IFFO holds second Investors’ and Debt Financing Roundtables (with photos)

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) Infrastructure Financing Facilitation Office (IFFO) held the second Investors' and Debt Financing Roundtables on October 25-26, attended by more than 70 senior representatives from international long-term institutional investors, debt financiers, multilateral financial institutions, project owners and developers, and other key stakeholders in infrastructure financing.
 
     The main themes of this year's Roundtables included collaboration and co-investment in emerging markets, and recent innovations to enhance bankability of infrastructure projects, making use of case studies. The Debt Financing Roundtable also discussed IFFO's Reference Term Sheet for Non-Recourse Infrastructure Loans in Emerging Markets, which sets out the basic criteria and financiers' preferences in respect of infrastructure loans' legal framework, compliance with environmental, social and governance standards, risk mitigation measures and financial structuring. The term sheet is aimed to provide project owners and developers with a tool to make their projects more "bankable" and to facilitate private sector financing into projects in emerging markets.

     The Chief Executive of the HKMA, Mr Norman Chan, hosted the two Roundtables. He said, "I am pleased to see the continued strong interest from public and private sector stakeholders at the IFFO Roundtables in infrastructure investments. The discussions on co-investment experiences and on measures that would make infrastructure projects more bankable or investible were very timely. IFFO will continue to serve as a facilitator and catalyst for more effective capital flows into infrastructure projects in emerging market economies."

     IFFO also announced that five new institutions have joined as partners, bringing the total number of IFFO partners to 95. The new partners are (in alphabetical order):

  1. Australia and New Zealand Banking Group Limited
  2. CRRC Corporation Limited
  3. European Bank for Reconstruction and Development
  4. Hong Kong Mortgage Corporation Limited
  5. OMERS

     For more information about IFFO, please visit www.iffo.org.hk.

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Speech by CE at grand opening of International Culinary Institute (English only) (with photos/video)

     Following is the speech by the Chief Executive, Mrs Carrie Lam, at the grand opening of International Culinary Institute (ICI) in Pokfulam this afternoon (October 26):
 
Dr Roy Chung (Chairman of Vocational Training Council (VTC)), Mr Andrew Leung (Chairman of ICI Steering Committee); Mrs Carrie Yau (Executive Director of VTC), distinguished guests, teachers, students, ladies and gentlemen,
 
     I am delighted to join you today for the grand opening of the Vocational Training Council's International Culinary Institute.
 
     I took part in the groundbreaking ceremony for the Culinary Institute in 2014 as the Chief Secretary for Administration. After four and a half years, I must say it's gratifying to be here for the formal opening of this purpose-built teaching and training institute in my new capacity as the Chief Executive. It's gratifying because the results of the planning and remarkable commitment that has gone into bringing this state-of-the-art institute to creative life are simply remarkable.
 
     The beneficiaries are, of course, the Hong Kong students and in-service practitioners eager to become professional chefs. No less important, the beneficiaries are the people of Hong Kong, and all who visit us from around the world to enjoy our great city, the culinary capital of Asia. More than 15,000 restaurants call Hong Kong home, and food and beverage services engage more than 240,000 people in Hong Kong. That speaks resoundingly of the value of our food and beverage industry, and the importance of ensuring a continuing flow of talent to serve Hong Kong.
 
     The Culinary Institute will go a long way toward satisfying that need. Designed to support some 2,000 students, it boasts training kitchens as well as a training café, a wine forum, a hall of gastronomy for event training, a sensory lab for food science education and much more. Equally important, the Institute employs highly qualified teachers with solid industry experience. It also has celebrated international chefs as honorary advisors and an invaluable network of professionals and institutions from Hong Kong and from all over the world. In short, it has what Hong Kong needs to produce talented professionals capable of creating European, Mediterranean, American, Middle Eastern and Asian cuisine. Alongside our Chinese Culinary Institute and the Hospitality and Tourism Institute nearby, there will be a creative confluence of hospitality and culinary education, interaction and collaboration. I am sure that it will become one of the region's leading international culinary institutes.
 
     The Institute's opening underlines my Government's support for Vocational and Professional Education and Training, VPET. Such training offers more than technical and practical knowledge. It also provides whole-person development, soft-skills training and international experience. It aims to equip our students to meet the rising expectations of the industries and of the community.
 
     The Vocational Training Council has, from its very beginning in 1982, served as a valued partner of the Government, building a quality workforce to support Hong Kong's sustainable development. Indeed, the Culinary Institute is one of 13 VTC member institutions. Together, they provide education and training from post-secondary three to degree levels for some 250,000 students a year, enhancing professional knowledge and skills to meet our employment needs in this 21st century of opportunity.
 
     That said, attracting students into vocational and professional training remains a challenge. The value of such training, and the bright prospects it offers our young people with the interest and suitable attributes, is still not fully appreciated by some in our community. With that in mind, my Government established the Task Force on Promotion of VPET earlier this year. Chaired by Roy, the task force will advise on strategies for building closer collaboration between business and our Vocational and Professional Education and Training. The goal is to promote the value of VPET for our youth in the context of a multiple pathway regime. Given your leadership, Roy, I'm sure the Task Force will deliver recommendations that make a decided difference for all concerned.
 
     My Government will continue to work with the Vocational Training Council in providing the latest learning facilities for its students. Our recent support of the multi-disciplinary campus in Cha Kwo Ling and the Aircraft and Marine Engineering Centre at the IVE Tsing Yi campus reflect that commitment. So does this dynamic new campus. With its inspired salt crystal design, it stands as an essential element and a much welcomed addition to Hong Kong's splendid vocational offerings.
 
     Finally, my thanks to all those who have over the years contributed to the development of this marvelous new centre of excellence. I wish the International Culinary Institute, ICI, and its students every success in the years to come. Thank you very much.

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Meetings of Legislative Council and its Committees

The following is issued on behalf of the Legislative Council Secretariat:

     The Legislative Council (LegCo) and its Committees will hold 15 open meetings during the week from October 29 to November 2 in the LegCo Complex. Details of the meetings are available in the meeting schedule attached.
 
     The information in the meeting schedule is subject to change. Please refer to the "LegCo Calendar" on the LegCo Website (www.legco.gov.hk) for the latest details of meetings.
 
     Members of the public are welcome to observe open meetings of LegCo and its Committees.  Interested individuals and groups are advised to make advance booking of seats by calling the LegCo Secretariat at 3919 3399 during office hours.  Members of the public can also listen to or watch all open meetings via the "Webcast" system on the LegCo Website.




Update on number of dengue fever cases

     The Centre for Health Protection (CHP) of the Department of Health today (October 26) reported the latest number of cases of dengue fever (DF), and again urged the public to maintain strict environmental hygiene, mosquito control and personal protective measures both locally and during travel.
 
     From October 19 to 25, the CHP recorded five imported DF cases. The patients had been to Guangdong, Mainland China (three cases, including one case epidemiologically linked to a case from last week), India (one case) and Thailand (one case) during the incubation period. 
 
     A spokesman for the DH advised members of the public that the health authority of Guangdong announced earlier on that Guangdong has entered the peak season of DF and the number of local cases recorded was higher than the average in the same period from 2015 to 2017. Members of the public are reminded to adopt personal protective measures against mosquitoes to prevent mosquito-borne diseases such as DF when visiting Guangdong.

     As of yesterday (October 25), 132 cases had been confirmed this year, of which 29 were local cases and 103 were imported cases. The imported cases were mainly from Thailand (32), Mainland China (22) and the Philippines (16). 

     DF remains endemic in some areas of Asia and beyond. The latest figures for 2018 revealed that 67 968 cases had been recorded in Thailand, 2 319 in Singapore (since December 31, 2017) and 150 in Japan. In Taiwan, 157 local cases have been recorded to date in 2018. In the Americas, the latest figures indicated that 203 157 and 48 926 cases have been filed in Brazil and Mexico respectively in 2018.
 
     The public should take heed of the following advice on mosquito control:
 

  • Thoroughly check all gully traps, roof gutters, surface channels and drains to prevent blockage;
  • Scrub and clean drains and surface channels with an alkaline detergent compound at least once a week to remove any deposited mosquito eggs;
  • Properly dispose of refuse, such as soft drink cans, empty bottles and boxes, in covered litter containers;
  • Completely change the water of flowers and plants at least once a week. The use of saucers should be avoided if possible;
  • Level irregular ground surfaces before the rainy season;
  • Avoid staying in shrubby areas; and
  • Take personal protective measures such as wearing light-coloured long-sleeved clothes and trousers and apply insect repellent containing DEET to clothing or uncovered areas of the body when doing outdoor activities.

     To reduce the risk of infections spread by mosquitoes, apart from general measures, travellers returning from affected areas should apply insect repellent for 14 days (DF) or at least 21 days (Zika virus infection) upon arrival in Hong Kong. If feeling unwell, seek medical advice promptly and provide travel details to the doctor. DEET-containing insect repellents are effective and the public should take heed of the tips below:
 

  • Read the label instructions carefully first;
  • Apply right before entering an area with risk of mosquito bites;
  • Apply on exposed skin and clothing;
  • Use DEET of up to 30 per cent for pregnant women and up to 10 per cent for children*;
  • Apply sunscreen first, then insect repellent; and
  • Re-apply only when needed and follow the instructions.

 
* For children who travel to countries or areas where mosquito-borne diseases are endemic or epidemic and where exposure is likely, those aged 2 months or above can use DEET-containing insect repellents with a DEET concentration of up to 30 per cent.

     The public may refer to the CHP's tips for using insect repellents for details.




SED to visit Zhejiang

     The Secretary for Education (SED), Mr Kevin Yeung, will leave for Zhejiang Province this Sunday (October 28) to participate in the Ningbo-Hong Kong Education Co-operation Forum 2018.

     Mr Yeung will meet with officials of Zhejiang Province, Hangzhou and Ningbo to exchange views on education interflow and collaborations.

     He will call at the China Academy of Art, the University of Nottingham Ningbo China and other education organisations, including local and international schools. He will also visit the Xixi Park of Alibaba Group.

     Mr Yeung will return to Hong Kong via Shenzhen on October 30. During his absence, the Under Secretary for Education, Dr Choi Yuk-lin, will be the Acting SED.