Construction Sector

An Expert's View about Building Products and Construction in Hong Kong SAR

Posted on: 15 Mar 2012

The total value of infrastructure projects approved by the Hong Kong SAR Government is worth £33 billion. The annual expenditure on capital works for 2012-13 is estimated at £5 billion.

Construction Sector in Hong Kong Hong Kong continues to be an important market for the UK construction industry. British standards, market openness and a strong presence of British engineering consultants, master planners, architects and contractors have helped to reinforce UK?s presence in Hong Kong. The Hong Kong marketplace and indeed Asia are increasingly demanding international quality of design and engineering and recognising the value of sustainable development. British expertise in delivering sustainable design solutions that reduce the carbon footprint of construction and operation should be in great demand. Hong Kong has many exciting opportunities in its own right. Hong Kong is also an excellent platform for pursuing project opportunities in China and the emerging markets in the region Market overview The total value of infrastructure projects approved by the Hong Kong SAR Government is worth £33 billion. The annual expenditure on capital works for 2012-13 is estimated at £5 billion and is expected to increase to more than £5.8 billion per year in the coming years. Key opportunities Large scale projects include Kai Tak Development (including a sports hub and major hospitals), West Kowloon cultural hub, Hong Kong-Zhuhai-Macao Bridge and associated Hong Kong projects, urban regeneration (including developing Kowloon East into a premier business district that provides an additional 4 million m2 of office space), heritage conservation projects, sewage and waste management facilities and new development areas. A proposal to build the third runway is also under active planning. Latest export opportunities - Construction Latest export opportunities - Hong Kong Getting into the market ? Hong Kong became a signatory to the World Trade Organisation (WTO) Agreement on Government Procurement in May 1997 and is committed to providing open and fair competition ? There is no discrimination between local and foreign bidders. ? Open and level playing field ? Local and overseas contractors and suppliers are treated on an equal footing in the procurement of construction works. ? Government and public corporations all adopt WTO?s Government Procurement Agreement rules. Best value for money with weighted technical / commercial assessment as appropriate is applied. ? New contractors are being encouraged to work in Hong Kong. ? Structure contract packages according to market status. ? Contractors to be employed who can best manage risk, programme, construction and safety ? Technical and regulatory standards are broadly similar to those of the EU ? Finding a local partner is critical. More about doing business in Hong Kong Contacts Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS). To commission research or for general advice about the market, get in touch with our specialists in country - or contact your local international trade team. ? Tony Yu, British Consulate General Hong Kong. Tel: +852 2901 3259 or email: tony.yu@fco.gov.uk ? Stephanie Li, British Consulate General Hong Kong. Tel: +852 2901 3175 or email: stephanie.li@fco.gov.uk Contact your local international trade team Events Event: Build4Asia Date: 4- 6 June 2012 Website address: www.Build4Asia.com Event: Asian Attractions Expo Date: 5- 8 June 2012 Website: www.iaapa.org/AsianAttractionsExpo Latest events - Construction Latest events - Hong Kong Useful links More about OMIS and other UKTI services for exporters
Posted: 15 March 2012

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