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The Development Corporation
Principles
The Development Corporation would be a profit-making body financed by private capital, raised both locally and internationally.
Land for the development would be purchased from the Government at current market rates.
The Corporation would in accordance with the wishes of the Hong Kong Government either associate itself with one of the existing new town developments or embark on a virgin development. We believe the Government should welcome the association of a strong private corporation with its existing plans.
The facilities it would provide would be available to any resident of Hong Kong, not reserved for Vietnamese refugees.
The manufacturing units would be small and flexible to use. This reflects the importance of flexibility in manufacture in Hong Kong's development to date. (Today plastic flowers, yesterday wigs, tomorrow micro circuits).
Proposals
In broad terms we regard the project as viable and we are confident that there would be sufficient backing from private sources, both commercial and charitable, to get it off the ground. Clearly more detailed and professional studies will be necessary once these proposals are accepted in principle.
At this stage we envisage the Corporation's responsibilities as:-
Obtaining sufficient land from the Government to provide residential accomodation and factory space for 200,000 people.
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Erecting houses and factories and possibly some infrastructure.
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Providing, in the initial stages, technical advice and marketing assistance to the Vietnamese entrepreneurs.
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Making a contribution to the Hong Kong Government
and health.
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specifically for education
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