The Time is Now! <\/span><\/h3>\n\u201cLet\u2019s rather be part of the solution,\u201d Cheng begins. \u201cLook at the challenges and let\u2019s see what can and must be done to overcome them. Talent. We need to attract and retain world-class talent particularly in the areas of technology. Simultaneously, as a society we need to infuse our young with the correct picture of the importance of and promise offered by the industrial sector \u2013 the real, quantifiable promise of adventure and a better future for us all.\u201d<\/span><\/p>\nHe adds: \u201cWe need to invest more in R&D and in SMEs that account for over 90% of Hong Kong entrepreneurs. Our FHKI \u201cThe Only Way is Up! I\u2019m a Believer!\u201d Hong Kong\u2019s leap has always been higher than its hurdles. Toasted globally for its resilience, the spirit of success against all odds will continue to add lustre to this spectacular Pearl of the Orient, says Prof. DANIEL M. CHENG, Chairman of the FEDERATION OF HONG KONG INDUSTRIES. Ir Prof. Daniel M. Cheng: \u201cIf we all putting our hands on the wheel and not against it, we can achieve progress beyond our wildest dreams. Let\u2019s do it. Now!\u201d Picture by Randy Wong export-orientated manufacturers have to look at emerging markets in the Middle East of Eastern Europe and of course, we all need to embrace the agility and convenience of e-commerce,\u201d explains Cheng. <\/span><\/p>\nFalling in Step \u201cTraditionally, our manufacturing sector has been solidly reliable partly because it was set in its ways. Admirable, alas competition calls for re-industrialisation brought about by high-end, new technology, smart production and record efficiency. We have to focus more pointedly toward fostering our development of innovation and technology, offer more government subsidy to facilitate the fruition of dreams and enhance the cohesion between government, academia, industries and the research sector. The HKSAR Government\u2019s initiative to set aside HKD100 million every year to support the key laboratories and research centres in Hong Kong set up by the Ministry of Science and Technology.\u201d says Cheng. <\/span><\/p>\nWhat more can we do though? <\/span><\/h3>\n\u201cWe could look at triple tax deduction for R&D expenses like Singapore, Australia and South Korea offer because this gives the most effective and direct incentives without requiring additional governmental expenditure.\u201d<\/span><\/p>\nWhatever steps Hong Kong takes to boost its industrial sector right now, won\u2019t be too early, according to Cheng. \u201cWhat we do today, will have long term benefits so we have to make quick, qualitative, smart decisions that will keep up in the lead.\u201d<\/span><\/p>\nKeys to Success <\/span><\/h3>\n\u201cTechnology is the driving force. Industry 4.0 is seeing major economic formulating industrial strategies with advanced manufacturing technologies and new production modes so we too need to proactively plan and commit resources to promote industrial transformation, upgrade and build the most efficient supply chain in the Pan River Delta. We have to upgrade in the Internet era and not just focus on making products. We have to strengthen our innovative production accompanied by social media marketing, online sales channels and after-sales online support.\u201d<\/span><\/p>\n![\"\"](\"http:\/\/www.mediazone.com.hk\/hkmvc\/wp-content\/uploads\/2016\/07\/hkmvc17_FHKI2-1.jpg\")
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Our Strategic Edge <\/span><\/h3>\n
He adds: \u201cWe need to invest more in R&D and in SMEs that account for over 90% of Hong Kong entrepreneurs. Our FHKI \u201cThe Only Way is Up! I\u2019m a Believer!\u201d Hong Kong\u2019s leap has always been higher than its hurdles. Toasted globally for its resilience, the spirit of success against all odds will continue to add lustre to this spectacular Pearl of the Orient, says Prof. DANIEL M. CHENG, Chairman of the FEDERATION OF HONG KONG INDUSTRIES. Ir Prof. Daniel M. Cheng: \u201cIf we all putting our hands on the wheel and not against it, we can achieve progress beyond our wildest dreams. Let\u2019s do it. Now!\u201d Picture by Randy Wong export-orientated manufacturers have to look at emerging markets in the Middle East of Eastern Europe and of course, we all need to embrace the agility and convenience of e-commerce,\u201d explains Cheng. <\/span><\/p>\n Falling in Step \u201cTraditionally, our manufacturing sector has been solidly reliable partly because it was set in its ways. Admirable, alas competition calls for re-industrialisation brought about by high-end, new technology, smart production and record efficiency. We have to focus more pointedly toward fostering our development of innovation and technology, offer more government subsidy to facilitate the fruition of dreams and enhance the cohesion between government, academia, industries and the research sector. The HKSAR Government\u2019s initiative to set aside HKD100 million every year to support the key laboratories and research centres in Hong Kong set up by the Ministry of Science and Technology.\u201d says Cheng. <\/span><\/p>\n \u201cWe could look at triple tax deduction for R&D expenses like Singapore, Australia and South Korea offer because this gives the most effective and direct incentives without requiring additional governmental expenditure.\u201d<\/span><\/p>\n Whatever steps Hong Kong takes to boost its industrial sector right now, won\u2019t be too early, according to Cheng. \u201cWhat we do today, will have long term benefits so we have to make quick, qualitative, smart decisions that will keep up in the lead.\u201d<\/span><\/p>\n \u201cTechnology is the driving force. Industry 4.0 is seeing major economic formulating industrial strategies with advanced manufacturing technologies and new production modes so we too need to proactively plan and commit resources to promote industrial transformation, upgrade and build the most efficient supply chain in the Pan River Delta. We have to upgrade in the Internet era and not just focus on making products. We have to strengthen our innovative production accompanied by social media marketing, online sales channels and after-sales online support.\u201d<\/span><\/p>\nWhat more can we do though? <\/span><\/h3>\n
Keys to Success <\/span><\/h3>\n
<\/p>\nOur Strategic Edge <\/span><\/h3>\n