HONG KONG, Jun. 30, 2009 (Info-Prod Research) -- According to news.gov.hk: The Government and the Walt Disney Company (NYSE:DCQ) have reached an agreement on the expansion of Hong Kong Disneyland (NYSE:DIS) , boosting the number of theme areas from four to seven and creating more than 3,000 jobs, Chief Executive Donald Tsang says. The new attractions will come on stream in phases in the next five years.The Walt Disney Company will contribute the necessary new capital of about $3.5 billion as equity for the expansion. It will also enhance the transparency of the park's operation. Hong Kong Disneyland is a major tourism infrastructure for Hong Kong, Mr Tsang said, noting its expansion will bring significant benefits to the tourism industry and the overall economy. "While we have done much about the six priority industries in the past few months, we have not for a single moment lost sight of our traditional pillar industries," Mr Tsang said. "The Disneyland expansion project, and the signing of the supplementary Memorandum of Understanding between the People's Bank of China (OOTC:BACHY) and Hong Kong Monetary Authority yesterday, demonstrate the Government's full commitment to promoting our pillar industries, including financial services and tourism. I'm sure this will help Hong Kong move towards a knowledge-based economy."