Hong Kong to invest HK$215m for smart port development

A Maritime and Port Development Board will also be formed.

The government of Hong Kong is injecting HK$215m to install a port community system to enhance the flow of data amongst maritime stakeholders.

During this year's budget announcement, authorities said they will seek funding approval from Legislative Council (LegCo) for the said initiative this year.

Hong Kong also said it continues to identify logistics sites, with the first batch located in the vicinity of the Kwai Tsing Container Terminals having just been disposed of by public tender.  

“The government initiated a study on the development model for logistics sites in the NM in order to develop modern logistics clusters. Findings of the study are expected to be announced this year,” it said.

The government has also announced plans to form the Maritime and Port Development Board. This will “strengthen relevant research, promotion, and manpower training to facilitate the sustainable development of the international maritime centre.”

Meanwhile, Hong Kong is enhancing its tax measures, including the introduction of tax deduction on ship acquisition costs for ship lessors under an operating lease.  

“To drive the development of maritime services, we also propose to provide half-rate tax concession to eligible commodity traders. We will introduce a bill into LegCo in the first half of next year,” the government said.