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Hong Kong's unique position at the hub of Asia coupled with such obvious advan- tages as a young and dynamic workforce, excellent worldwide communications and transport facilities, and an efficient" bank- ing system - has resulted in large-scale overseas investment in the territory's expanding manufacturing industry. More than 300 factories partly or wholly-owned by overseas companies have been set up at a total cost of more than $2,000 million. The principal industries are electronics and textiles, although more investments are now being made in light and medium engineering fields. The Department of Trade, Industry and Customs is doing much to encourage further industrial investment. New towns are being built in the largely-rural New Territories, north of Kowloon. All are being carefully zoned to ensure a balance between industrial, com- mercial and social requirements. Large areas of industrial land have already been developed in Tuen Mun and in Sha Tin. Besides the new towns, two industrial estates are being established. The first of these, for relatively heavy industries, is * taking shape at Tai Po. Some 15 hectares *** of land has so far become available and a further 30 hectares will be provided on completion of the estate in 1980. Planning for the second industrial estate, to be located at Yuen Long, has already begun.
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Previous page: A member of Hong Kong's skilled workforce assembles watch move- ments in a factory set up as a joint venture between British and Hong Kong interesis. Left (from top): Watch movements are. checked for accuracy; lenses made by a company specialising in the manufacture of photographic products; employees assemble electronic components at a factory operated. by an American firm.
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