'Window For Young Tech Talent Is Closing'

The chief executive of the Hong Kong Science and Technology Park, Albert Wong, warned on Sunday that tech companies will start looking outside the city for opportunities if the SAR fails to attract enough talent to join the sector.

Speaking on RTHK's Letter to Hong Kong, Wong said there was a major "talent mismatch" in the park’s annual Career Expo last year, with less than a fifth of vacancies in the sector being filled.

“If you love technology, if you are committed to pursuing a career in Research and Development, go after your dream, work hard. There are opportunities,” Wong said.

“This window of opportunity for our talent will be open for a short time, and a short time only.

“Hong Kong is still a good place to attract, develop and retain talent. Four of our universities are ranked among the top fifty in the world. The Hong Kong government is investing heavily in technology and innovation. But if such a talent shortage continues, recruiters will go elsewhere,” he said.

Wong also said Hong Kong should work hard to develop its high-tech industry, adding that the city cannot just rely on its past strengths.

“Prosperity brings comfort. Comfort results in complacency, which leads to failure,” he said.

“For the past 20 years, Hong Kong thrived on financial, retail, logistics and tourism. These pillar industries are important to us, but the “lo-tech” and quick money mentalities will not survive.

“Hong Kong is a blessed land, but being blessed should push us to work even harder. There is a crisis upon us. We cannot live on our past. What worked yesterday may not work tomorrow.”

He said Hong Kong has what it takes to embrace the challenge, with opportunities on the mainland, as well as the city’s education system, governance, financial system and geography.

“The most important thing, however, is that the world is being disrupted by technology,” Wong said. “Hong Kong has to take this on. It is not a matter of choice, but survival.”