THURSDAY, MARCH 31, 1977
H.K. MUST PLAN ITS OWN ECONOMIC DESTINY, SAYS CHEN
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HONG KONG SHOULD MAKE A START, HOWEVER MODEST, IN PLANNING ITS OWN ECONOMIC DESTINY, THE HON. S.L. CHEN SAID TODAY.
SPEAKING IN THE RESUMED BUDGET DEBATE IN THE LEGISLATIVE COUNCIL, HE SAID HE DID NOT DOUBT THAT +OUR POLICY OF ALLOWING INDUSTRY TO DEVELOP FREELY TO TAKE ADVANTAGE OF SHORT-TERM MARKET DEMANDS HAS SERVED US WELL UP TO NOW+.
BUT HE ADDED: +WE COULD NOT SURELY AFFORD TO BE COMPLACENT AND CONTINUE TO THINK THAT WE COULD ALWAYS ENJOY THE GOOD FORTUNE OF THE PAST+.
MR. CHEN SAID THAT WHEN THE FINANCIAL SECRETARY COMMENTED ON HONG KONG'S ECONOMIC FUTURE IN HIS BUDGET SPEECH, HE STRUCK
A NOTE OF CAUTION THAT AFTER THE RAPID RECOVERY OF 1976 THE OUTLOCK WAS CLOUDED WITH UNCERTAINTIES.
+WE WERE REMINDED ONCE AGAIN THAT OUR ECONOMIC GROWTH AAS STILL VERY MUCH DEPENDENT ON EXTERNAL FACTORS OVER WHICH WE HAVE NO CONTROL, SUCH AS THE POLICIES OF THE GOVERNMENTS OF THE COUNTRIES TO WHICH WE EXPORT, HE SAID.
+THIS PROMPTED ME TO ASK MYSELF THE QUESTION WHETHER WE IN HONG KONG HAD ANY FORM OF STRATEGIC ECONOMIC PLANNING AT ALL, WHETHER WE PLAY A DELIBERATE ROLE IN DECIDING OUR OWN FUTURE, OR WHAT DIRECTION WE SHOULD GO IN ORDER THAT WE HAVE A FUTURE,+ HE ADDED.
MR. CHEN SAID THERE SEEMED TO BE SOME SORT OF PLANS IN OPERATION, SUCH AS EFFORTS TO ATTRACT OVERSEAS INVESTMENTS IN HIGH TECHNOLOGICAL INDUSTRIES, INDUSTRIAL LAND POLICY, ESTABLISHMENT OF THE HONG KONG INDUSTRIAL ESTATES CORPORATION AND INVESTMENT IN TECHNICAL EDUCATION, BUT THERE WAS NO MASTER PLAN WHICH LINKED THEM ALL.
HE STRESSED THAT THE SUCCESS OF ANY PLAN FOR ECONOMIC DEVELOPMENT DEPENDED LARGELY ON THE AVAILABILITY OF MANPOWER POSSESSING THE RIGHT SKILLS AND KNOWLEDGE.
+ IT IS THEREFORE ESSENTIAL THAT WE HAVE BOTH AN ACCURATE ASSESSMENT OF THE MANPOWER SUPPLY NEEDED TO ACHIEVE OUR INDUSTRIAL DEVELOPMENT OBJECTIVES AND A REALISTIC AND PRACTICAL PLAN FOR THE DEVELOPMENT OF OUR MANPOWER WHICH IS OUR ONLY AND MOST VALUABLE ASSET, HE SAID.
TO ACHIEVE THE FIRST AIM, MR. CHEN SAID, +WE MUST HAVE RELIABLE MANPOWER FORECASTING TO PROVIDE OUR POLICY MAKERS WITH A RATIONAL BASIS ON WHICH TO TAKE DECISIONS ON EDUCATION AND OTHER AREAS OF THE ECONOMY, AND FOR INDUSTRIALISTS, BOTH LOCAL AND OVERSEAS, TO PLAN THEIR INVESTMENTS AND EXPANSION,+
/SUCH FORESASCO,