Govt aims at eight aspects for enhancement of logistics industry

Digital transformation and increasing logistics land supply are among the eight strategies formulated by the government to accelerate the city's development into a modern and smart logistics hub in Asia, targeting high-value products and e-commerce.

According to the "Action Plan on Modern Logistics Development" promulgated by the Transport and Logistics Bureau on Tuesday, the government will promote digitalization and smart logistics development in the industry by strengthening the support for enterprises in digital transformation as well as providing smart logistics-related training.

It also aims to build and promote the industry's image as high-end and innovative, with an effort in publicity and promotion to attract young people to join the industry and attract foreign talent to Hong Kong.

To stabilize the supply of logistics land and develop logistics clusters with different functions, authorities will dispose a total of four parcels of land covering about 19 hectares regularly starting from next year to 2027. It will also develop logistics clusters in the New Development Areas of the Northern Metropolis.

The government has planned to promote Hong Kong's unique advantages and actively explore new business opportunities in the ASEAN, the Middle East and other countries along the Belt and Road, along with promoting the Free Trade Agreement Transhipment Facilitation Scheme.

The other strategies included promoting green and sustainable logistics development, increasing the interconnectivity of logistics data for enhancing industry competitiveness, strengthening collaboration within the Greater Bay Area for a better grasp of new opportunities, and enhancing cross-sectoral coordination to support the long-term development of the industry.

"Our goal is to promote high-quality development of our logistics industry by realizing smart development, modernization, green sustainability, internationalization and facilitation," said the Secretary for Transport and Logistics Lam Sai-hung. "thereby developing Hong Kong into a sustainable, international and smart logistics hub focusing on high-value goods and the e-commerce market."

He added that the Action Plan will lead the future development of the logistics industry in Hong Kong, and the government will work with relevant stakeholders to implement the strategies and action measures.

The trading and logistics sector is one of Hong Kong's four key economic pillars, with the logistics sector alone contributing 6.2 percent (around HK$170 billion) to Hong Kong's GDP and around 184,000 jobs to the city's total employment.