&
044776
MDHIAN 0489
RESTRICTED
FM BTC HONG KONG
TO IMMEDIATE DTI
TELNO OTTER 166
OF 29030OZ AUGUST 91
AND TO PRIORITY FCO
RESTRICTED
the Furness
Sorry: I have only just noticed
that his was not distributed Inormally.
Marcial
M
2/1x
FOR PRISTON, IBB, DTI AND MEADWAY, OT2/2, DTI, AND RICKETTS, HKD, FCO.
SMITH-LAITTAN'S FAXED LETTER OF 28 AUGUST TO RIPLEY: INWARD INVESTMENT SEMINAR IN HONG KONG.
1. WE HAVE BEGUN TO SET THE WHEELS IN MOTION FOR THIS SEMINAR TO BE HELD IN NOVEMBER. AS REPORTED IN SMITH-LAITTAN'S FAXED LETTER TO RIPLEY OF 28 AUGUST, WE EXPECT TO START A NEW TEMPORARY MEMBER OF STAFF ON 2 SEPTEMBER WHO WILL GIVE IT HER FULL-TIME ATTENTION.
2. AS DISCUSSED IN SMITH-LAITTAN'S TELCONS WITH RIPLEY (IBB, DTI) AND COX CHKD, FCO), ALSO ON 28 AUGUST, IT IS FIRMLY MY VIEW THAT IF WE ARE GOING TO DO THIS WE NEED TO DO IT VERY WELL. IT WILL BE MONEY DOWN THE DRAIN IF WE JUST PROVIDE AN AFTERNOON OFF AND SOME
EXPENSIVE HOSPITALITY FOR A FEW MIDDLE-RANKING EXECUTIVES AND
FINANCE OFFICERS TOO JUNIOR TO MAKE INVESTMENT DECISIONS. I
PROPOSE TO AIM FOR THE MILLIONAIRE CAPTAINS OF HONG KONG INDUSTRY, MANY OF WHOM ARE FREQUENTLY EXPANDING THEIR BUSINESSES INTO NEW AREAS OVERSEAS. IT WILL HELP IMMEASURABLY IN GETTING
THEM TO ATTEND IF THE SEMINAR IS LED BY A SENIOR AND WELL-KNOWN
FIGURE FROM THE UK WHO KNOWS THE SUBJECT. I UNDERSTAND THAT
ELSEWHERE (EG JAPAN) IBB HAVE LED SIMILAR SEMINARS WITH A MINISTER. WE COULD PROBABLY DO THAT HERE WITHOUT CAUSING ANY PROBLEMS, BUT IN DEFERENCE TO THE POSSIBLE SENSITIVITIES THAT HAVE LIMITED OUR ACTIONS IN TRYING TO ATTRACT INWARD INVESTMENT FROM HONG KONG IN THE PAST, I SUGGEST WE LOOK INSTEAD FOR SOMEONE OUTSIDE GOVERNMENT. I BELIEVE LORD YOUNG WOULD FIT THE BILL PERFECTLY. HE IS KNOWLEDGEABLE ABOUT INWARD INVESTMENT AND INDEED
I BELIEVE SPOKE AT OVERSEAS INWARD INVESTMENT SEMINARS WHEN A MINISTER. HE IS ALSO KNOWN AND RESPECTED IN HONG KONG. I HAVE SOUNDED HIM OUT INFORMALLY AND HE IS VERY WILLING TO TAKE ON THE ROLE. HE PLANS TO BE IN HONG KONG FROM 4 9 NOVEMBER ON CABLE AND WIRELESS BUSINESS AND SAYS HE COULD HAPPILY GIVE US HALF DAY TO ATTEND THE SEMINAR DURING THAT PERIOD. IBB'S CURRENT TENTATIVE PLANS FOR THE SEMINAR ARE TO HOLD IT ON 12 OR 13 NOVEMBER. LORD
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