First application under New Industrialisation Acceleration Scheme supported by Vetting Committee and number of smart production lines supported under New Industrialisation Funding Scheme exceeding 100
The Innovation and Technology Commission (ITC) announced today (February5) that the New Industrialisation Vetting Committee under the Innovation and Technology Fund (ITF) has supported an application under the New Industrialisation Acceleration Scheme (NIAS) submitted by Jean-Marie Pharmacal Company Limited,a subsidiary of the Jacobson Group, covering the life and health technology sector. The project plans to set up smart production lines for sterilised eye drops, oral solid dose and oral liquid dose. This is the first NIAS project supported by the Vetting Committee. The total cost of the project is projected to be around $600 million, and the expected NIAS funding amount involved will be around $200 million.
At the same time, the ITC announced that the number of new smart production lines supported by the Vetting Committee under the New Industrialisation Funding Scheme (NIFS) has exceeded 100 since the launch of NIFS, involving industries such as food manufacturing and processing (including health food), textiles and clothing, construction materials, medical devices, nanofiber materials, new energy, pharmaceutical (including Chinese medicine), electronics, printing and product accessories with a total estimated project cost of around $1.3 billion, of which $930 million came from private investment.
The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, "The Government proactively engages in innovation and technology (I&T) industry development. By launching the NIFS and the NIAS, we aim to promote new industrialisation and secure room for high-quality development in Hong Kong. We are glad to see that enterprises are actively participating in the two funding schemes, making use of I&T to achieve smart production and enhance competitiveness. The Government will continue to assist more enterprises to set up new smart production facilities in Hong Kong and support local enterprises in technology upgrade and achieving new industrialisation, so as to foster the development of Hong Kong's manufacturing industry and diversified economy."
The Chief Executive announced in the 2023 Policy Address the establishment of the $10 billion NIAS, which was launched in September 2024. The NIAS provides funding support on a 1 (Government): 2 (enterprise) matching basis for enterprises engaging in industries of strategic importance (i.e. life and health technology, artificial intelligence and data science, advanced manufacturing and new energy technologies) and contributing no less than $200 million to set up new smart production facilities in Hong Kong. For each project, the minimum total project cost is $300 million. The enterprise has to contribute no less than $200 million, and the Government will cover a maximum of one-third of the total approved project cost or $200 million, whichever is lower. Each enterprise can receive up to $200 million in funding under the NIAS.
In addition, the Government encourages enterprises with approved projects under the NIAS to carry out research or increase their scale of research in Hong Kong by providing additional funding for them to engage research talent, as well as facilitating such enterprises in employing non-local talent required for setting up or operating the new production facilities in Hong Kong.
The NIFS aims to subsidise manufacturers on a 1 (Government): 2 (enterprise) matching basis to set up new smart production lines in Hong Kong. The funding ceiling for each project is one-third of the total project cost or $15 million, whichever is lower. Each enterprise can carry out up to three projects concurrently to receive a maximum total funding of up to $45 million under the NIFS.
The NIAS and the NIFS are open for applications throughout the year. Details are available on the website of the Innovation and Technology Fund (www.itf.gov.hk). For enquiries, please contact the Secretariat of the schemes (Tel: 3655 5678; email: enquiry@itf.gov.hk).
Speech by CE at Launch Ceremony of Aircraft Engineering Training Centre
Following is the speech by the Chief Executive, Mr John Lee, at the Launch Ceremony of Aircraft Engineering Training Centre today (December 18):
Honourable Consul General of France (Consul General of France in Hong Kong, Ms Christile Drulhe), Mr Daniel Derichebourg (Group Chairman and Chief Executive Officer of Elior Group SA), Mrs Vivian Cheung (Chief Executive Officer of the Airport Authority Hong Kong and Chairman of the Hong Kong International Aviation Academy), distinguished guests, ladies and gentlemen,
Good morning. It is a memorable moment for us to be here for the launch ceremony of the Aircraft Engineering Training Centre. The presence today and the speech by Mr Derichebourg speaks for Hong Kong's internationalisation.
Today marks a major step forward in Hong Kong's determination to rise as Asia's first aircraft recycling and parts-trading centre.
We will do so, I'm delighted to say, in partnership with Elior Group SA. Elior is a leading European aeronautic services company with international expertise in aircraft engineering, dismantling, high-value parts management, and more. Together, we have what we need to build a flourishing regional service supply chain, one that captures the full aviation life cycle.
Hong Kong is a global city located at the heart of Asia. As a "super connector" and "super value-adder", we add value to markets, capital, corporations and opportunities, across borders and regions.
This role is supported by an internationally recognised legal system, a simple tax regime, and a favourable business environment, making Hong Kong an ideal two-way investment centre - for Chinese Mainland companies expanding globally and for international firms accessing the fast-growing markets of our country and the larger Asian region.
Our vital aviation industry embodies these compelling advantages. As a global aviation hub with a world-class airport and an extensive air-services network, Hong Kong has achieved remarkable success, particularly in air cargo - Hong Kong International Airport has been ranked the world's number one air cargo volume airport 14 times since 2010. We are strengthening our position through airport infrastructure developments, like the Three-runway System, and by enhancing professional services such as aircraft leasing.
Building on this robust aviation foundation, ladies and gentlemen, we are now focusing on making Hong Kong a leading aircraft recycling and parts-trading hub in the region. This will create jobs. They will be high-value jobs, better-paid and high-skill jobs.
In achieving that goal, we will drive the development of related industries as well, including trade, insurance, finance, leasing and more, creating new job opportunities and long-term economic benefits for Hong Kong.
And in securing the supply stability of aircraft parts for maintenance, we will ensure the long-term growth of the aviation industry in Hong Kong, our country and beyond.
Realising these ambitions demands a steady supply of skilled aircraft maintenance mechanics and engineers. We entrust that to the Hong Kong International Aviation Academy, in collaboration with Elior.
A world-leading civil aviation training institution, the Academy has trained nearly 400,000 trainees from Hong Kong, the Chinese Mainland and overseas since its establishment in 2016.
As for Elior, it now has a team of expert professionals here in Hong Kong, involved in setting up the Aircraft Engineering Training Centre, which will offer programmes in aircraft engineering, maintenance and airworthiness management.
The first course will be launched in the first quarter of next year, with more courses planned for later in the year. These specialised programmes will meet international benchmarks and industry needs.
With Elior's expertise and the Academy's commitment to expanding aviation talent, I am confident that the Training Centre we inaugurate today will inspire a world-class talent pool, propelling Hong Kong's emergence as Asia's aircraft recycling and parts-trading centre.
The Training Centre's opening is only the beginning. We will work closely with Elior to identify other promising opportunities in the aviation industry. Together, we will soar.
I am grateful to Elior for its commitment to creating a mutually rewarding future with us here in Hong Kong, and throughout Asia. My thanks also go to the Academy and all the industry partners involved, for your contributions in turning this far-reaching vision into boundless reality.
I wish the Training Centre every success, and each of you the best of business, health and well-being in the New Year. Thank you.
Speech by CE at Launch Ceremony of Aircraft Engineering Training Centre Source: HKSAR Government Press Releases
Speech by CE at Launch Ceremony of Aircraft Engineering Training Centre Source: HKSAR Government Press Releases
Speech by CE at Launch Ceremony of Aircraft Engineering Training Centre Source: HKSAR Government Press Releases
Speech by CE at Launch Ceremony of Aircraft Engineering Training Centre Source: HKSAR Government Press Releases
Speech by CE at Launch Ceremony of Aircraft Engineering Training Centre Source: HKSAR Government Press Releases
