Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Thursday, Jun 01, 2023

Hong Kong agency plans to lure food and green tech enterprises to city

Hong Kong agency plans to lure food and green tech enterprises to city

Hong Kong Productivity Council and Office for Attracting Strategic Enterprises hope to increase smart production lines in city from 30 to over 130.

The Hong Kong Productivity Council hopes to encourage overseas food manufacturers and green tech companies to set up smart production lines in the city that reduce operating costs and increase efficiency as part of a government push for intelligent factory processes touched on in the policy address.

Council chairman Sunny Tan was referring to the mission of the Office for Attracting Strategic Enterprises (OASES), which the government will set up next month, to increase the number of smart production lines in the city from about 30 at present to more than 130 in five years.

OASES aims to attract at least 100 high-potential innovation and technology enterprises to set up operations in the city in the next five years.

Tan revealed on Tuesday the council would target companies specialising in three technologies to set up digital production lines in the city.


Hong Kong Productivity Council Executive Director Mohamed Butt (left) and Chairman Sunny Tan.

“The goal is to attract world-class, hi-tech and top-notch enterprises and high-end manufacturing industries to settle in Hong Kong, especially companies specialised in robotics, food tech, biotech and green tech,” he said.

According to Tan, the council signed a collaboration agreement in February with a local egg importer to set up Hong Kong’s first smart production line manufacturing liquid eggs to enhance its production capacity and quality.

A smart production line uses interconnected equipment to optimise a factory’s operation, reducing costs and increasing efficiency.

The importer established its first pasteurised factory in Hong Kong in 2013 to supply fresh liquid eggs to hundreds of eateries and bakeries, taking up a market share of nearly 30 per cent. Restaurants and bakeries use liquid egg to save the time it takes to crack raw eggs.

With the installation of smart production lines, the factory can double its production capacity to between 60 and 70 tonnes of fresh egg liquid every day, and achieve an overall cost saving of up to 30 per cent.

The project received a subsidy of HK$14.9 million (US$1.9 million) from the Re-industrialisation Funding Scheme under the Innovation and Technology Commission. The production line will be operating in two years.

The council said it also signed a deal with a company to set up Hong Kong’s first intelligent production line for fresh corn juice in April.

Meanwhile, Tan, a lawmaker representing the textile and garment sector, said many foreign enterprises showed interest in collaborating with Hong Kong when he was in Thailand as part of Chief Executive John Lee Ka-chiu’s delegation to the Asia-Pacific Economic Cooperation summit in Bangkok.

“Hong Kong is playing a critical role in assisting mainland Chinese enterprises to go global, meanwhile bringing in international enterprises and investments,” Tan said, hoping Thai enterprises would consider setting up shop in the city.

Council director Mohamed Butt admitted it would be difficult for enterprises overseas to move parts of their production to Hong Kong unless they were assured of opportunities for sustainable development.

“I believe the government will provide different preferential policies to different companies. After they come to Hong Kong, they will naturally need to find downstream manufacturers so as to benefit our local small medium enterprises,” Butt said.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

Hong Kong News
Close
0:00
0:00
America's Got Talent…
Elon Musk has been showered with praise by the Chinese public during his trip to China
Nvidia Joins Tech Giants as First Chipmaker to Reach $1 Trillion Valuation
Drone Attack on Moscow's Wealthiest Neighborhoods Suspected to be Launched by Ukraine
Elon Musk Meets Chinese Finance Minister in Beijing
AI ‘extinction’ should be same priority as nuclear war – experts
Chinese fighter jet buzzes U.S. Air Force spy plane over South China Sea
Prominent Hacker Forum RaidForums Suffers Substantial Data Breach
Nvidia CEO Huang says firms, individuals without AI expertise will be left behind
WPP Revolutionizes Advertising with NVIDIA's AI Powerhouse
Two US Employees Fired For Chasing Robbers Out Of Store As They Broke ''Company Policy''
Pfizer, the EU, and disappearing ink - Smoke, Mirrors, and the Billion-Dose Pfizer Vaccine Deal: EU's 'Open Secret
The Sussexes' Royal Rebound: Could Harry and Meghan Markle Return to the UK?
A provocative study suggests: Left-Wing Extremism and its Unsettling Connection to Psychopathy and Narcissism
Neuralink Receives FDA Approval for First-in-Human Clinical Study
Ukrainian Intelligence Official Admits to Assassination Attempts on Putin
WATCH THIS: democracy in Russia is so bad!
Ed Davey: It is possible for a woman to have a penis
Bernard Arnault Loses $11.2 Billion in One Day as Investors Fear Slowdown in US Growth Will Reduce Demand for Luxury Products
Russian’s Wagner Group leader: “I am not a chef, I am a butcher. Russia is in danger of a revolution like in 1917.”
TikTok Sues Montana Over Law Banning the App
Ron DeSantis Jumps Into 2024 Presidential Race, Setting Up Showdown With Trump
Steve Jobs introducing Apple's iPhone, exactly 16 years ago.
Banking Behemoth vs Ex-Boss: The PMorgan-Epstein Entanglement
China overtakes Japan as world's top car exporter
Talks between US House Republicans and President Biden's Democratic administration on raising the federal government's $31.4tn debt ceiling have paused
Biden Administration Eyeing High-Profile Visits to China: The Biden Administration is heating things up by looking into setting up a series of top-level visits to Beijing by top officials in the coming months
New evidence in special counsel probe may undercut Trump’s claim documents he took were automatically declassified
A French court of appeals confirmed former President Nicolas Sarkozy's three-year jail term for corruption and influence peddling
Debt Ceiling Crises Have Unleashed Political Chaos
Weibao Wang, a former software engineer at Apple, was charged with stealing trade secrets related to autonomous systems, including self-driving cars
Mobile phone giant Vodafone to cut 11,000 jobs globally over three years as new boss says its performance not good enough
Elon Musk compares George Soros to Magneto, the supervillain from the Marvel Comics series.
Warren Buffett Sells TSMC Shares Over Concerns About Taiwan's Stability
New Study Finds That Secondary Bacterial Pneumonia Is a Major Cause of Death in COVID-19 Patients Who Require Ventilator Assistance
The official tapes of Trump's deposition in the E. Jean Carroll battery (rape) and defamation case have been released.
King Charles III being crowned.
Newly released video of Donald Trump’s rape trial deposition:
Video: Ukraine MP Punches Russian Representative At Global Meet
El Paso mayor has declared a state of emergency
Russia accused Ukraine of attacking the Kremlin with drones in an attempt to kill Putin
Dutch court orders man who fathered 550 kids to stop donating sperm
Kim Kardashian Lookalike Christina Ashten Dies Of Cardiac Arrest, Hours After Plastic Surgery
Samsung has banned employees from using generative AI services such as ChatGPT
'Godfather Of AI' Geoffrey Hinton Quits Google To Warn Of The Tech's Dangers
A Real woman
Vermont Man Charged with Stalking After Secretly Tracking Woman with Apple AirTag
Elon Musk Statements About Tesla Autopilot Could Be 'Deepfakes,' Lawyers Claim. Judge Evette Pennypacker Does Not Understand How Far and Advanced This Technology Became
Ukraine More Prepared for Counterattack as Reinforcements Arrive
Tucker Carlson is back, soon!
×