Secretary for Development Bernadette Linn Hon-ho shared the update on the planned framework on Sunday, days after the city’s latest budget sought to allocate HK$30 billion (US$3.8 billion) for the megaproject set to span 30,000 hectares (74,130 acres) in the New Territories.
Authorities will seek Legco’s approval to set aside HK$10 billion as initial capital for the development of the Hetao Hong Kong Park, HK$10 billion for the San Tin Technopole and another HK$10 billion for the Hung Shui Kiu Industry Park.
The legal framework, meanwhile, is expected to be discussed at a meeting of Legco’s development panel on March 24.
Linn said the provisions would be drafted in a “relatively flexible” manner to accommodate works that could span more than a decade.
“The provisions will not be drafted in exhaustive detail … it is primarily to remove barriers and streamline procedures for development and planning,” she told a radio programme.
She stressed that the law would focus on “empowering” the government to introduce subsidiary legislation or to exercise its powers when necessary.
