Hong Kong, one of the world’s busiest ports, is launching a pivotal Maritime and Port Development Board, a high‑level advisory body to assist the government in formulating policies and long‑term development strategies.
Chief Executive of Hong Kong John KC Lee said the existing Hong Kong Maritime and Port Board will be reconstituted into the “Hong Kong Maritime and Port Development Board”, as the city is taking a multipronged approach to consolidate its status as an international shipping centre.
To be chaired by a non‑official member, with other members largely from the maritime sector, the new body will be underpinned by dedicated staff to undertake research and publicity work.
Additional funding will be provided to enhance its research capabilities, strengthen its mainland and overseas promotional work and step up manpower training, supporting the government in policy implementation more effectively, and promoting the sustainable development of Hong Kong’s maritime industry, he said during his 2024 Policy Address.
Its establishment is among a raft of measures unveiled last week to bolster Hong Kong’s maritime sector.
The Hong Kong Shipowners Association (HKSOA) has come out in support of the government’s plan to enhance its Institutional Framework, with the re-constitution of the existing Hong Kong Maritime and Port Board into the “Hong Kong Maritime and Port Development Board’.
“It has been the consensus of the industry for many years that an independent, industry-led body is needed for Hong Kong. The appointment of a non-official to take up the chair of the new organization and the strengthening of its research, promotion and talent development functions are certainly the right step forward,” it said last week.
The government also said it aims to attract maritime service enterprises by enhancing and promoting tax concessions.
The government has been encouraging more shipping commercial principals and maritime service enterprises to establish presence in Hong Kong by providing tax exemptions for ship leasing business and offering half‑rate tax concessions for marine insurance, ship management, ship agency and ship broking.
“To strengthen the local maritime ecosystem, we will step up promotion of existing tax concessionary measures for maritime services and enhance the preferential tax regime,” John KC Lee added.
Additionally, incentives will be offered to encourage green maritime fuel usage, and an Action Plan on Green Maritime Fuel Bunkering will be launched by the end of this year to develop a green maritime fuel bunkering centre.
He added that offering green fuel bunkering facilities will provide green ships with smart information concerning navigational safety, and enhance the ship monitoring systems to ensure safety during fuel bunkering.
