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 Speaking at the Pan-Pearl River Delta (Pan-PRD) Regional Co-operation and Development Forum held in Hong Kong on June 1, the Hong Kong Chief Executive, Mr Tung Chee Hwa, outlined steps for strengthening regional synergy.
Speaking of the potential of the partnership, Mr Tung said, “Despite being a regional project within a single country, the Pan-PRD group is comparable to the 10-nation ASEAN in terms of its population, size of economy, total volume of external trade and intake of foreign investment.”
He expanded on ways for the Pan-PRD regional partnership to move forward. The first direction comprises the establishment of a unified and open market system under the ‘One Country, Two Systems’ principle. “To this end, we need to step up the unified planning, construction and co-ordination of regional infrastructure, expediting the construction of a comprehensive cross-border transportation network, and accelerating a number of key infrastructure projects,” said Mr Tung.
Another important direction involves raising the level of opening up to allow regional enterprises to participate more fully in international competition and co-operation.
The third direction will be supporting the co-ordinated development of the regional economy with a view to realising mutual benefits. For example, speeding up the application of new technology, facilitating the structural adjustment and upgrading of industry and creating a cluster of superior industries.
Mr Tung also discussed the long-standing economic bonds between Hong Kong and the PRD. “The major driving force behind closer co-operation between Hong Kong and other Pan-PRD provinces comes from the unique and different advantages each of us possesses,” he said. Hong Kong boasts advantages in the areas of capital, finance, information, services and marketing and can serve as a high value-added services centre to help upgrade the regional economy.
Mr Tung further outlined Hong Kong advantages specific to the regional partnership, such as its competitive financial sector, prominent logistics capabilities, rich tourism resources and opportunities for collaboration in accounting, auditing, legal, engineering design, information consultation, investment consultation and other professional services.
Mr Tung urged his fellow partners to work together to build a better future for the Pan-PRD, saying, “A successful Pan-PRD regional collaboration will give a tremendous boost to the economic strength, status and influences of various provinces and help realise the objective of co-ordinated regional development”.
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