Hong Kong launches action plan to develop ports into leading international maritime centre
The government has announced an action plan to develop Hong Kong into a leading international maritime centre, and promote the sustainable development of the industry, according to South China Morning Post.
The action plan on maritime and port development strategy, unveiled by the Transport and Logistics Bureau on Wednesday, lays out key areas of focus, including developing Hong Kong as a green and smart port.
The plan also puts forward a series of actions to promote the development of the industry by enhancing the competitiveness of its ports, developing high value-added maritime services and strengthening the talent pool.
The action plan lays out 10 strategies and 32 actions to lift Hong Kong’s status as an international maritime centre, including developing the city as a green shipping hub with zero carbon emissions, facilitating smart port development and promoting maritime digitalisation. It also aims to enhance Hong Kong’s maritime influence through Greater Bay Area and international cooperation, as well as the exploration of further tax concessions to attract international maritime enterprise.
The maritime and port industry is an important component of Hong Kong’s economy, contributing about HK$111.8 billion (US$14.3 billion), or 4.1 per cent of the city’s gross domestic product (GDP), and about 78,400 jobs, or 2.1 per cent of total employment, according to the action plan.
It also helps the trade and logistics industry grow. This sector accounts for more than a fifth of Hong Kong’s GDP and employs around a sixth of its working population, making it the most significant of the city’s four pillar industries, according to the plan.
Currently, there are more than 1,100 port and maritime companies in Hong Kong providing a diverse range of services. The city’s high value-added maritime services are bolstered by a robust and transparent legal framework, clear regulations and a business-friendly environment, according to the plan.
With climate change being a top policy consideration, the maritime and port industry is facing stronger demand from various authorities to decarbonise, and customers are also expecting efforts from all industries in meeting zero-emission goals, according to the plan.
The task force on maritime and port development strategy was announced in Financial Secretary Paul Chan Mo-po’s 2023 budget speech on February 22. It was tasked with putting forward an action plan on strategies to further promote the development of Hong Kong as an international maritime centre. It was established by the Transport and Logistics Bureau on April 19.
As Hong Kong’s ports faces intensified regional competition, reduced cargo supplies and a weakening of their competitive advantages, the government needs to propose more measures to consolidate Hong Kong’s advantages, said Ryan Ip, the vice-president and co-head of research at the Our Hong Kong Foundation.
