44.
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Add
We need also to ensure that our external transport
links by land, sea, and air remain adequate for our economic
needs. We are continuing to improve our cross border road
links; we are expanding the existing container port, and we are
developing better facilities at Kai Tak. But there is a need to look beyond the short and medium term,
term, towards the possible relocation of the airport and new port facilities. These long
term developments and their implications are receiving close
Government scrutiny.
45.
Thus, it follows that beyond the present forecast
period a higher proportion of the Government's total spending
may have to be devoted to transport and infrastructural
development even though we may look to the private sector to
assume some of the financial burden. Bearing in mind our
increasing commitments to the social
social services any additional
public sector investment on our transport infrastructure will
need to be carefully coordinated in order to ensure that our
overall expenditure guidelines are not breached.
46.
that Our
In the context of infrastructural development, I would
like to say a few words about the Government's support for the manufacturing industry. The well-publicised rapid growth in
importance of our financial and other services sectors has
sometimes overshadowed the vital contribution
manufacturing industry has made to our economic success. Industry remains a mainstay of our economy, accounting for some 22% of our gross domestic product and 34% of total employment.
Our time honoured philosophy is that market
that market forces should be
allowed to determine the direction of our industry. Business
decisions should be made
made by businessmen. Nevertheless, the
Government
responsibility to ensure a favourable
accepts a
/environment
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