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Seven measures will be introduced to ease employment pressure and create more training and job opportunities for graduates, Chief Executive Donald Tsang says.
Speaking after the Task Force on Economic Challenges meeting today Mr Tsang said the Buildings Department will be given additional funding of $18 million to launch a one-year special operation to remove 5,000 abandoned signboards. The move will offer 170 posts and will improve public safety and help beautify the city.
The Development Bureau is now forming the details of an old building repair programme with the Housing Society and Urban Renewal Authority.
Research posts
The funding scope of the Innovation & Technology Fund's internship programme will be extended. It will not only cover eligible universities and scientific research centres but also private enterprises.
In the coming two years the fund will increase the number of its annual application invitation exercise from one to three. The funding limit of the fund's Small Entrepreneur Research Assistance Programme will rise from $2 million to $4 million. These modifications will create an additional 600 intern places.
The Employee Retraining Board will provide at least 143,000 training places this year for job seekers and the unemployed.
University career counselling units will enhance services in further study, apprenticeship, and employment. Tertiary institutions will also increase their teaching assistants, research assistants and researchers.
The institutions will provide extra programmes to offer continuous training opportunities for professionals and middle- to senior-rank job seekers.
Internship places
More than 20 statutory bodies including the Hospital Authority, Ocean Park, the Vocational Training Council and Housing Society will recruit 6,000 people this year and will offer 2,000 temporary posts or internship places.
Chambers of commerce will launch internship programmes and encourage their members to provide internship places. Some chambers plan to offer more than 800 temporary posts. The Government will continue its discussion with chambers and universities on the implementation of the internship programme.
The Government has also asked the Hong Kong Chinese Enterprises Association to make arrangements for university graduates to receive training or take up internship assignments on the Mainland.
Economy promotion
On stimulating the city's economy, the Government will organise a series of major events and world-class programmes to promote tourism and retail trade. It will promote the coming East Asian Games and the activities celebrating the 60th anniversary of the establishment of the People's Republic of China.
On the community level, the Lands Department has complied a list of vacant Government land that can be used for short-term leases by non-government organisations. The land will be used for community projects and the Government will only charge nominal rents. Organisations interested can liaise with district officers who will help them with the co-ordination work.
On the Framework for Development & Reform Planning for the Pearl River Delta Region, which the National Development & Reform Commission released earlier this month, Mr Tsang said a co-ordinating group will be formed to expedite the implementation. The group will formulate a plan to support Hong Kong's long-term development.
Corporate rescue
Mr Tsang said the Government will restart its study on the introduction of a corporate rescue procedure. The proposed procedure will help companies with short-term financial difficulties yet have long-term viability.
"The suggestion was put forward to the sector and lawmakers for discussion a few years ago but no agreement could be reached. The fiscal turmoil brought about the opportunities for the city to try to reach a comprised proposal so the legislation of the rescue procedure can be re-launched," Mr Tsang said.
Secretary for Financial Services & the Treasury Prof KC Chan said his bureau will start the study immediately and will learn from the experience of a number of common law jurisdictions which have recently revised their corporate rescue legislation.
It will revise the previous proposal and will work closely with the Labour & Welfare Bureau. It will listen to views from experts, stakeholders and the public to make the revised proposal more practical.
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