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HK Govt Purportedly Explores Lower Northern Metropolis Construction Costs, Mulls New Labor Importation Model
2026-09-14 13:15:05 The Hong Kong government will release its first Five-Year Plan and a new Policy Address this Wednesday (16th). A Ming Pao column article said the Northern Metropolis is one of the key focuses. To accelerate the development of the Northern Metropolis, the government is reducing construction costs through various methods, including lowering land costs and streamlining procedures. The government is also exploring the introduction of a new labor importation model in the Northern Metropolis. Government sources said current labor importation schemes determine wages based on median salary levels, making it impossible to lower costs. However, the issue is highly controversial and requires discussions with the labor sector, and is believed unlikely to be included in the Policy Address. Current labor importation schemes contain many conditions and may not suit the development needs of the Northern Metropolis, the article cited government personnel as saying. For example, the labor importation scheme for the construction industry mainly applies to public works contracts valued at no less than HKD1 billion. Another government source said existing labor importation schemes set foreign worker wages according to median salary levels, way more than wages in workers' places of origin, creating loopholes and failing to reduce Northern Metropolis construction costs. ~ AASTOCKS Financial News Website: www.aastocks.com | |