Strategic planning for the sustainable development of the construction industry in Hong Kong

Abstract

Excessive fluctuations in construction volume are undesirable and a comprehensive strategic planning is needed to sustain the development of the construction industry. This paper reports the findings of an industry-driven research project which aims to identify the available opportunities and the way forward for developing the construction industry of Hong Kong in a sustainable manner. Based on the collective views of experts from the industry, a set of strategic directions is proposed under a construction industry development framework. A long-term vision dedicated to the construction industry is indispensable for any country to position this important sector correctly. It is desirable to set up a centralized planning body to strategically plan and coordinate the overall output of the construction sector at a macro level in future. To ensure timely launching of major public-funded projects, an implementation framework with streamlined legal procedures and an efficient public consultation process are essential. The government, relevant professional institutions and trade organizations shall attract, maintain and nurture human resources to better match the needs of the industry and improve its productivity. For industry practitioners, timely diversification and adjustments in business model are necessary to adapt to the market transformations. With intense competition in construction services, all practitioners should continuously strive to sharpen their competitive edge and prioritize the identified opportunities to sustain growth. It is envisaged that the recommendations of this study would serve as a valuable reference for policy makers, in both developing and developed countries, to maintain a sustainable development of the construction industry. © 2009 Elsevier Ltd. All rights reserved.