YPSN: Maritime industry needs future direction in Hong Kong
March 28, 2013 Category Logistics, Ports & sea transport
A blueprint setting out the future direction of Hong Kong’s maritime industry should be prepared and the government should then commit to implementing the plan if Hong Kong is to stave-off competition from other regional shipping sectors. The proposal, which includes signing more double tax agreements with potential trading partners, tax incentives for companies planning to incorporate in Hong Kong, and subsidized training, was made by the directors of the Young Professionals in Shipping Network (YPSN). “The government needs to first commit to a plan for the industry,” said Su Yin Anand, one of the group’s three Directors. “After that, an independent Ministry for Transport covering maritime, logistics, and aviation should be set up to focus on developing these industries. Anand said increasing costs and lack of talent were among the challenges facing Hong Kong’s maritime sector. Another was lack of government support in promoting the city as a transport hub, resulting in Hong Kong being eclipsed by Singapore, Shenzhen and Shanghai. Co-founder Tabitha Logan said the government had recently begun to take note of the maritime sector in Hong Kong. The group’s third Director, Marija Pospisil said that to attract and retain the best talents to the sector, both locally and from abroad, more effort should be made to promote shipping as one of the pillars of Hong Kong’s economy. Hong Kong owners, operators and managers control about 10% of the world’s merchant tonnage, while the Hong Kong shipping register is the world’s fourth-largest with ships totaling 80 million gross tons flying the Hong Kong flag. Reports are expected on ways to develop Hong Kong as an international maritime center, a Hong Kong 2030 port master plan, and on Hong Kong’s role as a regional distribution center, all by consultant BMT Asia Pacific. The maritime center report was already submitted to the Transport and Housing Bureau while the other two are expected to be lodged with the Port Development Council and Trade Development Council later this year. The young professionals said it was too early to say if there had been a change in the government’s attitude to the maritime sector since Leung Chun-ying became Chief Executive “though there have been positive indications”.
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