Hong Kong Economic and Trade Office, San Francisco
Hong Kong
Gov't backs I&T

Chief Executive Carrie Lam
Innovation and technology (I&T) is a sector dear to my heart and is among the key policy priorities of this term of Government. And central to building an I&T hub here in Hong Kong is a thriving R&D (research and development) industry. I am therefore glad that ASM Pacific Technology opens its new R&D centre here today. A Hong Kong-based company, ASM Pacific Technology was founded in 1975. In those days, very few Hong Kong people talked about technology. After some 40 years, today the company counts more than 16,000 employees in over 30 countries. The new Hong Kong centre employs, I am told, more than 600 R&D engineers and professionals, with more than 10% of them holding a PhD degree.

The Chief Executive, Mrs Carrie Lam, speaks at the Grand Opening of ASM Pacific Technology Hong Kong Office on May 6.
The Chief Executive, Mrs Carrie Lam, speaks at the Grand Opening of ASM Pacific Technology Hong Kong Office on May 6.

A world leader in semiconductor assembly, packaging equipment and materials, and surface mount technology applications, ASM Pacific Technology was named to Thomson Reuters Top 100 Global Technology Leaders list last year, joining distinguished companies like Apple, Alphabet, Microsoft and other I&T giants. In short, ASM Pacific Technology is now a global industry leader - a role model for our startups and for our I&T sector as a whole.

My Government is fully committed to promoting I&T. We have, to date, committed around HK$100 billion (US$12.8 billion) of resources to drive I&T development through a variety of policies and programmes. We have also set an ambitious target of increasing total R&D expenditure to 1.5% of our Gross Domestic Product by 2022. But the Government can hardly do it alone. Investing in R&D by private enterprises is essential to achieving our goal and hence we have introduced a super deduction in profits tax for companies' R&D spending.

Talent development is another major factor for a sustainable I&T sector. ASM Pacific Technology is certainly doing its part. The company has been collaborating with our universities and technical colleges, initiating joint projects in new technology R&D. It also offers internships and job placements for local engineering students and graduates. I understand that among the more than 600 engineers working in this new Hong Kong centre, nearly half are under the age of 30. That is both impressive and inspiring. I look forward to meeting some of them during my tour later and listening to their views on Hong Kong's I&T opportunities and challenges.

Hong Kong's I&T future is, if I may say so, gathering momentum. It is finding shape and sustainability thanks to the confluence and connectivity of numerous critical variables, from our booming startup sector and superlative educational institutions, to our growing alliances with leading international I&T companies and organisations. Thanks, too, to the offices and R&D centres set up by world-class businesses like ASM Pacific Technology here. I look forward to working with the company and other industry players in promoting I&T development in Hong Kong.

Chief Executive Carrie Lam gave these remarks at the ASM Pacific Technology Hong Kong Office Grand Opening on May 6.

The Chief Executive, Mrs. Carrie Lam, attended the Grand Opening of ASM Pacific Technology Hong Kong Office on May 6. Photo shows Mrs. Lam (centre); the Chairman of the ASM Pacific Technology, Ms. Orasa Livasiri (left); and the Chief Executive Officer of the ASM Pacific Technology, Mr. Lee Wai-kwong (right), officiating at the opening.
The Chief Executive, Mrs. Carrie Lam, attended the Grand Opening of ASM Pacific Technology Hong Kong Office on May 6. Photo shows Mrs. Lam (centre); the Chairman of the ASM Pacific Technology, Ms. Orasa Livasiri (left); and the Chief Executive Officer of the ASM Pacific Technology, Mr. Lee Wai-kwong (right), officiating at the opening.
 
The Chief Executive, Mrs. Carrie Lam, attended the Grand Opening of ASM Pacific Technology Hong Kong Office on May 6. Photo shows Mrs. Lam (front row, second right) chatting with young engineers after the opening.
The Chief Executive, Mrs. Carrie Lam, attended the Grand Opening of ASM Pacific Technology Hong Kong Office on May 6. Photo shows Mrs. Lam (front row, second right) chatting with young engineers after the opening.


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