Veteran industrialist Jeffrey Lam appointed head of New Hung Shui Kiu Industry Park Company

The Hong Kong government announced on Friday the appointment of seasoned industrialist Jeffrey Lam Kin-fung as the inaugural chairperson of the newly established Hung Shui Kiu Industry Park Company, marking a major step forward in the strategic development of the Northern Metropolis.

Lam will officially begin his three-year term on June 1, leading a board of directors comprising five top government secretaries and five non-official members drawn from the finance, engineering, and technology sectors.

Formed in January as a wholly government-owned entity, the company has been tasked with overseeing the development and operation of a 23-hectare industrial site in the Hung Shui Kiu area.

Secretary for Development Bernadette Linn highlighted the timing of the appointments, noting that the Northern Metropolis initiative has reached a crucial stage of physical construction and corporate recruitment, which aligns closely with both the national and local five-year plans. She explained that establishing state-owned corporations is a key government strategy to actively drive industrial growth in the region.

Linn expressed strong confidence in Lam’s leadership, pointing to his extensive public service background and deep ties within the commercial sector as essential assets for attracting high-value manufacturers to the area.

She added that the combination of external expertise from the non-official directors and direct government oversight through the official members will enable the company to develop forward-looking strategies and effectively utilize public-private partnerships.

The new enterprise aims to capitalize on Hung Shui Kiu's robust transport network and its close proximity to Shenzhen's Qianhai economic zone.

The park will focus on cultivating competitive sectors such as advanced construction, pharmaceutical manufacturing, and smart food processing, while also providing comprehensive business support services ranging from talent recruitment to equipment rental.

To maximize the site's potential, authorities are currently updating zoning regulations to allow for diverse land use, accommodating everything from production lines to exhibition facilities and staff housing.

The government has already granted the land to the company at a nominal premium and will shortly approach the legislature to request a HK$10 billion equity injection. The company is expected to become fully operational by the middle of this year following the recruitment of a chief executive officer.

 

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