5.
CONFIDENTIAL
3
By 1980 the Tai Po Industrial Estate will have yielded 112 acres of net formed industrial land for leasing to industry. Already 25 acres out of 67 acres of formed land becoming available have been leased to 14 successful applicants who have met the following selection criteria :
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(a) The industrial processes
(i)
must be of a nature or requirement which prohibits them from being carried on in an ordinary multi-storey industrial building;
(ii) must not be declared to be offensive trades under the Offensive Trades (New
Territories) Regulations.
(b) Preference will be given to industrial
processes which, compared with existing Hong Kong manufacturing industry,
(i) are significantly new and/
or produce significantly new products;
(ii)
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involve a higher level of technology;
(iii) provide employment at a
higher level of skill;
(iv) produce for sale on the
local market products required by existing industry;
(v) produce a significant
proportion of products for export;
(vi) produce products with a
high added value from local contents.
Total capital investment within the next 5 years by these
Overseas 14 grantees is estimated to be $370 million. interests include USA, UK, Denmark, Japan, Australia, Saudi Arabia, Singapore. 8 of these 14 grantees have already commenced constructing their factories, and 2 factories are expected to be operational by the end of 1979. Products to be produced include :
CONFIDENTIALL
/Reinforced
a