Hong Kong's innovation chief vows to step up efforts to attract talent and capital to stop companies leaving money where it is

Hong Kong's Innovation Minister has acknowledged that the city lacks investment in talent and technology development, and has announced efforts to attract foreign expertise and private capital to prevent companies from leaving where the money is. promised to strengthen the

However, Minister of Innovation, Technology and Industry Soon Dong also expressed optimism about the industry's progress, noting that cities excel in attracting talent despite the current labor shortage. expressed.

Sun said on Sunday's radio show that there is a shortage of talent when it comes to getting things done.

It has to do with how Hong Kong developed its industry in the past. Traditionally, our country did not have many technology or related industries.

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Sun said the situation had improved after the government introduced a series of measures, including a top talent pass system.

The initiative was introduced in December 2022 to attract more professionals to Hong Kong by offering two-year visas, which are only available if the holder is employed in Hong Kong or It can only be extended if the business is already established.

Son said he believes that if the company continues to move in this direction, more talent will be created in the next few years.

He also said the city needs to attract more foreign investment to move the technology sector forward, given that many companies lack the resources to move forward.

He said three major investment funds set up by the government, the Hong Kong Science and Technology Park Corporation and the Hong Kong Cyberport Management Company, have invested over HK$800 million in 88 start-ups and private investment of over HK$16.7 billion. He pointed out that he had called. April's.

From a future perspective, this scale of investment is not sufficient. We are looking at ways in which government funds can be more active and play a more leading role, encouraging more private investment, Sun said.

Without addressing this shortcoming, these companies will either fail to develop or leave Hong Kong for where the money is. It will be the biggest loss for Hong Kong.

Sanctions and global headwinds have little impact on Hong Kong's tech sector

Separately, Sun said the government aims to launch artificial intelligence applications in-house to improve operational efficiency, while also envisioning rolling out more products to improve residents' lives. He said he is doing so.

Mr. Son pointed to the accident that occurred when the government was working to build Hong Kong into a smart city.

Among the high-profile glitches was a glitch in the electronic voter registration system that briefly interrupted voting during December's district council elections.

Just last week, exam authorities had to suspend the use of a new digital roll call system for students after it crashed twice at the start of the Secondary Education Diploma exam.

The minister said that while many incidents appear to be technical issues on the surface, behind them all are administrative issues.

Citing strengthening information security as an example, Sun added that both the public and private sectors need to make efforts for the digital development of cities.

Many good policies and cultures are built only after a society has learned many lessons, some of them very painful. I still have faith in Hong Kong, Son said.

Sources 1/ https://Google.com/ 2/ https://www.scmp.com/news/hong-kong/society/article/3259791/hong-kong-innovation-chief-pledges-step-efforts-attract-talent-capital-stop-firms-leaving-places The mention sources can contact us to remove/changing this article

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