Speech by FS at Science Park Phase 3 ground breaking ceremony (English only) (with video)

Speech by FS at Science Park Phase 3 ground breaking ceremony (English only) (with video)
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     Following is the speech delivered by the Financial Secretary, Mr John C Tsang, at the ground breaking ceremony of Science Park Phase 3 today (December 15):

Nick, distinguished guests, ladies and gentlemen,

     Good morning.

     I am pleased to join you all for the ground breaking ceremony of Hong Kong Science Park Phase 3.

     The Science Park has evolved rapidly since it opened in 2002. It is now one of the key components of our technology infrastructure. This excellent facility is home to 350 companies that have a combined annual turnover of more than $100 billion. They also provide over 8 000 high quality R&D jobs.

     The $4.9 billion Phase 3 expansion will increase R&D space at the Park by some 50 per cent, or about 100 000 square metres.

     It will house another 150 technology companies and provide over 4 000 additional jobs.  Phase 3 will be completed in stages from the end of 2013 to 2016. Importantly in this day and age, its main theme is green technologies.

     Innovation and technology are the most effective tools with which to sustain the competitiveness of our companies and our economy. That is why the Government is nurturing innovation and technology as one of Hong Kong's six industries for priority development.

     As well as extending technology infrastructure, we also provide a comprehensive package of software support. Since 1999, the Innovation and Technology Fund has been helping finance applied research projects by universities, R&D centres and companies. So far, the Fund has supported over 2 500 projects with total funding of over $6 billion.
　
     The Science Park's incubation programme has also proven to be successful and popular for technology start-ups. The programme provides subsidised office space, shared-use laboratories and equipment, as well as marketing, financial and technical assistance. All these are critical in the early days of such companies.

     To date, around 320 companies have benefited from the programme. One of these companies won the bronze award in the prestigious Asian Innovation Awards organised by the Wall Street Journal Asia in November. It is the second consecutive year that our incubatees have been recognised at the Awards.

     This 10th Anniversary of the Hong Kong Science and Technology Parks Corporation has been an exciting and fruitful year. In May, we witnessed the opening of Green 18 - a showcase of sustainable building design. And last month, the InnoCarnival and the InnoAsia were successfully held here with a record number of visitors.

     Also, the Board of Directors of the Corporation won the "Directors of the Year Award 2011" organised by the Hong Kong Institute of Directors.

     This ground breaking ceremony marks another milestone not only for the Corporation but also for the innovation and technology community in Hong Kong.

     Ladies and gentlemen, I wish to congratulate the Hong Kong Science and Technology Parks Corporation on this important occasion.  I also thank you for your contributions to Hong Kong's science and technology development, and I wish the Phase 3 Project every success.

     Thank you very much.

Ends/Thursday, December 15, 2011
Issued at HKT 13:00

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