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in turn, would seriously damage our prospects of securing project business in the other rapidly developing markets of South East Asia, for which Hong Kong in general and the MTR in particular are vital "window displays".

No doubt we shall be able to consider in greater detail some of the broader issues concerning Hong Kong when the country policy paper is circulated but it seems important that our construction companies are in the meantime given the authority for Hong Kong dollar financing on the Island Line if they are be taken seriously by the MTR. The same concession ought also to be made to UK consultants, for whom Hong Kong MTR expertise is a valuable sales point world-wide, if this is the only way in which they are going to be successful in winning future contracts.

Your micely

ви

سالم

Sana

DRC DURIE

се CC Birch

ECGD

GM Govlland

FCO

11 Haworth

MOD

A Lowry

DOT/CRE

TJH Downing

BOE

GC Lender

ODA

J Priston

R Mathrani

DOI

DOT/PEP

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