The Cyberport will be built on a piece of reclaimed land of roughly 26 hectares at Telegraph Bay in Pok Fu Lam of the Hong Kong Island.
The Cyberport project is an important information infrastructure project which aims to create a strategic cluster of leading information technology (IT) and information services (IS) companies and a critical mass of professional talents in Hong Kong in the shortest possible time. In the Cyberport, there will be a high quality working and living environment to attract multinational companies and overseas talents. Local companies and their personnel can work in their proximity. The environment will be conducive to creative thinking and exchange of ideas among like-mined people.
The companies in the Cyberport will specialise in the application of advanced information technology to the development of services and multimedia content. It will consolidate Hong Kong's position as an information and technology hub, and will also create an international multimedia and information services centre. The Cyberport will bring wider benefits.
The Provisional Hong Kong Science Park Company Limited was incorporated in May 1998 to plan, develop and manage the Science Park in Hong Kong, pending the establishment of the statutory Hong Kong Science Park Corporation.
The objectives are to help local industry move up the technological ladder, stimulate the growth of locally-owned technologically advanced businesses, promote new technology-based activities, foster technology transfer and facilitate regional co-operation in technology development. The Science Park will be developed in three phases over 15 years on a 22-hectare site at Pak Shek Kok, Tai Po.
Among other initiatives to strengthen support for Hong Kong's manufacturing and service industries developing high value-added activities, the Chief Executive announced in his 1998 Policy Address the establishment of an Applied Science and Technology Research Institute (ASTRI).
It will support midstream research and development. The government has already set up a task force to look into the planning parameters for the project. The target is to start the consultancy study for planning the ASTRI in 1999.