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FRIDAY, FEBRUARY 11, 1977
C AND I DEPT. MOUNTS INDUSTRIAL PROMOTION MISSION TO U.S. ******
THE FIRST OF THIS YEAR'S OVERSEAS INDUSTRIAL INVESTMENT PROMOTION MISSIONS, UNDERTAKEN BY THE COMMERCE AND INDUSTRY DEPARTMENT, GETS UNDERWAY THIS WEEK WHEN AN ADVANCE PARTY OF C AND I OFFICERS LEAVES FOR THE UNITED STATES TO PREPARE THE WAY FOR A MAIN THREE-WEEK VISIT TO DALLAS, LOS ANGELES AND SAN FRANCISCO COMMENCING ON MARCH 7.
THE ADVANCE PARTY, MR. PETER LO, WILL MAKE MISSION TO CALL ON SOME
LED BY PRINCIPAL TRADE OFFICER, THE FINAL ARRANGEMENTS FOR THE 30 MANUFACTURING COMPANIES IN THE AREAS TO BE VISITED, INCLUDING SOME WHICH WERE CONTACTED BY A SIMILAR C AND I MISSION IN NOVEMBER, 1975, AND WHICH ARE STILL CONSIDERING THE POSSIBILITY OF
INVESTING IN HONG KONG,
THE LEADER OF THE MAIN MISSION WILL BE MR. ROY PORTER, DEPUTY DIRECTOR OF COMMERCE AND INDUSTRY, WHO WILL JOIN THE ADVANCE PARTY IN LOS ANGELES IN THREE WEEKS' TIME,
THE PROJECT HAS BEEN ORGANISED WITH THE ASSISTANCE OF THE US CONSULATE GENERAL, THE AMERICAN CHAMBER OF COMMERCE, THE TRADE DEVELOPMENT COUNCIL AND LEADING BANKS AND OTHER ORGANIZATIONS.
AS IN PREVIOUS VENTURES, THE AIM OF THE MISSION WILL BE TO VISIT SELECTED FIRMS TO DISCUSS WITH TOP EXECUTIVES THE SPECIFIC ADVANTAGES WHICH WOULD ACCRUE TO THE IR COMPANIES FROM MANUFACTURING IN HONG KONG. THE MISSION WILL ALSO TAKE THE OPPORTUNITY OF PROMOTING THE TAI PO
INDUSTRIAL ESTATE.
SAYS MR. PORTER: +AMERICAN INTERESTS AT PRESENT ACCOUNT FOR 53 PER CENT OF ALL DIRECT OVERSEAS INVESTMENT
IN HONG KONG INDUSTRY, AND WE BELIEVE THAT THERE ARE VERY GOOD OPPORTUNITIES FOR FURTHER AMERICAN INDUSTRIAL INVESTMENT IN HONG KONG. MANY AMERICAN INDUSTRIES HAVE PARTICULAR RELEVANCE TO HONG KONG'S PRESENT STATE OF
INDUSTRIAL DEVELOPMENT. IN ELECTRONICS AND ENGINEERING PARTICULARLY, THEIR INDUSTRIAL KNOWLEDGE COULD BE MOST VALUABLE TO HONG KONG'S FURTHER DEVELOPMENT.
+ THE BENEFITS OF THIS TYPE OF INVESTMENT ARE TWO-WAY. BY COMPLEMENTING THE IR HOME PRODUCTION WITH A PLANT IN HONG KONG, AMERICAN COMPANIES WILL BE ABLE TO EXPORT GOOD QUALITY PRODUCTS AT COMPETITIVE COSTS AND ACHIEVE A HIGH RETURN ON THE IR INVESTMENT. +
IT IS THE INTENTION OF THE DEPARTMENT TO ORGANISE TWO OTHER MISSIONS LATER IN THE YEAR, ONE TO SWITZERLAND AND THE FEDERAL REPUBLIC OF GERMANY IN MAY/JUNE AND THE OTHER TO CHICAGO, MILWAUKEE AND TORONTO IN SEPTEMBER/OCTOBER. THE HONG KONG GENERAL CHAMBER OF COMMERCE, WHICH IS CONCENTRATING ITS PROMOTIONAL EFFORTS IN DIFFERENT AREAS, HAS PLANNED MISSIONS LATER THIS YEAR TO AUSTRALIA, JAPAN AND THE NORTH-EASTERN PART OF THE U.S.A. CENTERING AROUND NEW YORK AND CLEVELAND.
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