TO secure the future of Hong Kong as an international air hub, the Government spent $158 billion on a new airport. It has spent $7.5 billion on the Western Harbour Crossing and about $100 billion will be spent on West Rail.
There is recognition for the need for good infrastructure to support Hong Kong's economy but, unfortunately, that has not been extended to technology infrastructure in the same way.
Most of the development is left to private companies. The problem is, private industry has failed to develop technology and shows no sign that it is ready or able to make the necessary level of investment.
Several areas need urgent investment, including broad-band telecommunications, e-commerce and electronic banking. To survive in the world of the future, Hong Kong businesses must be able to trade electronically. That means they need the telecommunications infrastructure to make it possible. Standards must be set for security, verification of identity, electronic signatures and a legal framework to work within.
Projects to develop the technology must be started immediately. Hong Kong is trailing in a sector it ought to be leading.
The Government has made a start by granting the Post Office the right to operate certification authority services by the end of the year - a key development in e-commerce. When the standards for e-commerce have been set, Hong Kong may be able to develop its own high-profile Internet companies like Amazon.com, Onsale and Yahoo! (Hong Kong already has Chinese books sites which are proving popular).
