HOPES of an early start on the Silicon Harbour venture have dimmed after Tung Chee-hwa gave no commitment to aiding the multi-billion-dollar silicon chip-making project.
Officials were unable to announce a breakthrough on the investment bid led by Hambrecht and Quist Asia Pacific after a one-hour meeting between the Chief Executive and project boss Hsu Ta-lin in San Francisco on Friday.
Mr Hsu, H & Q Asia Pacific chairman, has formally presented the proposal including economic benefits, the perceived need for tax incentives and lower land prices and the risks involved in building a chip-making base in Hong Kong.
He claimed Silicon Harbour would contribute US$30 billion (HK$232 billion) to gross domestic product by 2008 and create 195,000 jobs - 45,000 technology posts and 150,000 jobs in support services.
Mr Tung described the US$1.2 billion project as 'exciting' but offered no promises on concessions. He earlier said manufacturing semi-conductors was a different proposition than his Internet and information technology route.
In what was seen as a lukewarm response, Secretary for Trade and Industry Chau Tak-hay said the idea would be further discussed but no deadline had been fixed.
