Various measures

HKSTP's role is to help accelerate the advanced manufacturing and technology-driven industry as an economic pillar by creating an infrastructure and services ecosystem for I&T both in Hong Kong and the whole Greater Bay Area.

"Besides setting up the three INNOPARKs, HKSTP connects with the entire spectrum of important partners and organizations to build up ecosystems. By positioning Hong Kong as an international gateway in the Greater Bay Area, we also aim to attract investment and help companies go global," Yiu said.

Industrial estates in Tai Po, Tseung Kwan O, and Yuen Long have been "repositioned" as INNOPARKs to drive reindustrialization. "There are five purpose-built buildings providing critical capabilities to accelerate innovators in their journey to turn great ideas and research into innovation-driven manufacturing of impactful market-ready products," he said.

"These facilities will serve a growing need for specialist capabilities in producing advanced high-end electronics, medical equipment and supplies, plus precision manufacturing processes and products that need to meet the highest standards in quality, safety, hygiene, and global regulations.

"Five facilities serving as critical hubs supporting related ecosystems include the Precision Manufacturing Center; Data Technology Hub; MARS Center; the Advanced Manufacturing Center which opened in April; and Microelectronics Center to open in 2024."

These are essential to attracting talent, investment and innovation to these high-tech, high-growth sectors. "Talent, a world-class eco-system and infrastructure are the focus areas where we provide support to drive reindustrialization," Yiu said. "Talent is Hong Kong's innovation imperative to fuel growth in the digital economy and HKSTP adopts a strategic approach to groom the next generation of innovators. Our programs include the two-way, cross-border GBA InnoAcademy and GBA InnoExpress.

"As for the ecosystem, we are investing heavily in partnerships and collaboration to maximize the power of integration in driving cross-border, cross-industry, cross-community engagement."

Industrial estates were repositioned as INNOPARKs for a broad purpose, Yiu said. "This is aimed at coaxing new and old industries to embrace smart, technology-driven processes. Our vision is to help industrialists and pioneers accelerate research in innovation-driven manufacturing or 'innofacturing' and market-ready offerings, and forge new paths for 'innovated, designed and Made in Hong Kong' creations. The new and transformed industries will ensure a new generation of jobs and careers because they demand skillsets in deep-tech segments, such as artificial intelligence, robotics, biotech, fintech and data analytics."

He said the hope is to attract companies in spheres like microelectronics, health devices and medical supplies, data, creative industries, e-commerce, telecommunications and health, as well as traditional industries adopting advanced manufacturing processes such as Industry 4.0 technology and logistics.