Executive Councillor Jeffrey Lam on Saturday said the government should streamline labour importation, saying the current schemes make it hard to recruit skilled workers.
Speaking on a radio programme, he said it often takes a long time for the SAR to import outside labour and this might hurt the local economy.
Lam said officials should consider attracting middle-ranking labour from Malaysia during the Chief Executive's upcoming visit to Asean countries.
"We have to go out and approach more people from different countries because we do need people of all talents, from managers to workers," he said.
"So the faster we do it, the better terms we can offer to those people, the quicker and more they will come."
Speaking on the same programme, the president of the Chinese Manufacturers' Association, Allen Shi, said Hong Kong should make use of talent importation to take on Singapore.
"Our resources are our talents, and talents over the world contribute to this trading hub. But if we fail to attract overseas talent, there will be fewer opportunities for us," he said.
Shi added that the ageing population makes it difficult for the SAR to rely on only local workers.