(Yicai Global) April 22 -- Hong Kong expects to invest well over HKD1 trillion (USD128 billion) over the next 10 years to build infrastructure for the transport, medical and housing sectors, according to the special administrative region's chief secretary for administration.

Hong Kong's construction industry will continue to thrive and annual spending on infrastructure will be between HKD250 billion (USD32 billion) HKD300 billion over the next half decade, Matthew Cheung said on his government blog yesterday.

Cheung, known as Cheung Kin-chung in Cantonese, believes the local construction industry is currently undergoing problems with high costs and a shortage of manpower, he said, adding that the local government will ramp up staff training and encourage the sector to adopt innovative technologies that can enhance productivity and cost-effectiveness.

The city will allocate HKD200 million (USD25.5 million) of its annual budget toward expanding apprenticeships to cover a larger variety of construction fields with a labor shortage, Cheung said. It will also promote pre-fabricated modular buildings to reduce the need for construction workers, ensure high quality and timely project completion, reduce waste and enhance on-site safety.
Hong Kong is also planning to bring in electronic identification next year, part of the first phase of the region's Smart City Blueprint, which was announced at the end of 2017, he added.

These projects can all improved residents' livelihoods and the city's future, and Cheung hopes that they will garner support from their funding applications, he said.

Editor: James Boynton