The Hong Kong Shipowners Association (HKSOA) has welcomed the many new initiatives in the 2026-27 budget promulgated by the Financial Secretary.Many of the association’s recommendations have been accepted by the government:• provision
The Hong Kong Shipowners Association (HKSOA) has welcomed the many new initiatives in the 2026-27 budget promulgated by the Financial Secretary.
Many of the association’s recommendations have been accepted by the government:
• provision of tax concession for eligible commodity traders;
• introduction of a new incentive scheme for green fuel-powered vessels registered in Hong Kong;
• enhancement of the ship registration regime with a dual registration system;
• launch of more large-scale maritime events in Hong Kong in collaboration with global maritime organisations; and
• the drive for green shipping investment, smart logistics and digital transformation, to consolidate Hong Kong’s position as an international finance, shipping and trade centre, as set out in the National 15th Five-Year Plan.
HKSOA Chairman Richard Hext said: “We welcome the new initiatives and financial incentives of the Administration. In recent years, owing to geopolitical developments and global decarbonization trends, Hong Kong’s maritime sector is facing many more challenges. We are therefore pleased that the Administration is dealing with these issues, in the interests of both Hong Kong and the industry.
“As talent development is a crucial topic for the industry, we urge the Administration to also review and expand the scope of the
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