A global study, done by the Institute for Management Development based in Switzerland, revealed that Hong Kong was fall down from 12th position to 18th position in its competitiveness to attract and foster talents internationally. The same study attributed the fall partly to unimpressive public investment in education.
Looking at how Hong Kong compares with other countries in the same region; Singapore maintains its position from last year, 13th, Taiwan at 27th place and China occupies the 39th position, it has fallen behind Singapore. Switzerland stands top of the log, followed by Denmark and Norway respectively.
The Institute for Management Development used three criteria in the ranking: investment and development of homegrown talents, skills and competencies availability in the talent pool, and the extent to which a country attracts talent from overseas. Hong Kong dropped in all.
Hong Kong’s Response
Responding to the drop, Chief Executive Carrie Lam said she is yet to establish the date of the information used in making the ranking. According to her, it might be a picture of situations of things a year ago; hence not reflective of the huge investment the government has made in education this term.
Lam revealed that education expenditure has been increased by about 10% by her government. A total recurrent expenditure of HK$8.3 billion had been invested across preschool, primary, secondary and tertiary education. She affirmed that education is the best investment any government can make as it is a sure way to nurture talents; hence existing arrangements will be reviewed to achieve quality education.
Jeffrey Lam, a lawmaker representing the business sector, believes the new plans by the government will attract talent to Hong Kong. Yet, he said the country has to do better in immigration policy, tax and leisure facilities in order to get the talents attracted to remain in the country for long.
To get your possible Immigration options, approach ImmigrationNews now, and we will also evaluate your profile with our Immigration experts and advise you whether you are qualified to apply or not.