EdTalk | The ‘entrepreneurial state’: Hong Kong could gain more through regional collaborations
Carrie Lam outlined positive policy objectives aimed at supporting innovation in her October policy address; however, the city could go further by initiating collaborations with the Guangzhou and Shenzhen governments
Hong Kong has long favoured free market fundamentals in its approach to governance, and the principles of “positive non-interventionism” have been central to the decision-making of the city’s officials.
However, the challenges arising in today’s fast-changing, globalised environment mean that such an approach may no longer be viable.
Responding to these challenges, the Hong Kong government is introducing new measures to accelerate the success of innovation and entrepreneurship – which, in turn, means that the traditional notion of Hong Kong as a “liberal state” no longer applies.
Other governments in Asia have shown themselves to be increasingly proactive when it comes to promoting innovation and entrepreneurship – often providing ubiquitous state support for entrepreneurial ecosystems.
To steer Hong Kong in a similar direction, Chief Executive Carrie Lam – in her (October) 2017 Policy Address – has called for a new approach to governance, one which enables multiple actors and diverse sectors to get involved – not only in policy formulation, but also in policy implementation.
Lam made it clear that the role of government is set to change dramatically – from that of “regulator” or “gatekeeper”, to one of “facilitator” or “enabler”.