HONG KONG SAR – Media OutReach Newswire – 26 February 2026 – Fast-tracking innovation and technology (I&T) development is a core feature of the 2026-27 Budget, unveiled yesterday (February 25) by Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR).

Mr Chan said Hong Kong would be stepping up support measures such as computing power, land and capital, to enhance the city’s influence as a global source of original innovation.”Hong Kong’s strengths in innovative scientific research and commercialisation of research outcomes lie in our internationalised qualities, strong research capabilities, support of financial sector and a rich pool of high-calibre talents,” Mr Chan said.

He added that the Government is pressing ahead with the industrialisation of artificial intelligence (AI) and deepening its integration across various industries, while encouraging wider AI application, referred to as AI+, with an initial focus on life and health technology and embodied AI.

“I will establish and chair the Committee on AI+ and Industry Development Strategy to formulate strategies and create favourable conditions for AI to empower the transformation and development of industries,” Mr Chan said.

“We are making proactive efforts to align with the National AI+ Initiative by promoting ‘industries for AI’ and ‘AI for industries’ through application.”

The Financial Secretary highlighted that the Hong Kong Artificial Intelligence Research and Development Institute Company Limited will come into operation in the second half of this year, to promote AI+ development and transformation of R&D outcomes and advise the Government on relevant matters.

Professor Sun Dong, Secretary for Innovation, Technology and Industry, echoed the need for holistic development of AI+ development. “When you talk about AI, you cannot just talk about AI research, or just talk about the infrastructure, we have to do it together. Actually, that is what we have been doing in the past three years. Everything is very important.”

Central to the Government’s efforts in promoting I&T is the San Tin Technopole area in the Northern Metropolis development.

“The San Tin Technopole will provide a large piece of land which can help accelerate the commercialisation of R&D results and provide industrial space for prototyping, pilot and mass production,” Mr Chan said. He proposed injecting $10 billion (US$1.28 billion) as initial capital to take forward the development, while leveraging market resources to accelerate the progress.

Mr Chan also earmarked $10 billion (US$1.28 billion) to accelerate the development of the Hetao Hong Kong Park by engaging the market to speed up the disposal of the remaining land parcels under Phase 1 development, providing key infrastructure, further strengthening support to start-ups and establishing a venture fund.

Mr Chan set aside about $220 million (US$28 million) to establish in Hong Kong the first national manufacturing innovation centre outside the Chinese Mainland. This, he said, reflects the Government’s commitment to implementing the Co-operation Agreement on the Development of New Quality Productive Forces and the Promotion of New Industrialisation signed with the Ministry of Industry and Information Technology to promote industrial collaboration.

The Budget also sets out support measures for various technology-related emerging industries. Among them is the aerospace industry. The Office for Attracting Strategic Enterprises will take the lead to identify aerospace enterprises to develop in Hong Kong. Also, the Hong Kong Exchanges and Clearing Limited would review the relevant listing requirements to facilitate and attract the listing of aerospace enterprises in Hong Kong.

Noting that low earth orbit satellites can support the development of high-end industries, Mr Chan said the Government would proactively expand telecommunications infrastructure, streamline the relevant licensing regime and promote future 6G applications.

Meanwhile, the $10 billion (US$1.28 billion) Innovation and Technology Industry-Oriented Fund, introduced by the Government to channel market capital to invest in emerging fields of strategic importance, such as life and health technology, AI and robotics, as well as future industries, is expected to commence operation within this year.

“The key is to popularise the understanding and use of AI by all levels of society,” Mr Chan said.

By 2024, many of Africa’s debt-distressed sovereigns will have successfully restructured their most unaffordable loans

LONDON, United Kingdom, April 25, 2023/APO Group/ — 

PANGEA-RISK (www.PANGEA-RISK.com) jointly published a white paper on THE POLITICS OF AFRICAN DEBT RESTRUCTURING, with Acre Impact Capital, on the need to prepare Africa’s distressed sovereigns for a new wave of sustainability capital.

Debt transparency, sound fiscal and monetary governance, and candid bilateral relations with creditors are the primary political indicators of effective debt treatments

The report finds that by 2024, many of Africa’s debt-distressed sovereigns will have successfully restructured their most unaffordable loans, whether domestic or external obligations, placing these countries in much better stead to attract private investment, in particular from sustainability-focused and impact investors to address the USD 100 billion annual infrastructure financing gap.

This forecast differs from the often-prohibitive credit ratings imposed on many distressed sovereigns, which restricts climate financing activities and other development funding in these countries.

Debt transparency, sound fiscal and monetary governance, and candid bilateral relations with creditors are the primary political indicators of effective debt treatments, even while multilateral debt relief initiatives, such as the G-20’s Common Framework, flounder. By the end of 2023, heavily indebted African states like Kenya and Ghana, should have implemented successful debt restructurings through extended maturities on foreign currency obligations, domestic loan swaps in exchange for concessional finance, and limited haircuts for some bondholders.

Chinese creditors and international bond holders are most exposed to defaults, while the shock of debt restructurings for local banks and domestic bondholders will often be cushioned. In well-managed debt treatments, concessional and private sector creditors will be least exposed to arbitrary haircuts and other losses, which will enhance sovereigns’ creditworthiness and improve their position to attract record flows of climate finance and other impact investment in coming years. For the full report, see https://apo-opa.info/3L3Qmco. 

Distributed by APO Group on behalf of PANGEA-RISK.

President El-Sisi was updated on the comprehensive development of the litigation system and efforts made to enhance the performance of courts across Egypt

CAIRO, Egypt, November 17, 2022/APO Group/ — 

Today, President Abdel Fattah El-Sisi met with Minister of Justice Counselor Omar Marwan.

The Spokesman for the Egyptian Presidency stated that the meeting discussed the efforts made by the Ministry of Justice regarding the comprehensive development of the State’s litigation system and the speedy disposition of cases.

The meeting discussed the efforts of developing the Real Estate Registration Authority

President El-Sisi was updated on the comprehensive development of the litigation system and efforts made to enhance the performance of courts across Egypt to help reduce case backlogs, particularly family court cases. About 309,000 family court cases have been tried before 2021, only 100 of which are currently pending in courts. The President also expressed his appreciation for the efforts made by the judges to complete cases.

Counselor Marwan also reviewed the work of the Supreme Committee for Legislative Reform, which lasted for two years, to issue a national legislative database. This database classifies laws, presidential decrees, cabinet decisions, as well as international agreements. As a result of these efforts, the State’s laws have become 618 laws of the total of 17049 and international agreements have become 1997 of the total of 4366, with a flexible framework allowing immediate amendments when a legislation is passed or repealed.

The Minister of Justice briefed the President on the most prominent axes in the development process of the litigation system, particularly the efforts made to raise the efficiency of the courts’ headquarters and buildings in all governorates. President El-Sisi directed that these efforts be kept under close review and the development of Galaa Courts Complex be expeditiously completed. He also directed that an engineering committee be formed to inspect Bab Al-Khalq Court, a historical building, and prepare a report on its condition. Furthermore, President El-Sisi directed that the Ministry of Justice and the Ministry of Communications and IT cooperate to rapidly automate courts of first instance and courts of appeal.

President El-Sisi also followed-up on the efforts made by the Ministry of Justice to prepare a group of experts from the Ministry of Awqaf, Al-Azhar and Dar al-Iftaa to seek their help in cases of defamation of religions. They will also be legally qualified to identify the elements and circumstances of the crime.

The meeting discussed the efforts of developing the Real Estate Registration Authority. The President confirmed the need to continue opening new branches providing documentation services with night shifts to meet the needs of all citizens across Egypt.

Distributed by APO Group on behalf of The Presidency, The Arab Republic of Egypt.