Secretary for Commerce, Industry and Technology, John Tsang, said yesterday that the government was not likely to provide tax incentives and subsidies for manufacturers interested in investing in the Special Administrative Region (SAR) because the territory was unlikely to develop into an industrial hub.
Speaking to the media for the first time since taking up the post, Tsang said although the Closer Economic Partnership Arrangement (Cepa) had increased local and foreign investors' interests in moving production to Hong Kong, this was unlikely to turn the territory into a major industrial centre.
Instead, the territory would continue to attract small- to medium-sized enterprises (SMEs) focusing on value-added, high technology, innovative services.
