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EXPLANATION
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The North of England Development Council (NEDC) is the only UK
regional development agency represented (through a consultant) in Hong
Kong and will have a full-time presence in the territory from
October 1986 as a headquarters for the Far East. However, Birmingham
City do maintain a trade and investment office in Hong Kong.
The Hong Kong market has internationally known strengths in
textiles, plastics and electronics and many of the leading companies
export in volume to the USA and EEC.
Due to increasing protectionism abroad and rising costs at home
coupled with political insecurity, Hong Kong businessmen are making and
will continue to make sensible, viable investments overseas.
Locationally, these projects will tend to go where a straightforward
immigration package is also on offer such as in Australia, Canada, USA,
Eire and many less developed countries (including Portugal because of the
Macao connection).
Such ventures bring jobs, capital and the renowned Hong Kong Chinese
entrepreneurial zeal to the countries concerned.
The United Kingdom has not benefited greatly from industrial
projects from Hong Kong, although the North East has, fortunately,
received the largest share.
Although there is still an emotional tie
between UK and Hong Kong, particularly for those businessmen in the
territory who are associated with or were educated here or whose children
are at school here, political realities and the less than appropriate
immigration package on offer in Britain puts this country, and of course the North East, at a decided disadvantage when competing for Hong Kong
projects.
a.