Wednesday, April 7, 1976
17
The other point is that the system is merely a method of
And the real
distribution.
It cannot make moro quota available.
cause of the trouble recently has been that under the Agreements
Hong Kong has been obliged to sign, it just does not have enough
quota to be able to allow the current level of demand for some
products to be met.
Turning to Hong Kong's industrial development, Mr. Jordan
said he shared Mr. James Wu's wish to see the establishment and-
growth of a medium-to-heavy engineering industry, both for the
stimulus it could give to Hong Kong's industrial development
and for the employment it could provide for university and
polytechnic graduates and for the young people emerging from
the technical institutes.
Mr. Jordan added: "We have had a nucleus of heavy
engineoring in our dockyards for a long time, our first technical
institute opened in 1969, the Polytechnic was inaugurated in April
1972, land policy was modified to provide for large-scale industrial
plants in 1973. The remaining gap should be filled by the establish-
ment of our first industrial estate, which will nako possible the
establishment of medium-size factories of types that are unable
to operate in high-rise factory buildings,"
"The fact that the Tai Po Industrial Estate is now on the
way to becoming a reality will, we hope, make it easier to attract
new overscas investment into Hong Kong and we are increasing our
efforts in this fiold," Mr. Jordan continued.
He said that the proposed programme for 1976 included
overacas missions by the Hong Kong General Chamber of Commerce
/to
to Australia......................