What will be the next sector driving Hong Kong's economy? With plans for the first phase of a $3.64 billion Science Park approved last month by the Executive Council, the direction seems clear: Hong Kong wants to become a hub of high technology.
Its establishment is based on a broader strategy outlined by Chief Executive Tung Chee-hwa in last year's policy speech and endorsed by Cheung Siu-hing, deputy secretary for Trade and Industry.
'We think Hong Kong's economic development should be geared towards a knowledge-based and technology-based orientation,' she says.
'It is important for people to have common facilities in which they can communicate.' But because the chosen path for Hong Kong has been well-trodden by neighbours such as Taiwan and Singapore, and the economic success of the SAR has been based on the Government's laissez-faire policy and sectors unrelated to technology, a debate has arisen over whether the Science Park is necessary.
The first of its three phases is expected to be opened in the second half of 2001 and spawn an estimated 6,000 jobs. In total, the park is expected to cover 22 hectares of reclaimed land beside Chinese University at Pak Shek Kok.
Flats for foreign professionals, who will likely be recruited or sought for their expertise, will also be built. The final phase is estimated to be completed in 2013.
'It may sound like a long time but we have to do our marketing and people will have to be convinced that Hong Kong is the place to be to set up their research and development [R & D] facilities,' Ms Cheung says.
