Sir,
DRAFT SPEECH BY HON NGAI SHIU KIT, OBE, LEGISLATIVE COUNCIL 14 JANUARY 1987
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Adjournment Debate On
Development Of Industry In Hong Kong
JP
"Industry" has in itself a broad sense and can include a multitude of sectors. I shall confine my speech this afternoon to the areas concerning the manufacturing sector and concentrate on industrial diversification and industries better suited for higher technology. I shall also touch upon the relations between Sino-Hong Kong industrial co-operation and Hong Kong economic growth.
Industrial development is a key factor contributing to our economic prosperity. Starting from the 1970's and going onto the 80's, there has been an obvious change in direction for our economic growth. The financial and services sectors have been growing by leaps and bounds and their effects on the overall economy are becoming increasingly significant; many people thus are inclined to think that these sectors have replaced the manufacturing sector as the cornerstone to our economic growth. Viewed from its contribution to the Gross Domestic Product and its provision of employment opportunities, however, the manufacturing industry is still an important sector in our economy. But note that the threat of protectionism on our export markets is aggravating, the cost of production is rising continuously and the neighbouring industrially developed countries are posing keen competition. All these together make the manufacturing sector feel worried about their development prospects; these are the problems we need to resolve. If this situation is allowed to prevail and persist, manufacturers with decades of experience in industrial
what role will production would probably raise a doubt industry be eventually playing in the course of our future
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