3
Thursday, December 7, 1972
He said the institutional system which supports commerce and
industry is also both strong and beneficial-- the Trade Development
Council, the Productivity Council and Centre, the Export Credit Insurance
Corporation and the many trade and industrial organisations, including
the Chinese Manufacturers' Association, all play important parte in
Hong Kong's economic development.
On Government's part, he said, much of the institutional support
for commerce and industry has been established on Government initiative,
and the institutions concerned continue to be assisted from the Government funds.
"Individual Government departments are also involved in many aspects
of the development of trade and industry," he added.
On foreign participation in local industry, the Governor said
its value was now estimated to have exceeded $1,000 million, and "we hope and
expect to see increased interest by foreign companies in establishing
themselves in Hong Kong."
The object is to see new, more sophisticated and more productive
industries established here which can only serve to benefit our economia
development as a whole,"
housing,
However, he pointed out that the principal contribution of the
Government must be the provision of the essential infrastructure
schools, hospitals, roads, water supplies and so on.
With regard ................