14
THURSDAY, NOVEMBER 2, 1978
IF IT IS NOT RECOGNISED AND CONTAINED, OUR COMPETITIVE POSITION AND THEREFORE THE VITAL FURTHER DEVELOPMENT OF THE 'ENGINE ROOM' OF OUR ECONOMY NAMELY, OUR INDUSTRIAL AND EXPORT BASE, COULD BE UNDERMINED, HE SAID.
ABROAD, OUR PROBLEM IS TO COMPETE IN AN INCREASINGLY
PROTECTION IST WORLD AND THERE IS NO ALTERNATIVE BUT TO CONTINUE TO IMPROVE OUR INDUSTRIAL PRODUCTIVITY,
WHILE OUR RECORD IS EXCELLENT, WE MUST CONTINUE TO FIND WAYS TO SUSTAIN OUR PRODUCTIVITY GROWTH. THE TWO KEYS TO IMPROVEMENT, WHICH ARE INTER-DEPENDENT AND SHOULD BE DEVELOPED IN TANDEM, ARE THE UPGRADING OF OUR INDUSTRIAL SKILLS AND ATTRACTING NEW INDUSTRIAL INVESTMENT, HE SAID.
UPGRADING OUR SKILLS WILL NOT ONLY HELP TO IMPROVE THE COMPETITIVENESS OF OUR EXISTING INDUSTRIES, IT WILL ALSO ATTRACT NEW INVESTMENT AND HELP US MOVE UP THE SCALE OF TECHNOLOGY. HE THUS SUPPORTED OUR EXPANDING TECHNICAL TRAINING PROGRAMMES.
ORGANISED PROMOTION OF NEW INDUSTRIAL INVESTMENT, ON THE OTHER HAND, COMPARED WITH EXPORT PROMOTION, HAS DONE LESS WELL IN THE PAST AND HE WELCOMED THE ESTABLISHMENT OF THE ADVISORY COMMITTEE ON DIVERSIFICATION.
HOWEVER, HE SAID, WHAT IS ABSOLUTELY CLEAR IS THAT A VITAL INGREDIENT IN MOST INDUSTRIAL INVESTMENT DECISIONS IS A SUPPLY OF GOOD LAND AT ECONOMIC PRICES AND IN HONG KONG'S CIRCUMSTANCES THIS POSES ACUTE PROBLEMS. HE THEREFORE WELCOMED THE HIGH PRIORITY GOVERNMENT WAS ACCORDING TO LAND PRODUCTION.
FURTHERMORE, HE ADDED, IF WE ARE TO SUCCEED IN OUR EXPORT PROMOTION, IT IS VITAL THAT THE CLOSEST CO-OPERATION AND CONSULTATION SHOULD EXIST BETWEEN THE GOVERNMENT AND THE VAR IOUS ORGANISATIONS IN THE PRIVATE SECTOR. HE HOPED THE FORTHCOMING ECONOMIC MISSION TO JAPAN IN WHICH THE GOVERNOR IS TO PARTICIPATE WILL PROVE TO BE A GOOD EXAMPLE OF WHAT SUCH CO-OPERATION CAN ACHIEVE.
MR. NEWBIGGING WELCOMED THE CONFIDENT VIEW OF HONG KONG'S FUTURE EXPRESSED IN THE GOVERNOR'S OPENING ADDRESS WHICH HE SAID WAS A SOURCE OF ENCOURAGEMENT NOT ONLY TO THE PEOPLE OF HONG KONG, *BUT ALSO TO THOSE WHO INVEST HERE AND BUY FROM US AND TO THE MANY OTHERS THROUGHOUT THE WORLD WHO ARE CONCERNED ABOUT OUR SECURITY AND PROSPERITY.
HE ALSO FOUND THE EXCELLENT STATE OF SINO-BRITISH RELATIONS REFERRED TO BY THE GOVERNOR ENCOURAGING SINCE THE POLITICAL STABILITY OF HONG KONG IS FUNDAMENTAL TO ITS CONTINUED SUCCESS,* HE SAID.
HE SAID THAT WHILE WE OFTEN HEAR ABOUT LINKS BETWEEN BRITAIN AND CHINA AND BETWEEN HONG KONG AND CHINA. IT SHOULD BE REMEMBERED THAT GOOD RELATIONS BETWEEN HONG KONG AND BRITAIN ARE EQUALLY IMPORTANT AND NEITHER BRITAIN NOR HONG KONG SHOULD TAKE THEM FOR GRANTED.+
/15