Hong Kong lawmakers say Northern Territories bill will speed up development
Hong Kong legislators debated the Northern Territories Development Bill, which aims to speed up construction by simplifying planning and compensation procedures. Some lawmakers called for targeted promotion and policy packages for potential investors.
Hong Kong’s Legislative Council continued its second reading debate on the Northern Territories Development Bill on 11 November. The bill outlines six policy areas to facilitate development in the Northern Territories, including simplified urban planning procedures and faster land compensation payments. It also authorises the Chief Executive and the Executive Council to make subsidiary legislation to implement details in these areas.
Lawmaker Lam Chun-sing, representing the Election Committee constituency, said the government had been pragmatic in defining the scope of the facilitation measures covered by the main legislation, applying them where appropriate. He noted that the bill mainly speeds up procedures and does not include financial policies, investment attraction or foreign labour importation for the Northern Territories, adding that he agreed with this approach.
Business sector lawmaker Yiu Siu-fai said Hong Kong must integrate into the nation’s development and become an international innovation and technology hub as well as a gathering place for top global talent. He argued the Northern Territories can provide the necessary foundation, but Hong Kong still needs to work to create an industrial layout of “finance in the south, tech in the north”. He described the bill as an “accelerator” for Northern Territories development.
Insurance sector lawmaker Chan Pui-leung noted the government has already introduced various incentives and used bodies such as Invest Hong Kong to attract large enterprises. He urged the authorities to provide targeted promotion for target companies as development progresses, offering integrated policy packages that include specific legislation, related amendments, administrative measures and tax incentives. This, he said, would help investors better understand the policies, legal framework, advantages and support available in the Northern Territories, and more effectively assist high-potential companies in establishing operations in Hong Kong.