17
Thursday, March 15, 1973
Because of the monetary situation and stock market frenzy, be
said there was a credit squeeze for supply of materials to smaller
factories.
Mr. Wu said that local or foreign investors would find it difficult
to invest or re-invest for a viable industry at this moment.
"Taking the case of industrial land, this is at times provided
on a basis of expediency, as there appeared to be no industrial land policy."
He noted that some land was controlled by the Director of Public
Works, and land in the New Territories by the District Commissioner,
New Territories.
Industrial Training
On industrial training, Mr. Wu said he had been assured by the
Commissioner of Labour that substantial increase in numbers of high level
officere would be provided to serve the Hong Kong Training Council.
He also stressed that it was important for technical teachers to
be given assistance and opportunities for continuous development and self
improvement by the provision of scholarships and study leaves in Hong
Kong or overseas institutions or factories.
On the issue of spiralling rentals, Mr. Wu said it was high time
that the Government hold its promised review of the Trade and Industry
Advisory Board recommendation for a Fair Rent Tribunal.
As a long term measure, he proposed that there must be a stepping
up of the sale of Crown lands to reduce congestion and stabilise prices.
/"More