WEDNESDAY, JULI 27, 1977
8
HE SAID THERE HAD TO BE UNITY OF APPROACH AND EFFORT BY ALL, AND IN THE MEANTIME IT WAS PRUDENT FOR THE GOVERNMENT TO ACCELERATE ITS PLANS FOR INDUSTRIAL DIVERSIFICATION.
+FIRST OF ALL, THE INCREASED PERSONNEL REQUIRED FOR THE NE.. INDUSTRY AND CUSTOMS DEPARTMENT IS A MATTER OF TOP PRIORITY. WE CANNOT EXPECT MIRACLES OVERNIGHT BUT IF THE RIGHT CALIBRE OF PERSONS ARE APPOINTED AS SOON AS POSSIBLE, THERE WILL BE STEADY PROGRESS IN OUR INDUSTRIAL DEVELOPMENT AND PROMOTION EFFORTS,+ MR. CHEONG-LEEN SAID.
SECONDLY, HE CONTINUED, THERE WAS A NEED TO REVIEW WHETHER ADDITIONAL INCENTIVES, SUCH AS THOSE DEVELOPED AND REFINED BY THE SINGAPORE ECONOMIC DEVELOPMENT BOARD, SHOULD BE DEVISED AS A MATTER OF URGENCY TO ATTRACT NEW INDUSTRIES.
IT IS OBVIOUS, HE SAID, THAT HONG KONG'S LOW TAX STRUCTURE AND FREE PORT STATUS NO LONGER COMMAND THE OVERWHELMING ATTRACTION TO POTENTIAL OVERSEAS INVESTORS AS IN PREVIOUS YEARS.
MR. CHEONG-LEEN ALSO SUGGESTED THE IMMEDIATE ESTABLISHMENT OF A TOP LEVEL AND HIGH-POWERED WORKING PARTY, PREFERABLY WITH THE INCLUSION OF UNOFFICIALS, TO EXAMINE WHETHER AND WHAT ADDITIONAL INCENTIVES ARE REQUIRED,
SUCH A WORKING PARTY, IF SET UP
IF SET UP, MIGHT ALSO LOOK INTO THE PROPOSAL TO FORM AN INDUSTRIAL DEVELOPMENT COUNCIL FOR THE PURPOSE OF STRENGTHENING AND CO-ORDINATING ON A BROADER FRONT HONG KONG'S INDUSTRIAL DEVELOPMENT EFFORTS, HE SAID.
19
Page 10Page 11