HK's competitiveness remains: Donald Tsang

There is no sign of any deterioration in Hong Kong's competitiveness, Chief Executive of Hong Kong Special Administrative Region (HKSAR) Donald Tsang said Thursday.

Tsang said the World Economic Forum's accusation of weakening in the city's judicial independence and a rise in corruption is also ungrounded.

In the World Economic Forum's Global Competitiveness Report 2005-06, released on Wednesday, Hong Kong's rankings for the " Macroeconomic Environment Index" and "Technology Index" went up. However, there is a marked decline in the "Public Institutions Index" which led to a visible fall in Hong Kong's global competitiveness ranking from 21st to 28th.

Responding to the report Thursday, Tsang said he will study it in detail and see if there is room for improvement. The government will contact the organization to better understand their assessment criteria as there is no sign of any deterioration in Hong Kong's competitiveness.

He stressed the city's corruption situation is under control. Coupled with the improving business environment and increasing overseas investment here, many other international organizations rank Hong Kong as one of the most competitive economies.

The International Institute for Management Development ranked Hong Kong as the second most competitive economy in the world. The Heritage Foundation ranked Hong Kong as the world's freest economy for the 11th consecutive year in its 2005 Index of Economic Freedom. The CATO/Fraser Institute also ranked Hong Kong as the world's freest economy this year.

Secretary for Justice Elsie Leung pointed out Hong Kong's freedom remains, due to the upholding of the rule of law, and the judicial system remains intact.

She said law courts have been handling cases with justice, while citizens' rights are fully protected under the Basic Law.

On Hong Kong's corruption situation, ICAC Commissioner Raymond Wong said the situation is well under control.

The total number of corruption reports has been on the decrease since 2002, with corruption complaints down 13 percent last year. In the first eight months of this year, the total number of graft complaints declined 6 percent over a year earlier, while those in the government sector, public bodies and private sector fell 13 percent, 5 percent and 1 percent.

Wong said the figures show there is no sign of deterioration in the city's corruption situation.

Source: Xinhua