With better infrastructure links with the mainland and Macao, Hong Kong will be placed more advantageously to explore mutually beneficial development opportunities with other players in the Greater Bay Area, she said.

Hong Kong has also made long-term plans to develop its Lantau Island, where the Hong Kong port of the HZMB and the Hong Kong International Airport are both located, into a double gateway linking the vibrant Greater Bay Area with the rest of the world, Lam pointed out.

Lam said the bridge will also add to the appeal of Hong Kong and the Greater Bay Area. People in the region will find the "one-hour living circle" within reach, while businesses will receive a boost with greater ease in the flow of goods, information, capital and talent.