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<Policy>John Lee: Govt to Devise Financing Schemes & Accelerate Dedicated Legislation for Northern Metropolis
John Lee, Hong Kong's Chief Executive, said in his fourth Policy Address that with the overall planning of the Northern Metropolis, it is now the optimal juncture to expedite t...
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<Policy>John Lee: Govt to Devise Financing Schemes & Accelerate Dedicated Legislation for Northern Metropolis
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John Lee, Hong Kong's Chief Executive, said in his fourth Policy Address that with the overall planning of the Northern Metropolis, it is now the optimal juncture to expedite the development of the area, bringing in industries and major projects.

Lee will establish and chair the Committee on Development of the Northern Metropolis, under which the following three working groups will be set up:

Working Group on Devising Development and Operation Models: led by the Financial Secretary, the working group will formulate development and operation models for industry parks in the Northern Metropolis, taking into account their nature and scale. This will include setting up one or more dedicated companies, or statutory or non-statutory bodies, for various industrial parks, devising public-private partnership approaches such as the Build-Operate-Transfer model. It will also explore shifting from "highest bidder wins" to industry-linked "two-envelope approach" for tendering. The government will devise a range of financing schemes, including equity, bonds, government injections, and "provision of land as a form of capital participation". The Development Bureau (DEVB) is conducting policy study to set up an industry park company for about 23 hectares of industry land at Hung Shui Kiu. The recommendations will be announced this year after reporting to the working group.

Working Group on Planning and Construction of the University Town: led by the Chief Secretary for Administration, the working group will study the development mode for the Northern Metropolis University Town. It will set up a research task force to conduct field trips on the successful models of university towns elsewhere, seeking views from presidents and representatives of local, Mainland, and other internationally renowned universities.

Working Group on Planning and Development: led by the Deputy Financial Secretary, the working group will be responsible for managing the end-to-end process from planning to implementation, co-ordinating and consolidating such aspects as planning, engineering, land, transportation and environmental protection, to promote industry anchoring, create job opportunities and enhance productivity.

In addition, Lee will introduce dedicated legislation to accelerate the development of Northern Metropolis, empowering the government to devise simplified statutory procedures for issues including setting up statutory industry park companies and providing them with dedicated channels for funding; managing the cross-boundary flow of people, goods, capital, data and biological samples in designated areas, to attract research institutes and high-end manufacturers to establish a presence in Hong Kong; speeding up the approval of building plans; relaxing permitted uses in outline zoning plans (OZPs) and fine-tuning development parameters; and expediting compensation payment for land resumption.

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