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FRIDAY, MAY 26, 1978
ACTING CHIEF SECRETARY ADDRESSES DIVERSIFICATION SEMINAR
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THE ADVISORY COMMITTEE ON DIVERSIFICATION, WHICH HAS COMPLETED ITS STUDY OF THE GROWTH AND DEVELOPMENT OF HONG KONG'S ECONOMY OVER THE PAST 15 YEARS, WILL +VERY SHORTLY+ BE MOVING ON TO CONSIDER WHETHER THERE IS A CASE FOR MODIFYING EXISTING GOVERNMENT POLICIES AND/OR EXTENDING THEM, BOTH TO STIMULATE EXPORTS AND TO FACILITATE THE PROCESS OF DIVERSIFICATION.
THE ACTING CHIEF SECRETARY, MR. PHILIP HADDON-CAVE, SAID THIS TODAY WHEN DELIVERING AN INAUGURATION MESSAGE AT A SENIÑAR ON DIVERSIFICATION OF HONG KONG'S INDUSTRIES ORGANISED BY THE HONG KONG MANAGEMENT ASSOCIATION.
MR. HADDON-CAVE SAID THE ADVISORY COMMITTEE HAD TENTATIVELY IDENTIFIED THE LIKELY FUTURE DETERMINANTS OF GROWTH OF THE VARIOUS INDUSTRIES THAT MADE UP OUR ECONOMY, INCLUDING SOCIO-POLITICAL AND GEO-POLITICAL FACTORS, AND THE RESTRICTIVE. IMPACT OF THE NEW GENERATION OF TEXTILE RESTRAINT AGREEMENTS,
+AND IT HAS ARRIVED AT CERTAIN FORECASTS OF THE LIKELY GROWTH OF EXPORTS OF BOTH GOODS AND SERVICES OVER THE FIVE YEARS 1978 TO 1982, + HE SAID.
+THE MACRO-ECONOMIC IMPLICATIONS OF THESE FORECASTS ARE NOW BEING CONSIDERED, THAT IS TO SAY, WE ARE TRYING TO FIGURE OUT WHAT THESE FORECASTS OF THE GROWTH OF EXPORTS IMPLY FOR THE GROWTH RATE OF G.D.P. IN THE FUTURE.
+SQ, VERY SHORTLY, WE SHALL BE MOVING ON TO THE ESSENTIALLY DELIBERATIVE STAGE, THAT IS TO SAY, CONSIDERATION OF WHETHER THERE IS A CASE FOR MODIFYING EXISTING GOVERNMENT POLICIES AND/OR EXTENDING THEM, BOTH TO STIMULATE EXPORTS AND TO FACILITATE THE PROCESS OF DIVERSIFICATION, HE SAID.
AS THE RANGE OF POLICIES TO BE CONSIDERED WAS VERY WIDE THIS WOULD TAKE SOME TIME, HE SAID.
+1 SHOULD ADD THAT IT WILL BE AT THIS STAGE THAT THE ADVISORY COMMITTEE WILL BE LOOKING AT OVERSEAS PRACTICES TO SEE "WHETHER THEY MIGHT BE APPLICABLE TO HONG KONG IN FACILITATING
DIVERSIFICATION. THE ADVISORY COMMITTEE WILL ALSO BE CONSULTING OFFICIALLY WITH A NUMBER OF CRGANISATIONS REPRESENTING VARIOUS SECTORS OF TRADE AND INDUSTRY.+
CLEARLY, MR. HADDON-CAVE SAID, THE ADVISORY COMMITTEE HAD NEITHER BEEN INACTIVE NOR HAD IT BEEN SUFFERING FROM +A LOSS OF DIRECTION+.
+WHEN ITS REPORT IS COMPLETED I HOPE IT WILL BE SEEN TO BE A DEFINITIVE STUDY OF HONG KONG'S ECONOMY AND A CRITICAL ANALYSIS OF THE GOVERNMENT'S POLICY ATTITUDES AND OBLIGATIONS.
/+MEANWHILE,