B. Undertaking 10 Major Infrastructure Projects for Economic Growth
18. Infrastructure development can bring about huge economic benefits. Both employment opportunities and wages will increase during the construction stage, and, upon completion, the infrastructure projects will boost economic activities and improve the living environment.
19. In promoting infrastructure development, our efforts over the past decade did not match expectations. Overall expenditure on infrastructure for this year may well be the lowest in recent years. To address this problem, the recently established Development Bureau in the reorganised Government Secretariat will co-ordinate major infrastructure projects. I will push ahead with 10 large-scale infrastructure projects within my term of office. These projects will not only expand the room necessary for Hong Kong's further development, but also improve our transportation, thereby linking up our socio-cultural and business activities with more efficient transportation systems. More importantly, with closer rail and road transport links between Hong Kong and the neighbouring regions of Shenzhen and the Pearl River Delta (PRD), we can foster further cross-boundary integration. These infrastructure developments will consolidate Hong Kong's status as a global city and lay a new foundation for our sustained development in the future.
20. A rough estimate of the added value to our economy brought about by these projects, from commissioning to a mature stage, would be more than $100 billion annually, amounting to some 7% of our GDP in 2006. In addition, some 250 000 additional jobs would be created. Details of the projects are:
