YPSN: Maritime industry needs future direction in Hong Kong

A blueprint setting out the future direction of Hong Kong's maritime industry should be prepared and the government should then commit to implementing the plan if Hong Kong is to stave-off competition from other regional shipping sectors, says a group of shipping directors.

The proposal, which includes signing more double tax agreements with potential trading partners, tax incentives for companies planning to incorporate in Hong Kong, and subsidised training, was made by the directors of the Young Professionals in Shipping Network (YPSN).

"The government needs to first commit to a plan for the industry," said Su Yin Anand, one of the group's three directors. "After that, an independent ministry for transport covering maritime, logistics, and aviation should be set up to focus on developing these industries.

"Further plans can be made once this basic infrastructure is in place."

Anand, a maritime solicitor, said increasing costs and lack of talent were among the challenges facing Hong Kong's maritime sector. Another was lack of government support in promoting the city as a transport hub.

"This has resulted in Hong Kong being eclipsed by the likes of Singapore, Shenzhen and Shanghai."

A co-founder of the group, Tabitha Logan, a shipping company executive director, said the government had recently begun to take note of the maritime sector in Hong Kong.