2024 Policy Address: Gov’t to establish Hong Kong Maritime and Port Development Board

It will assist in formulating policies and strategies for Hong Kong's maritime industry.

Chief Executive John Lee has announced the establishment of the Hong Kong Maritime and Port Development Board, which will replace the existing Hong Kong Maritime and Port Board.

The high-level advisory body will assist the government in formulating policies and long-term development strategies to strengthen Hong Kong's maritime industry.

“Additional funding will be provided to enhance its research capabilities, strengthen its Mainland and overseas promotional work and step up manpower training, supporting the government in policy implementation more effectively and promoting the sustainable development of Hong Kong’s maritime industry,” he said during his 2024 Policy Address.

The government also said it aims to attract maritime service enterprises through enhanced tax concessions.

Additionally, incentives will be offered for ships meeting international decarbonisation standards, and an Action Plan on Green Maritime Fuel Bunkering will be launched to develop infrastructure for green fuel terminals.

Meanwhile, the chief executive highlighted the importance of creating a commodity trading ecosystem in Hong Kong, which will drive demand for maritime services and related financial offerings.

The government will also explore tax incentives to attract businesses from Mainland China and abroad to establish a presence in the city.

Follow the link for more news on

Policy Address

Also Read

Foreign trade outlook dims amidst economic and geopolitical concerns: report

Customs extends FTA scheme to Myanmar and Honduras

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit