AN X D
PRINCE OF WALES FUND FOR TRAINING IN NEW TECHNOLOGIES
BACKGROUND
CHRAAF
1. A Hong Kong Government Working Party on Training in New
Technologies was appointed in April 1988 to advise the HK Government
on the need for and implementation of measures which would
facilitate investment in manufacturing production that is dependent
on the absorption of new technologies. In line with the Working
Party's recommendations, the HK Government has agreed to establish a
training scheme in new technologies, which involves the creation of
a revolving fund from which loans would be made to manufacturers to
finance the training of their employees through local extension
courses or overseas working attachments.
PROPOSAL
2. It is proposed that a fund called the New Technologies Training
Fund should be established to administer the scheme.
The Working
Party estimated that a fund of HKD 34 million should be able to
finance 200 traineeships a year (based on current deposit and
inflation rates) and envisaged that this figure should be raised
from the private sector and the HK Government.
3. A British input to the scheme to double the size of the fund
would increase the number of beneficiaries to 400, with a
correspondingly more significant impact on the local manufacturing
scene. It would be a demonstration of British commitment to the
future of manufacturing industry in the territory.
4. The Governor has proposed that the fund should be established under the patronage of the Prince of Wales.