Setting up Hung Shui Kiu Industry Park to offer greater flexibility in attracting investment: Development Bureau

The Development Bureau said the establishment of the Hung Shui Kiu Industry Park Company Limited will make it more flexible to attract investment and businesses, and it expects the company to be self-sufficient in the long run.

The Hung Shui Kiu pilot area has commenced the tender on Tuesday, including three private housing sites and three enterprise and technology park sites, with an area of around 11 hectares.

Some leading firms may not submit the bids for the tender, but they still seek to acquire a sizable site for factory construction, which can be processed through direct negotiation with the Hung Shui Kiu Industry Park Company, said Doris Ho Pui-ling, Permanent Secretary at the Development Bureau.

Many companies, like the advanced construction industries, eco-friendly concrete producers, and Chinese medicine manufacturers, have shown interest in setting up businesses in Hung Shui Kiu, she noted, adding that she hopes the park to focus on developing intelligent advanced manufacturing.

Ho said she hoped the 25-hectare park to achieve financial self-sustainability in the long term. Except for initial capital, the lands offered by the government could bring revenues like rents and land premiums to the park, while it could consider borrowing loans from the market if needed.

Regarding key performance indicators, Ho acknowledged their necessity but stated that she does not want to set specific KPIs for the company at the current stage.

The registration of the Hung Shui Kiu Industry Park Company is expected to be completed next week, and the Development Bureau will apply to the Town Planning Board to rezone and grant the land to the company.