THURSDAY, JANUARY 22, 1981
SIR MURRAY: HELP FOR INDUSTRY IN THE 1980'S
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1981 WILL SEE A HOST OF GOVERNMENT-BASED OR GOVERNMENT-LED ACTIVITIES AIMED AT ASSISTING INDUSTRY TO MOVE INTO THE 80'S, THE GOVERNOR, SIR MURRAY MACLEHOSE SAID TODAY.
IN A SPEECH DELIVERED AT THE ANNUAL DINNER OF THE HONG KONG GENERAL CHAMBER OF COMMERCE, SIR MURRAY POINTED OUT THAT PROSPECTS FOR 1981 WERE HARD TO PREDICT AT THIS MOMENT BECAUSE OF UNCERTAINTY IN WORLD SITUATION.
+BUT, + HE ADDED, LET US REMEMBER WE FACE THE SECOND YEAR OF THIS DECADE AGAINST A BACKGROUND OF AN UNPRECEDENTED FIVE YEAR PERIOD OF SUSTAINED GROWTH. IF THERE IS TO BE A PERIOD OF HESITATION, WE ARE WELL PREPARED FOR IT AND, IN ANY CASE, I DO NOT THINK WE FACE A PROLONGED OR EXCEPTIONALLY DIFFICULT SHORT TERM FUTURE.+
SIR MURRAY SAID ONE WAY IN WHICH THE GOVERNMENT COULD ASSIST THE SUCCESS OF OUR EXPORTERS WAS BY IMPLEMENTATION OF THE RECOMMENDATIONS OF THE ADVISORY COMMITTEE ON DIVERSIFICATION.
+THESE WERE DESIGNED TO ENABLE HONG KONG TO STRENGTHEN ITS ECONOMIC POSITION IN THE 80'S BY INCREASING THE SUPPLY OF
INDUSTRIAL LAND, IMPROVING INDUSTRIAL SUPPORT FACILITIES AND TECHNICAL BACK-UP SERVICES, AND STRENGTHENING PRESENT ARRANGEMENTS FOR BOTH TRADE PROMOTION AND INDUSTRIAL INVESTMENT PROMOTION.
+ALL THESE THINGS, AND THERE WERE 47 RECOMMENDATIONS IN ALL ARE BEING IMPLEMENTED WITH THE URGENCY THAT THEY DESERVE,+ SIR MURRAY SAID.
OF THE GREATEST CONCERN TO ALL OF US, THE GOVERNOR SAID, ARE THE OUTCOME OF NEGOTIATIONS FOR RENEWAL OF THE MULTI-FIBRE ARRANGEMENTS AND THE RELATED BI-LATERALS.
HE SAID HONG KONG HAD DONE AND WAS DOING ALL IT POSSIBLY COULD TO SHOW UP THE FALLACIES IN THE ARGUMENTS USED TO SUPPORT THE ARRANGEMENTS FORCED ON US IN 1977 AND TO DEMONSTRATE HOW THREADBARE THEY APPEAR IN THE LIGHT OF SUBSEQUENT EXPERIENCE.
+HOWEVER, WHATEVER THE LOGIC OF OUR CASE, IT IS INEVITABLE THAT DEVELOPED GOVERNMENTS WILL BE SUBJECT TO POLITICAL PRESSURES AT THE TIME OF THE NEGOTIATIONS, SIR MURRAY SAID.
SIR MURRAY SAID THE LAST HALF DECADE HAD SEEN A HEARTENING IMPROVEMENT IN THE STANDARD OF LIVING OF NEARLY ALL OUR PEOPLE.
THE DROP IN THE GROWTH RATE OF REAL WAGES AND RISE IN UNEMPLOYMENT WHICH WE EXPERIENCED LAST YEAR SHOULD BE TEMPORARY AS WORLD ECONOMIC ACTIVITIES REVIVE AND OUR LABOUR SUPPLY BECOMES MORE STABLE, HE ADDED.
IN HIS SPEECH, SIR MURRAY ALSO TALKED ON THE IMPACT OF IMMIGRATION, INFLATION, COMMERCIAL RENTS, EXPANSION OF THE PUBLIC HOUSING PROGRAMME, MAJOR TRANSPORT IMPROVEMENTS, AND OUR TRADE RELATIONS WITH CHINA,
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