Chief Executive CY Leung today welcomed the Legislative Council Finance Committee's funding approval for establishing an Innovation & Technology Bureau.
In a statement, Mr Leung said the current-term Government is committed to promoting economic diversification, and innovation and technology are crucial to the enhancement of Hong Kong's competitiveness and the improvement of people's quality of living.
He noted that innovation and technology are making huge strides every day and Hong Kong should not continue to lag behind its competitors, adding that there is a pressing need to set up the new bureau to provide focused, high-level leadership and stronger policy co-ordination among stakeholders.
After three years of deliberations at LegCo due to filibustering by some LegCo members, the funding applications for the establishment of the bureau are finally approved today, Mr Leung said.
The bureau will be responsible for formulating holistic policies to support the development of technology infrastructure and manpower; strengthening co-ordination between the Government, industry, academia and research sectors; and expediting the development of innovation, technology and related industries in Hong Kong.
According to the resolution passed by LegCo in June this year, the bureau should be established 14 days after the Finance Committee has approved the relevant funding applications.
