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Budget Speech

Agriculture and Fisheries

104. To encourage the upgrading and sustainable development of the agricultural and fisheries sector, we have launched two pilot schemes under the Sustainable Agricultural Development Fund (SADF) and the Sustainable Fisheries Development Fund (SFDF) respectively, to provide subsidies for the local agriculture and fisheries industry to adopt new technologies, such as hydroponic technology, smart farm management, advanced livestock waste treatment technology, deep sea mariculture and shellfish and crustacean farming, etc., with a view to further promoting modernisation of the industry and enhancing its competitiveness as well as fostering the transfer of knowledge.  I propose making two separate injections of $500 million each into the SADF and the SFDF, as well as expanding the coverage of the funds and streamlining the application procedures as appropriate. This will support the development of the industry in terms of application of advanced technology and intensification of production, and help it seize the opportunities arising from the GBA development.

105. We will continue to take forward the measures under the New Agriculture Policy, including the establishment of the Agricultural Park (Agri‑Park) in Kwu Tung South in the New Territories.  The Agri‑Park Phase 1 will provide about seven hectares of agricultural land.  The works are expected to complete in phases from the second quarter of this year to 2023.  As for Phase 2, the preparatory work has commenced and the project is expected to provide about 70 hectares of agricultural land.



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