21
Wednesday, April 25, 1973
FURTHER SALES OF INDUSTRIAL LAND FOR SPECIALISED INDUSTRIES
Government To Consider Possibilities
The Government will examine in the coming months "the possibilities
and criteria for further restrictive user sales of industrial land designed
to introduce more technological industry" to Hong Kong.
This was stated by the Financial Secretary, the Hon. C.P. Haddon-Cave
in reply to a question by the Hon. James Wu in the Legislative Council today.
He said the Government wanted "to remove an important impediment
to the establishment of some types of industry which could be reckoned to
be beneficial to the development of the economy as a whole."
He said that the recent sale of a five-acre site on Tsing Yi
Island restricted to the automotive industry was entered into on the basis
of this kind of thinking.
The ideal method, the Financial Secretary said, would be joint
ventures between overseas firms with sophisticated technological knowledge
and Hong Kong firms with local knowledge and backing from the resources of
the local financial system.
The Government, in conjunction with the Trade Development Council
is now working to interest suitable foreign investors in the possibilities
of development in Hong Kong," he said.
If propositions were made which looked promising but which could
not be accommodated in high rise buildings, the Government would be prepared
to consider tenders on a restrictive user basis, that is restricted to the
range of industry it was desired to attract, Mr. Haddon-Cave added.
/22