Budget Speech

Hong Kong Science Park

100.      The Hong Kong Science Park has become a scientific research hub in Hong Kong and the home to more than 300 science and technology companies from Hong Kong, the Mainland and around the world. Through the development of five areas – electronics, information technology and telecommunications, precision engineering, biotechnology and green technology – the Park has created a clustering effect for companies engaged in these technology fields. It also provides a range of professional and technological support services to small and medium enterprises, helping them flourish through the Incubation Programme.

101.      At present, the overall leasing rate of the two phases of the Hong Kong Science Park is close to 85 per cent. To further promote the development of innovation and technology, boost the development of green technology and attract more high-tech companies to establish a presence in Hong Kong, we have decided to implement the development of Science Park Phase 3. The project will entail an estimated expenditure of $4.9 billion. Proposals covering the scope of development as well as financing arrangements will be announced later. Construction works are expected to start next year for completion in phases between 2013 and 2016. We expect that an additional 4 000 R&D-related jobs or so will be provided upon completion, and that around 5 000 construction-related job opportunities will be created during the construction period.

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