A conversation with the late David Akers-Jones sheds light on how Hong Kong’s economic policymaking has evolved over the years. Akers-Jones highlighted the shift from market-driven policies to the current era of expensive and delayed infrastructure projects.
In the past, projects like the Airport Core Programme fueled Hong Kong’s growth, but today, projects like the T4 trunk road face budget overruns and delays due to various challenges and opposition.
The government is now focusing on tech-based industries like quantum computing and health sciences to drive growth. However, obstacles like high costs and environmental concerns persist in the development of technology parks like the San Tin Technopole.
To navigate these challenges, Hong Kong must adapt to a new model of faster development, leveraging resources from the Greater Bay Area. Diversification into new areas like technology is essential for sustained growth.
As Hong Kong progresses towards a tech-driven future, it must adopt smarter strategies to stay competitive in the global landscape and avoid missing out on opportunities.
Regina Ip Lau Suk-yee is convenor of the Executive Council, a lawmaker, and chairwoman of the New People’s Party.