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HK to Merge Science Park, Tech Center, Industrial Estates Corp
The Legislative Council of the Hong Kong Special Administrative Region will have the first reading next week of a motion for the merger of the Hong Kong Industrial Technology Center Corporation (Tech Center), the Provisional Hong Kong Science Park Company Limited and the Hong
Kong Industrial Estates Corporation to set out a legal framework for the new statutory body.
This was announced by Chau Tak Hay, secretary for commerce and industry of the Hong Kong SAR, in a speech at a cocktail reception of the three organizations Wednesday, December 13.
Chau said the foundations for a successful merger are already in place.
"The Industrial Estates Corporation is attracting an ever higher caliber of companies in recent months," he said. "Since the beginning of the financial year, the corporation has approved eight new high-tech projects worth US$40 million to US$65 million each."
"The Tech Center focuses on the incubation of local technology companies. More than 50 enterprises have graduated from the incubation program so far -- and most of them have achieved commercial success in a highly competitive environment," he noted.
Referring to the Science Park, he said eight major technology companies have signed up as core tenants and will soon take their place at the heart of four key technology clusters.
"Our expectation is that when these three organizations are merged, they will provide a fully integrated end-to-end support facility for technology firms, from the start-up stage of incubation through research and development, all the way to commercialized production, market facilitation and business matching services. In other words, a one-stop service facility for Hong Kong industry," he said.
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