CATHAY PACIFIC's chief executive has voiced support initiatives unveiled by the Hong Kong Government that aims to strengthen the city's role as an international shipping hub for both commercial aviation and maritime shipping.

Commenting on Chief Executive CY Leung's first Policy Address, Cathay CEO John Slosar said it "will serve to strengthen Hong Kong's role as a regional hub for passenger and cargo traffic. In this regard, we would like to reiterate the importance of the construction of a third runway at Hong Kong International Airport, which is crucial for the sustainable growth of Hong Kong's aviation industry".

Mr Slosar said the Policy Address was "robust in addressing some of the more pressing issues facing Hong Kong and that it set out a clear vision for a more stable and prosperous future for the city.

"The government's initiative to set up the Economic Development Commission (EDC) and the formation of Working Groups for various industries, in particular Transportation, Convention and Exhibition Industries and Tourism, is an important step to drive the city forward. Such initiatives will provide a tangible boost to our home city's long-term economic development. We are also pleased to see the government's commitment to maintaining a business-friendly environment with a simple and low tax regime.

"We also welcome the Chief Executive's commitment to address important issues such as the supply of manpower, the Work Incentive Transport Subsidy Scheme, and the continued development of Lantau Island, in particular Tung Chung, which is the airport's home community," he said.

"Cathay Pacific is committed to making huge long-term investments in Hong Kong, so from our perspective it is vital that the city has a firm economic foundation, and that key industries such as tourism and trade can continue to flourish," Mr Slosar said.