The Hong Kong Special Administrative Region (HKSAR) government will spend an estimated 21.8 billion HK dollars (2.8 billion U.S. dollars) on infrastructure projects for 2008-09 fiscal year, creating about 27, 000 new construction jobs, Hong Kong Financial Secretary John Tsang said here Wednesday. Delivering his maiden Budget speech to the Legislative Council, Tsang said in the next few years, the HKSAR government will implement the ten major projects the Chief Executive announced in his Policy Address, to promote economic development, create more jobs and stimulate wage increases. Tsang said over the past two years there had been a significant rise in the number and value of approved infrastructure projects and public-works contracts awarded. As these projects reach their construction peaks, they will create more construction jobs. Hong Kong Development Bureau and the Transport and Housing Bureau will play a coordinating role to ensure these projects start as soon as possible, while controlling officers and heads of works departments will closely monitor the planning progress, he added. The financial chief also noted major transport infrastructure projects are progressing well. He said reviews of the Sha Tin in the New Territories to Central Link in the Hong Kong Island and the Guangzhou-Shenzhen-Hong Kong Express Rail Link's Hong Kong section are nearly final. The study on a Hong Kong International Airport-Shenzhen Airport rail link will be completed by the end of this year while the governments of Guangzhou, Hong Kong and Macao are finalizing the financial arrangements for the Hong Kong-Zhuhai-Macao Bridge, Tsang said. He also noted the HKSAR government will apply for funding from the Legislative Council to begin a comprehensive assessment on the planning, construction and impact on heritage sites for opening up new development areas in the Northwest New Territories. (Xinhua)
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