Opinion | Why Hong Kong must lean into public-private partnerships
- Amid geopolitical tension and intensifying competition from Singapore, a status quo-oriented approach is unlikely to rejuvenate Hong Kong
- The government should strengthen partnerships with the private sector to attract talent, foster innovation and secure Hong Kong’s future
Through this balanced approach, Hong Kong can rebuild international confidence, generate new business opportunities, and channel the creativity, knowledge and resources of the private sector into strategic growth areas.
Public-private partnerships (PPPs) are a key element of Hong Kong’s economic growth strategy. They involve the private sector participating in the supply of assets and services traditionally provided by the government.
By combining the efficiency, flexibility and innovativeness of the private sector with the scale and stability of public services, PPPs can foster economic resilience and growth. In sectors such as transport, healthcare and education, PPPs can deliver high-quality public services, promote capital investment and create jobs.