For Immediate Release
Hong Kong continues to enjoy a budget surplus, but the Government is aware of the challenges that are facing SMEs, Financial Secretary John Tsang told the business community at a joint luncheon today.
“We shall continue to pay particular attention to the needs of our SMEs, the backbone of our economy,” he told the full house.
This is in line with the Chamber’s calls to help SMEs through difficult times. Measures such as tax relief, the extension of the SME Financing Guarantee Scheme and enhanced financial incentives for IT upgrading and research & development are most welcome by the business community.
However, to sustain Hong Kong’s competitiveness, two crucial issues need to be addressed. “We must also win the battle against two major constraints, the supply of land and the supply of labour,” the Financial Secretary stressed.
On manpower supply, he said the Government is committed to nurturing and encouraged the business sector to support opportunities to provide apprenticeships to young people. HKGCC Chairman C K Chow said, “There has been a long and strong tradition for the business community to work hand in hand with the Government in open dialogue to build the future of Hong Kong. We have done that in the past. We should continue to do that in the future.”
In addition to promoting vocational training and attracting talent to enter various industries, the Administration is also looking into encouraging more women to join the workforce. The Chamber supports these ideas, but to provide immediate relief to the acute labour shortage, the Chamber urges the Government to import workers for certain sectors.
On increasing the land supply, for commercial use, he said the Government is exploring the possibility of developing a “hotel belt” adjacent to the Kai Tak Cruise Terminal to complement the overall development of Kowloon East.
“While we support the Financial Secretary’s proposals to overcome the city’s manpower and land constraints, we believe more needs to be done to raise the competitiveness of our business environment, especially when we currently have a very healthy budget surplus,” Chamber CEO Shirley Yuen said following the luncheon.
Photos can be downloaded from www.chamber.org.hk/en/media/pressphotos/
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