DRAFT SPEECH BY HON HO SAI-CHU, MBE,
LEGISLATIVE COUNCIL - 14.1.87
JP
Adjournment Debate on Development of Industry in Hona Kona
sir,
Service industries have been playing a more important role in Hong Kong's economy in recent years.
The ratio of
employees in the service sector to the total employment fiqure is also increasing every year. By producing inmeasurable wealth and securing the status of an international financial centre for Hong Kong, service industries have made an indisputable contribution to the community.
Nevertheless, I
It is
cannot agree with those who doubt that industry is the basis of
My colleagues in this Hong Kong's economic development. Council have pointed out on different occasions that industry is a pillar of our economy which provides many employment opportunities and is the foundation of our prosperity. difficult to imagine that the service sector could remain uninvolved and continue to prosper when the industrial sector
It is certain that as a whole is suffering from depression. the revenue from industries will remain the major source of income for the service sector. To maintain the vitality of our industries will be a target which we all must work for with concerted efforts and a responsibility of the Government which it cannot shirk.
2.
Sir, according to the findings of a survey, the production cost in Hong Kong during the period 1977-83 has increased by 4.4%. The increase is due to the formulation of various labour law. The effect of the long service payment scheme has not been taken into account yet. We may envisage further increase in production cost in the years to come