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Amid the financial crisis, enterprises could upgrade and restructure their industry for long-term development by putting more resources into innovation and technology, Commissioner for Innovation and Technology, Mr Eddy Chan said today (January 18).
Speaking at the 2009 annual dinner of the Hong Kong Electronics and Technologies Association, Mr Chan said that based on previous experience in financial crises, enterprises in high value-adding and high-end technology industries were more capable of surviving adversity than others.
He noted that the Innovation and Technology Commission had been helping universities and industry to develop innovative technologies through the provision of various funding schemes and quality technological infrastructure, accelerating industrial upgrading and restructuring.
He said, "To support the starting up of technology businesses, create job opportunities and enhance the level of technology, we have recently further optimised each funding scheme, including the Small Entrepreneur Research Assistance Programme and Internship Programme."
Mr Chan noted that the Government had launched a series of measures to stabilise the financial market and relieve the difficulties of small and medium enterprises (SMEs) in getting short-term loans from banks. Apart from improving the SME Loan Guarantee Scheme, the Government has also offered extra protection to exporters, so that their businesses can continue despite the current harsh conditions and unemployment resulting from bankruptcies can be reduced. Meanwhile, the Government is committed to speeding up public works projects including the 10 major infrastructure items to promote economic development and boost employment.
He said, "I believe we can overcome the difficulties facing us through the concerted efforts of the Government and industry. We will be able to convert the crisis into opportunities and open a new chapter."
Ends/Sunday, January 18, 2009
Issued at HKT 19:54
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