Infrastructure spending pledged

November 25, 2020

Voiceover:
In her 2020 Policy Address, Chief Executive Carrie Lam said infrastructure investment is vital for Hong Kong’s economic development.

To make use of the Hong Kong International Airport’s contribution in promoting economic development, Mrs Lam said the Government has accepted proposals from the Airport Authority.

The proposals include developing innovative facilities at the Hong Kong-Zhuhai-Macao Bridge Hong Kong Boundary Crossing Facilities such as automated car parks, the Intermodal Transfer Terminal, and the Airport City Link’s autonomous transportation system which will be extended to Tung Chung Town Centre.

Mrs Lam said the Government will continue to invest in infrastructure with an estimated annual expenditure of over $100 billion in the next few years.

To launch more district-based livelihood projects as soon as possible, Mrs Lam proposed to raise the expenditure ceiling of each minor works project, such as renovation of schools and leisure facilities, from the current $30 million to $50 million.  

On innovation and technology, the Government will set out more than 130 initiatives in the Smart City Blueprint for Hong Kong 2.0 to be released next month. 

The month will also see the launch of the iAM Smart one-stop service platform, offering over 20 frequently used public services initially, including online application for vehicle licence renewal and filing of electronic tax returns.  

Mrs Lam also proposed launching a five-year Global STEM Professorship Scheme at an estimated cost of $2 billion to attract more I&T talents.

(To watch the 2020 Policy Address speech with sign language interpretation, click here.)

Chief Executive Carrie Lam unveiled today her plan on investing in infrastructure, aviation, as well as innovation and technology development.

Delivering her 2020 Policy Address today, Mrs Lam said infrastructure investment is conducive to economic development.

The Government will maintain an annual capital works expenditure of over $100 billion in the next few years, creating over 300,000 jobs for the construction industry taking into account investment from the private sector.

“To enable more district-based livelihood projects which can create jobs to be launched as soon as possible, we propose that the Legislative Council should raise the expenditure ceiling of each minor works project funded under the block vote from the current $30 million to $50 million.

“We believe this would expedite the implementation of projects that are closely related to the daily lives of the people,” she added.

To leverage the airport’s contribution in promoting Hong Kong’s economic development, Mrs Lam said the Government has accepted a number of proposals put forward by the Airport Authority.

The authority will develop innovative facilities on the Hong Kong-Zhuhai-Macao Bridge Hong Kong Boundary Crossing Facilities, including automated car parks, the Intermodal Transfer Terminal, and the Airport City Link’s autonomous transportation system which will also be extended to Tung Chung Town Centre.

On I&T development, the Chief Executive said the Smart City Blueprint 2.0 will be released next month, setting out more than 130 initiatives. The month will also see the launch of the iAM Smart one-stop service platform which will offer over 20 frequently used public services initially.

Noting talent is the key to the success of I&T development, Mrs Lam proposed to launch a five-year Global STEM Professorship Scheme. Costing $2 billion, the scheme aims to attract outstanding talent from overseas to work in Hong Kong, she added.