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THURSDAY, OCTOBER 3, 1974
HONG KONG AN ATTRACTIVE PROPOSITION
FOR INDUSTRIAL INVESTMENT
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HONG KONG OFFERS A MOST ATTRACTIVE PROPOSITION FOR THE FOREIGN INDUSTRIAL COMPANY THINKING OF ESTABLISHING A PLANT IN ASIA, MR. JIMMY MCGREGOR, DEPUTY DIRECTOR OF COMMERCE AND INDUSTRY, SAID TODAY.
HE TOLD DELEGATES ATTENDING THE OPENING SESSION OF THE COMMONWEALTH PRESS UNION CONFERENCE THAT HONG KONG INDUSTRY RECOGNISES THE NEED FOR A CONTINUAL FLOW OF INFORMATION, EXPERTISE AND NEW INDUSTRIAL KNOWLEDGE FROM HORE ADVANCED COUNTRIES.
+DEPENDING AS WE DO ON MANUFACTURING AND EXPORTING FOR OUR LIVELIHOOD, WE WILL CONTINUE TO ENCOURAGE OVERSEAS
INDUSTRIALISTS TO SET UP PLANTS IN HONG KONG EITHER AS SOLELY OWNED PROJECTS OR AS JOINT VENTURES WITH SUITABLE LOCAL PARTNERS,+ HE SAID.
+WE RECOGNISE TOO, THAT INTERNATIONAL TRADE IS HIGHLY COMPETITIVE AND THAT INDUSTRIES WHICH HOPE TO SELL IN INTERNATIONAL MARKETS MUST KEEP UP WITH RAPID ADVANCES IN TECHNOLOGY, DESIGN AND MARKETING TECHNIQUES.
+ IN THESE AREAS, HONG KONG DERIVES KUCH BENEFIT FROM THE PRESENCE HERE, OF POREIGN INDUSTRIAL COMPANIES.+
MR. MCGREGOR POINTED OUT THAT THE OVERSEAS INDUSTRIALIST HAS LONG FOUND HONG KONG AN ATTRACTIVE AND GENERALLY PROFITABLE PLACE TO MANUFACTURE OR PROCESS GOODS.
+QUITE APART FROM OUR INCOMPARABLE LABOUR, LOW TAXATION, PREEDOM FROM GOVERNMENT BUREAUCRACY AND INTERFERENCE, AND LACK OF DISCRIMINATION, HONG KONG HAPPENS TO HAVE ABOUT THE FINEST HARBOUR IN THE WORLD, A PARTICULARLY GOOD REGIONAL LOCATION, AND THE MOST EFFICIENT PACKAGE OF INFRASTRUCTURE THAT INGENUITY AND HARD WORK COULD PUT TOGETHER.+
AT THE PRESENT TIME HONG KONG HAS OVER 240 INDUSTRIAL FACTORIES EITHER FULLY OR PARTLY FOREIGN OWNED, KR. MCGREGOR SAID. THEY EMPLOY OVER 70,000 WORKERS, WHICH IS ABOUT 12 PER CENT OF OUR INDUSTRIAL WORKFORCE. THEY WERE RESPONSIBLE FOR EXPORTS LAST YEAR VALUED AT AN ESTIMATED $1,875 MILLION, ABOUT 10 PER CENT OF OUR TOTAL DOMESTIC EXPORTS.
+THE CAPITAL EMPLOYED BY THESE PLANTS IS ESTIMATED AT ABOUT $1,500 MILLION AND AMONG THEM ARE SOME OF THE MOST ILLUSTRIOUS INDUSTRIAL PRODUCERS IN THE WORLD,+ HE SAID.
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MR. MCGREGOR SAID HONG KONG'S INDUSTRIAL WORKERS HAVE LONG BEEN RECOGNISED AS ABOUT THE BEST IN ASIA EASILY TRAINABLE, HIGHLY ADAPTABLE, INDUSTRIOUS AND PRODUCTIVE.
/+THE QUALITY