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Hong Kong Budget Review - Business Lunch 23rd March |
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 HKABA-SA Chapter recently held the Hong Kong Budget Review on 23 March 2009. Mr Graeme Walters, South Australian Chairman of the Westpac Bank Board, welcomed guest speaker Mr David Yip, Deputy Director Hong Kong Economic Trade Office Sydney to review the HKSAR Government annual budget.
Mr Yip highlighted the multi-pronged strategy to minimise the impact of the global financial crisis and secure Hong Kong’s economy over the coming long term. Approximately 38 guests & members attended the briefing.
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 The blue print for Hong Kong’s finances over the next 12 months includes measures to tackle both immediate and long term challengers by creating jobs, fostering economic development and building a caring community. The budget has also been designed to boost Government investment in a highly-skilled work force, and so strengthen Hong Kong’s position as a leading international financial centre. |
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Protecting and simulating employment is a priority and the Budget has a raft of measures including a AUD80 million package for workforce training and job opportunities; AUD28 million to help graduates entering the job market and AUD220 million plan to create about 62,000 new jobs and internship opportunities. |
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To enhance Hong Kong’s overall competitiveness there is an AUD86 billion capital works expenditure programme for 2009-10 in new infrastructure projects that will be fast tracked into completion. The total budget expenditure will exceed AUD60 billion next year and this has been designed to ease the pressure of economic contraction, boost domestic demand and increase employment opportunities. |
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