The construction of Hong Kong-Zhuhai-Macao Bridge (HZMB) was initiated in December 2009 and is expected to be complete by 2016. The bridge consists of three parts which includes the main bridge, boundary crossing and boundary crossing facilities of Hong Kong, Zhuhai and Macao, and link roads of these three places. The bridge, once constructed will be the world’s largest longest sea crossing bridge tunnel, which goes to the length of 36.5 Kms.
Hong Kong has always played an important role in the integration process while it has been an Investor and a Trading Hub of producer services and a supporter of rapid growth in the PRD region. Moreover, it shares the responsibility of linking Hong Kong to the rest of the world . however, further integration and growth in PRD will depend upoon the smooth and easy flow of goods and services, capital and technical know-how. Thus, The HZMB will be of immense great value in order to promote economic development between Hong Kong and Pearl River Delta(PRD) region. Following is a detailed discusion as how the bridge will bring economic harmony between Hong Kong and PRD:
Ehanced Connectivity and related Economic Growth:
So far, the development and all the arenas of investments were confined to Eastern Pearl River Delta as it was more close to Hong Kong. Hence, connectivity will play an important role in the spread of Economic Development in the Western PRD. Furthermore, reduced travel time between Hong Kong and Western PRD will be useful in tapping the growth potential in the latter region. Thus, the construction of the bridge was a result of Government of both the regions realizing the importance of improving the transportation links between Hong Kong and Western PRD. Since, the bridge will be the first land-link between two regions, it will save both time and the transportation cost.
Creating a common market:
The benefit of improved connectivity through the bridge, will also help in creating a common market between two regions by supporting frictionless movement of goods and...