in the past few years, when the economy was slack.
Census figures and statistics show the number of construction site workers fell from 72,311 in March 2003 to 51,098 in June.
Chief Executive Donald Tsang Yam-kuen said the 10 projects were expected to add HK$100 billion a year to the economy. 'In promoting infrastructure development, our efforts over the past decade did not match expectations. Overall expenditure on infrastructure for this year may well be the lowest in recent years.'