10
WEDNESDAY, DECEMBER 17, 1980
OPPORTUNITIES OFFERED BY INDUSTRIAL ESTATES
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THE EFFECT OF THE UNCERTAINTY IN THE ECONOMIES OF HONG KONG'S OVERSEAS MARKETS IS CLEARLY SEEN IN THE HESITANCY OF LOCAL MANUFACTURERS TO EMBARK ON SUBSTANTIAL NEW INVESTMENTS AT THE PRESENT TIME, THE HON LI FOOK-WO SAID TODAY.
BUT THERE IS EQUALLY CLEAR EVIDENCE, FROM THE MANY ENQUIRIES RECEIVED. THAT INVESTORS CONTINUE TO REGARD HONG KONG AS THE LOGICAL VENUE TO SERVICE THE VAST POTENTIAL MARKET IN CHINA AND ELSEWHERE IN SOUTH EAST ASIA, HE SAID.
MR LI WAS SPEAKING AT THE TABLING OF THE HONG KONG INDUSTRIAL ESTATES CORPORATION ANNUAL REPORT FOR THE YEAR ENDED MARCH 31, 1980.
+THE INDUSTRIAL ESTATES, BY MAKING LAND AVAILABLE TO INDUSTRIES OFFERING NEW HIGH TECHNOLOGY PROCESSES AND NEW PRODUCTS FOR THIS REGION'S VAST EMERGING MARKET, PROVIDE THE BEST MEANS BY WHICH PRUDENT INVESTORS CAN ENJOY THE MANY OTHER ADVANTAGES WHICH HONG KONG HAS TO OFFER.
+THESE ESTATES REMAIN THE MOST TANGIBLE AND VALUABLE ASSET FOR THE PROMOTION OF INDUSTRIAL DIVERSIFICATION AND INVESTMENT, AND A GUARANTEE OF THE FUTURE OVERALL ECONOMIC WELL-BEING OF HÔNG KONG, HE SAID.
MR LI NOTED THAT LOCAL AND OVERSEAS INVESTORS ARE ALMOST EQUALLY REPRESENTED BY 32 SITES WHICH HAVE SO FAR BEEN GRANTED OR EARMARKED. AND TOGETHER THEY ARE COMMITTED TO A TOTAL MINIMUM INVESTMENT OF ABOUT $1 000 MILLION AND A MINIMUM ANNUAL SALES VALUE OF $2 000 MILLION.
+ALTHOUGH THE NUMBER OF APPLICATIONS FOR SITES BEING RECEIVED BY THE CORPORATION IN RECENT MONTHS HAS DECREASED, THE NUMBER APPROVED HAS GENERALLY REMAIN CONSISTENT WITH THOSE APPROVED IN EARLIER YEARS.
+HAVING REGARD, HOWEVER, TO THE AREA OF FULLY SERVICED LAND NOW AVAILABLE BOTH AT TAJ PO AND YUEN LONG, THE CORPORATION WOULD WISH TO SEE A SIGNIFICANT INCREASE IN THE NUMBER OF SITES BEING GRANTED,+ HE SAID.
MR LI SAID THE MAIN EVENTS DURING THE YEAR WERE THE COMMENCEMENT OF MANUFACTURING OPERATIONS AND THE GRANT OF A NEW LOAN FROM THE DEVELOPMENT LOAN FUND FOR THE CONSTRUCTION OF A STANDARD FACTORY BLOCK AT THE TAI PO INDUSTRIAL ESTATE.
BY THE END OF THIS YEAR, A TOTAL OF 10 GRANTEES WILL HAVE COMPLETED THEIR FACTORIES AND STARTED PRODUCTION AND 45 HECTARES OF INDUSTRIAL SITES WILL BE FORMED AND SERVICED.
HOWEVER, HE POINTED OUT, THE CONSTRUCTION PROGRAMME OF THE YUEN LONG INDUSTRIAL ESTATE HAD UNFORTUNATELY FALLEN BEHIND SCHEDULE DUE TO A COMBINATION OF UNFORESEEN +FUNG SHUI+ OBJECTIONS FROM LOCAL RESIDENTS AND UNANTICIPATED ROCK CONDITIONS IN THE DESIGNATED BORROW AREA.
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+AS A RESULT, THE PROJECT HAS MADE MINIMAL PROGRESS IN THE PAST SIX MONTHS, AND INSTEAD OF THE PLANNED 20 HECTARES OF INDUSTRIAL SITES ONLY FIVE HECTARES ARE AT PRESENT AVAILABLE, MR LI SAID.
VITON