dti
the department for Enterprise
CONFIDENTIAL AND PERSONAL
elements of the work, the financial package would be of
primary importance.
They were clear that it would be
disastrous to the hopes of UK companies if ECGD cover was not
fully available; indeed, it would be very damaging to the
confidence of Hong Kong if such a situation were to arise.
Furthermore, the Governor stressed that any move to aggregate
exposure in China and Hong Kong as a single risk would be very
politically damaging in Hong Kong. I believe we must
recognise that the PADS project carries requirements for
substantial volumes of ECGD cover; and it will be important to
take this fully into account in taking decisions on ECGD's
future cover in Hong Kong following the current Portfolio
Management Systems Review. It would be damaging indeed if
Government decisions on ECGD cover prevented UK companies
bidding competitively for work on this large and prestigious
project.
TIM SAINSBURY
に
CONFIDENTIAL AND PERSONAL
Recycled Pap