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Wednesday, April 7, 1976
to Australia, Japan and the Northeastern United States and by the
Commerce and Industry Department to Switzerland and West Germany,
the mid-west USA, Texas and California.
But Mr. Jordan warned against allowing our interest and
enthusiasm in attracting new investment to cloud our judgement.
He said: "Whenever we consider departing from our well-
established practice of selling land to the highest bidder, there
must be strong positive reasons for doing so based on the most
thorough assessment we can make of the potential investors' project
and the benefits it will bring to Hong Kong.
+
"We must not sell our most valuable fixed asset at bargain
prices just because it seems a good idea to have someone here
manufacturing such and such a new product. And when we do decide
in favour, we must lay down realistic conditions and we must see
that they are met
-
and continue to be met.
"We have seen elsewhere too many cases where anxiety to
see some industrial development started has led to the establish-
ment of projects whose viability was really doubtful from the
beginning and later proved to be non-existent."
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