Date
23 March 2017
Hong Kong needs to enhance its logistics and shipping industry to compete better with Singapore, says Tung Chee-chen. Photos: HKEJ, Bloomberg
Hong Kong needs to enhance its logistics and shipping industry to compete better with Singapore, says Tung Chee-chen. Photos: HKEJ, Bloomberg

Tung Chee-chen urges more support for shipping sector

Orient Overseas International (00316.HK) chairman Tung Chee-chen has urged the government to support the logistics and shipping industry by providing land for construction of more piers and terminals.

The industry’s prospects are being constrained by the limited number and scale of the existing facilities, Tung said, according to the Hong Kong Economic Journal.

The sector needs to boost its efficiency to compete better with the rival regional transportation hub Singapore, he said.

The comments came as Hong Kong’s logistics and shipping industry is facing difficulties in building new cargo terminals due to high land premium and other costs. 

In other remarks, Tung raised concerns over the city’s soon-adopted competition law, saying it could put pressure on the shipping industry and prompt firms to seek other alternatives in the region.

He called on authorities to exempt the industry from the new law, which is set to take effect on December 14. 

[Chinese version中文版]

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