Project Cost Management Forum 2025 Focuses on Cost-effectiveness in Construction Through Innovation and Collaboration

2025-11-07 19:58 Last Updated At：20:13

Project Cost Management Forum promotes cost-effectiveness of construction projects

The Development Bureau (DEVB) held the Project Cost Management Forum 2025 today (November 7). With the theme "Construction New Normal: Co-defining Cost-effectiveness", the forum explored how to enhance the cost management and cost-effectiveness of construction projects through optimised procurement strategies and the application of innovative technologies.

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Project Cost Management Forum promotes cost-effectiveness of construction projects Source: HKSAR Government Press Releases

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Project Cost Management Forum promotes cost-effectiveness of construction projects Source: HKSAR Government Press Releases

In his opening remarks, the Deputy Financial Secretary, Mr Michael Wong, said that the Government is pressing ahead with infrastructure investment, which drives economic growth, job creation, talent attraction, and enhances long-term competitiveness. He noted that in the coming few years, the annual capital works expenditure will be about $120 billion, with an additional $30 billion set aside for small and medium-sized projects. Mr Wong also expressed gratitude to the Project Strategy and Governance Office of the DEVB for promoting a culture of "Fitness-for-Purpose, No Frills" and helped save about $190 billion across more than 540 projects over the past nine years.

Speaking at the forum, the Secretary for Development, Ms Bernadette Linn, said that the DEVB has been actively fostering a culture of cost-consciousness within the construction industry and has implementedwhole-process project cost governanceat various stages of public works projects to ensure the careful use of public funds. With the rollout of major developments like the Northern Metropolis and an increased capital works investment by the Government, this cost-consciousness mindset is more critical than ever. The Government is planning ahead with an "ownership" mindset to comprehensively evaluate the cost-effectiveness of different implementation proposals and review site selection, usage mix, the scale of the project, design, implementation programme etc, in the very upfront stages, to formulate practical and cost-effective proposals. The Government also fully embraces the integration of technological and industrial innovation to enhance productivity, and is keen to uplift the capabilities of a diverse construction talent pool, promote knowledge exchange and strengthen collaboration with Mainland and international partners, thereby reinforcing our role as international infrastructure centre.

Afterwards, the Permanent Secretary for Development (Works), Mr Ricky Lau, delivered a keynote speech. He said that to reduce construction costs for public works and expedite project delivery, the DEVB is advancing reforms in four areas: optimising the project procurement model, applying advanced technologies, streamlining the approval process, and reviewing the design standards and requirements. These cost-control measures are being rolled out progressively to ensure that policies are targeted, practicable and capable of delivering sustained results.

At the forum, Mr Wong and Ms Linn witnessed the exchange of a Memorandum of Understanding (MOU) between the DEVB of the Hong Kong Special Administrative Region Government and the Ministry of Finance of Singapore. The MOU aims to enhance exchanges of professional knowledge and experience in managing and delivering infrastructure projects. It facilitates collaboration between the two places, improves project delivery models through the promotion of digitalisation and the adoption of innovative construction methods. It also strengthens the leadership and delivery capabilities of project leaders, thereby boosting productivity and performance in the construction industries of both places.

The forum brought together expert speakers from different places to share practical experiences in reform and innovation. Among them, the Executive Director of the Centre for Public Project Management under the Ministry of Finance of Singapore, Mr Low Chian Siong, elaborated on institutionalising cost control and implementing outcome-based procurement; the Head of Planning and Cost Control at Public Works Authority "Ashghal" of the State of Qatar, Mr Mohammed Bader Alnama, introduced centralised procurement and digital monitoring mechanisms adopted for large-scale infrastructure projects; and the Secretary-General of the GuangDong Engineering Cost Association, Mr Xu Xiyan, shared how cost management can be better aligned with regional policies. Over 400 representatives from government departments, engineering consultancies, contractors and professional bodies from Hong Kong, the Chinese Mainland, Singapore, Qatar, the United Kingdom and more participated in the forum both online and offline.

Financial Secretary Celebrates Cathay Pacific's 80th Anniversary and Future Opportunities for Hong Kong

Speech by FS at Cathay 80 Years Together Dinner

Following is the speech by the Financial Secretary, Mr Paul Chan, at Cathay 80 Years Together Dinner this evening (September 15):

Guy (Chair of Cathay Group, Mr Guy Bradley), Deputy Director Zhang Yong (Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region), Deputy Commissioner Li Yongsheng (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), Ronald (Chief Executive Officer of Cathay Group, Mr Ronald Lam), Consuls-General, distinguished guests, ladies and gentlemen,

Good evening.

It is a great pleasure to celebrate Cathay Pacific's 80th anniversary with you. Tonight, we celebrate not only an airline, but a journey that belongs, in a very special way, to Hong Kong.

From Betsy, your pioneering DC-3, to today's global network, Cathay has grown together with Hong Kong. Even your name speaks of ambition: "Pacific" expressed the dream of crossing that vast ocean, long before the airline could do so. That spirit - starting modestly, thinking boldly and looking outwards - is unmistakably Hong Kong.

For generations, Cathay has been part of life's most meaningful journeys: the first trip abroad, departure for university, a business venture and a long-awaited reunion. And for returning travellers, that familiar welcome on board brings a comforting feeling: home is already a little closer.

Of course, your journey had difficult chapters. During the pandemic, the Government's support reflected our determination to safeguard Hong Kong's status as an international aviation hub and our confidence in Cathay's role within it. That was an investment in our shared future. And it was your people - their professionalism, perseverance and dedication - who helped turn confidence into recovery.

Your work matters far beyond air connections. For Hong Kong, every new route is another opening for trade, investment and opportunity. This is our "super connector" role in practice: bringing businesses to markets, and people to one another.

Looking ahead, the National 15th Five-Year Plan explicitly supports Hong Kong in consolidating and enhancing our status as an international aviation hub. We are determined to translate that support into greater capacity, wider reach and lasting economic benefits.

Our Three-Runway System and newly opened Terminal 2 facilities provide more room for growth. The Airport Authority's expanded Airport City development, SKYTOPIA, will further strengthen our airport's appeal - as both a gateway and a destination.

With these developments, the Government is pursuing new air services agreements and expanded traffic rights, particularly with partners in the Middle East, Central Asia, Africa and South America. These efforts will give airlines more opportunities to expand their networks through Hong Kong and strengthen our Belt and Road connections.

Cathay's plan to launch direct flights to Almaty, Kazakhstan, in January 2027 is a welcome example. It will open a new gateway to Central Asia, creating opportunities for business, tourism, cultural exchanges and deeper friendship between our communities.

As the Government opens the way for wider air links, I encourage Cathay to seize these opportunities and add new destinations to your network.

In an uncertain world, we must pursue these opportunities with prudence as well as confidence. The case for bringing people together and opening up new markets is stronger, not weaker.

Cathay's commitment of around HK$150 billion to aircraft, cabins, lounges and digital innovation is a vote of confidence in Hong Kong's future. I look forward to seeing that investment deliver better journeys for passengers, rewarding careers for local talent, and fresh possibilities for our city.

As Hong Kong's home carrier, you are an ambassador for the city. For many visitors, their first impression of Hong Kong begins with your welcome, before they ever see our skyline. Safety without compromise, service with care and respect, onboard dining experience worthy of Hong Kong's reputation, and professionalism in every detail: these are the qualities that earn trust and make Hong Kong proud.

And, ladies and gentlemen, I am sure passengers would be delighted to see one more thing: your excellent service accompanied by equally attractive fares. Guy and Ronald, I shall leave that in your capable hands.

Happy 80th anniversary, Cathay Pacific. May you continue to bring the world closer to Hong Kong, and Hong Kong closer to the world - and wherever you fly, carry the warmth, ambition and spirit of this city with you. Thank you very much.

Project Cost Management Forum 2025 Focuses on Cost-effectiveness in Construction Through Innovation and Collaboration

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