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Following is the speech by the Chief Executive, Mr Donald Tsang, at the opening ceremony of AsiaWorld-Expo this afternoon (December 21):
Mr Rowse, Mr Borit, distinguished guests, ladies and gentlemen,
Thank you all for joining us here today to celebrate the opening of AsiaWorld-Expo.
This new addition to our infrastructure is one of the many initiatives which the Government has been spearheading in recent years.
First of all, AsiaWorld-Expo is a world-class convention and exhibition facility. It is situated right next door to our international airport that year after year is voted one of the world's best.
When we adopted the brandname "Asia's World City" for Hong Kong a few years ago, it was intended to be partly descriptive and partly aspirational. We have since been working hard to live up to the promise of being a premier city in the region and beyond. With the opening of AsiaWorld-Expo, we have turned another small part of our vision into reality.
Second, the new facility speaks for Hong Kong's changing economic role. We recognised over 10 years ago that we were moving away from manufacturing to become a services economy. To facilitate this shift in the structure of our economy, the Government had set up a Services Promotion Strategy Group to consider the initiatives that the Government should take, as well as the Business and Services Promotion Unit as an executive agent. AsiaWorld-Expo is one of the many projects to emerge from these initiatives. Today, services make up 90% of our economy, probably the highest percentage in the world.
One major role of Hong Kong is to serve as a regional hub and a base for international and, increasingly, Mainland companies to manage their business operations in East Asia. A complementary role is to serve as a two-way springboard: for companies from around the world wishing to access the Mainland of China, in particular the Pearl River Delta, and for Mainland companies to launch themselves into the international marketplace. It is no coincidence that many of the exhibitions to be held here in the coming years are to show off Chinese goods and services to the world. Others will show the world's best products to an increasingly sophisticated and substantial market in the Mainland.
We facilitate trade; we facilitate business. We help to put the different parties in touch with each other. And in so doing we earn our own living.
The third initiative which Asia World-Expo exemplifies is the partnership between the public sector and the private sector.
The Government is putting in a substantial amount of equity for the new facility, in recognition that it is our responsibility to provide the infrastructure to revive the economy, to enable the economy to flourish and grow. The private sector has also played a critical role in ensuring the success of the project. The first phase of this state-of-the-art facility has been built and commissioned on schedule and within budget ¡ª two characteristics of Hong Kong businesses on which we pride ourselves.
The decision to include a fabulous Arena within the complex is a good example of the commercial instincts that the private sector partner brings. With a facility that will seat up to 13,500 people indoors in air-conditioned comfort, we will be better able to attract major events and world-class performers to Hong Kong in future.
The responsibility of winning new business for AsiaWorld-Expo falls upon the operating company which is entirely privately owned. I am pleased to note that the drive has been unrelenting and very successful.
Ladies and Gentlemen, we will continue our efforts in maintaining Hong Kong's status as Asia's World City. We will continue to facilitate the growth of Hong Kong's economy as the pre-eminent service centre in Asia. In addition, we will continue to explore opportunities for public private partnerships, and in the process, we will take care to select our partners in a transparent way in open competition. AsiaWorld-Expo is an excellent example of our efforts in all three areas.
I would like to congratulate everyone associated with the AsiaWorld-Expo project on its smooth delivery, and I wish AsiaWorld-Expo every success in the future.
Thank you.
Ends/Wednesday, December 21, 2005
Issued at HKT 16:26
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