Multisector development needed to help talent find jobs, says Lui

Wallis Wang

Hong Kong should move in tandem on many development fronts as not every talent who arrives can find "an ideal job," says Francis Lui Ting-ming, a member of the Chief Executive's Policy Unit Expert Group.

Speaking on radio yesterday, Lui said Hong Kong is undergoing economic restructuring and should explore new technologies apart from expanding financial services.

Lui, an adjunct economics professor at the University of Science and Technology, said the city should also assist the mainland's Belt and Road Initiative.

"During the economic transition, we can optimistically say Hong Kong has a bright future but the path would be rough," he said.

Lui said the threshold for small or medium-sized Hong Kong companies to expand business in the mainland was low 40 years ago and that meant they could easily succeed, given a willingness to work hard.

But Hongkongers nowadays lack fighting spirit, he said, adding that people should do away with the "lying flat" attitude and instead "work like hell" to help develop new industries.

The city should develop various sectors in order to move forward on many fronts and create more job opportunities for imported talent, Lui said, noting that Hong Kong lags Singapore in terms of policies on talent acquisition.

"Hong Kong doesn't seem to know how to use talent after attracting them to the city, as not everyone of them can find an ideal job," he said.

"Some end up being jobless or working as salesmen. It's a waste of their expertise if the talent switches to selling insurance after coming to Hong Kong."

Lui said Singapore has a systematic talent policy, including offering scholarships to top students at secondary schools with the condition they could be called to return after studying abroad.

Hong Kong should launch policies to integrate talent and attach importance to those who are able to start a business to create more job opportunities, he said.

wallis.wang@singtaonewscorp.com