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3
assuming that adverse effects of the recent worldwide stock
market crash would not precipitate a deep recession over
the next few years, the corporation is confident that it
will be able to meet its obligation to the development
Thus, Government will not incur any
loan fund in full.
3
₤und
losses on the cost of formation of all the land in the wo
Industrial Estates.
Sir, in planning for the future, we cannot
afford to be complacent.
By the end of 1987-88, land
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supply at Tai Po will be virtually exhausted, leaving some
50 hectares of land available, all at Yuen Long. At the
present rate of land disposal, whatever supply that is
available at Yuen Long could well be exhausted within
five years time. Also it is a fact that any infrastructural
planning and development requires a long lead time. For
these reasons the corporation has asked Government to
S
var examine the need and to consider granting us a site to
develop Hong Kong's third industrial estate. I am happy
to report that this project was endored in principle by
AND the Industry Development Board yesterday. Nevertheless, to ensure continuity in the promotion of the Estates,
would hope to see the first phase of a new estate ready
the year for occupation in 1992-93.
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Quantity is of course only part of the picture,
quality is at least as important. I personally find it
immensely encouraging to see the type of projects both
of overseas
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