February 26, 2024

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HK pushes for tech talent in new sectors

Over the past year, Hong Kong has suffered many blows owing to political factors, whose impact was augmented by the novel coronavirus outbreak.

To help companies return to normalcy and to accelerate research and innovation capabilities within the country, Hong Kong decided to augment its technology talent admission scheme.

It was noted that the scheme has been amended to “add six new technology areas to the existing seven technology areas covered by the scheme and extend coverage to all companies conducting research and development activities within the eligible technology areas.”

The technology talent admission scheme was originally launched in 2018, rolled out by Hong Kong’s Innovation and Technology Commission (ITC) to help companies involved in research and innovation work in the country attract and employ foreign talent.

Initially, the scheme covered tenants and incubates the Hong Kong Science and Technology Parks Corporation (HKSTPC) and Cyberport Management Company Limited (Cyberport) in artificial intelligence, biotechnology, cybersecurity, data analytics, financial technologies, material science, and robotics.

Now, with the update, the need to have a presence in HKSTPC or Cyberport has been eliminated, making the scheme available to a wider range of companies involved in research & development activities.

The new areas that the update concerns itself with are 5G communications, digital entertainment, green technology, integrated circuit design, internet of things (IoT), and microelectronics.

Although the scheme makes it possible for companies to acquire and onboard talent more quickly (two weeks versus up to six weeks under regular visa application processes), it does require companies to hire a proportionate number of local talents – but this is done at the initial quota application stage rather than each time a visa is issued.

Over the next few months, as the world battles the COVID-19 outbreak, and Hong Kong deals with obstacles hindering its path to normalcy and accelerated progress with technology, the upgrade to the talent program is expected to provide quite an incentive.

Hong Kong is a great destination when it comes to technology innovations because of its ability to attract talent from the West as well as from the Mainland, fostering collaboration among teams and creating opportunities for exciting innovations that are out of the ordinary in most cases.

The country has been producing a strong pool of fresh talent from its universities as well, which will have better opportunities to train and grow their skills under the management and through the mentoring provided by overseas talent brought into the country.

One advisory was positive about the scheme’s upgrade – but the government might need to further incentivize businesses to take on the offer and make the necessary investments in their operations at this time.

Another article stated that Hong Kong has been considered an emerging digital powerhouse thanks to its growing technology capabilities, digital advances, and innovative breakthroughs.

The unprecedented growth of its technological means has helped position the city’s digital economy as one of the most progressive in the Asia Pacific – but its e-commerce and e-payment markets are yet to truly flourish like those of its neighbours, Singapore and Indonesia.

Interestingly, Hong Kong is saturated with a wide range of physical retailers and services which can be easily accessed and, as such, its citizens haven’t surged online to buy their goods like many other parts of APAC.

However, with the current pandemic forcing would-be shoppers indoors, while those venturing out for groceries are exercising extra caution, both Hong Kong’s e-payments and e-commerce sectors are benefiting – as well as the last-mile logistics market that supports the latter.

While Hong Kong is still in lockdown, the preference for digital services is expected to continue as citizens adapt to these new means.

Concurrently, to support the surge in online activities and ensure businesses scale up their operations effectively, the city is expected to expand its network capabilities through 5G and cloud facilities.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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