!
ma DAVE'S
Cunning. CG (ARGD
Political Adviser,
Hight actually help to concentrate
シュー
winds in Peking.
Ichy Paling
M~
KEC
201(R)
16 MAR 1982
HE ECONOMIC NEWS
WEDNESDAY, MARCH 10
98 23
GOV'T TO SET UP NEW BODY TO BID FOR÷HK÷INVESTMENT
Taipei (CENS)--The government is to set up a new office to: attract more overseas Chinese investment, especially from Hongkong.→ Officials will be sent regularly to Hongkong to acquaint investors and businessmen there with the investment climate in Taiwan.
This was announced on Monday by the Economic Affairs Minister Chao Yao-tung, who said that his ministry will combine with th ministries of Finance, Interior, National Defense and the Taiw Garrison Command to establish the new officere
er
Chao said that he expects up to US$20 billion to leave Hongko r the next three years, because the lease on most of Hongkong expires in June 1997 To attract some of this money, the nation; must improve its investment incentives he added
This country is in the midst of its most difficult economic crisis. We are in urgent need of huge amounts of foreign inves ment to improve our industrial structure and to attain our goal of 85% growth a year for the next four years
Chao said that attracting even 10% to 20% of the US$20 billio will make a tremendous contribution to the nation's developmen "The government will spare no effort to draw that money here. (LT):
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