‘More resources needed to develop Hong Kong’s technology industry’
Latest in series of debates organised by the Post also argues city needs to widen its tax base
Hong Kong should input more resources to shore up the IT development and widen its tax base for a sustainable growth engine, panellists said yesterday at a forum on the financial secretary’s latest budget.
The debate, on whether Hong Kong faces a healthy or bleak economic future, was the latest in the “Redefining Hong Kong” debate series organised by the South China Morning Post.
On Wednesday, Financial Secretary John Tsang Chun-wah dished out a HK$38.8 billion package to jump-start the ailing economy, and announced a series of economic incentives such as the setting up of a HK$500 million voucher scheme to allowing small and medium-sized enterprises to apply for a technological services subsidy.
However, information technology lawmaker Charles Mok said he understood the scheme will be limited to government-subsidised service providers, such as universities and research centres.
“It would be a mistake, as the solutions offered by other local IT companies... will be [excluded],” Mok said. “The government needs to innovate itself.”
He said the city should also spend more resources on nurturing talents and beefing up technology development for future growth.
Denis Ma, head of research at JLL, also suggested that without spending more on research and development, the initiatives in the budget would be piecemeal.