THURSDAY, OCTOBER 29, 1981
13
LOW-COST LAND FOR INDUSTRIES SUGGESTED
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THE TIME IS RIPE FOR THE GOVERNMENT TO ASSIST THE MANUFACTURING SECTOR BY MAKING MORE PRIVATE TREATY GRANTS OR SETTING THE SALE PRICES OF INDUSTRIAL LAND AT LOWER THAN THE MARKET VALUE, THE HON CHAN KAM-CHUEN SAID TODAY.
HE SUGGESTED THAT SUCH SUBSIDISED LAND MAY ONLY BE RE-SOLD UNDER VERY EXCEPTIONAL CIRCUMSTANCES TO THE GOVERNMENT AND RE-SALE TO THE OPEN MARKET FOR PROFIT SHOULD BE PROHIBITED, HE SAID.
+THIS NEW ARRANGEMENT WOULD NOT ONLY ENCOURAGE MORE LOCAL AND OVERSEAS INVESTMENTS IN OUR MANUFACTURING SECTOR, BUT ALSO BOOST HONG KONG'S FOREIGN EXCHANGE EARNINGS DUE TO INCREASED EXPORTS.
+ IN ADDITION, OUR WORKERS WOULD BE ASSURED THAT A PORTION OF OUR INDUSTRIAL LAND AND THE BUILDINGS THEREON ARE RESERVED FOR A CERTAIN NUMBER OF JOBS, THOUGH THE IR OWNERSHIP AND TYPES OF INDUSTRIAL UNDERTAKINGS MAY CHANGE.
BUT HE EMPHASISED THAT THIS NEW ARRANGEMENT SHOULD ONLY APPLY TO NEW INDUSTRIAL LAND SITES AND SHOULD NOT BE IMPOSED ON EXISTING INDUSTRIAL LAND OR BUILDINGS WHICH SHOULD CONTINUE TO BE FREELY REDEVELOPED BY THE IR OWNERS,
MR CHAN ALSO EXPRESSED CONCERN OVER THE SITUATION THAT SOME INDUSTRIAL ISTS WERE ANXIOUS TO REAP HUGE AND QUICK PROF ITS BY SELLING THE IR FACTORY SITES FOR RE-DEVELOPMENT INTO DOMESTIC OR COMMERCIAL PREMISES.
MANY OF THE FACTORIES WHICH HAD BEEN PULLED DOWN WERE NOT NECESSARILY INEFFICIENT ONES, HE NOTED.
TO PREVENT SIMILAR RECURRENCES, HE URGED THE GOVERNMENT TO STIPULATE IN FUTURE AUCTIONS OF INDÚSTRIAL LAND IN DESIGNATED AREAS THAT THE USE OF THE LAND MAY NOT BE CHANGED TO OTHER PURPOSES.
REFERRING TO THE WIDENING TRADE +GAP+ AND THE WEAKENING HONG KONG DOLLAR, MR CHAN CALLED ON THE PUBLIC TO GRADUALLY REDUCE THE IR EXPENSIVE HABIT OF TAKING TOO MANY PLEASURE TRIPS ABROAD AND SPENDING LAVISHLY ON NON-ESSENTIAL CONSUMER GOODS.
EXCESSIVE INDULGENCE, HE SAID, WOULD ONLY HELP WEAKEN THE HONG KONG DOLLAR AND THE LOWER INCOME GROUP WOULD CONSEQUENTLY SUFFER FROM RUNAWAY INFLATION,
HE POINTED OUT THAT THE TRULY STRONG ECONOMIC POWERS ARE NOT ONLY STRONG IN THE IR MANUFACTURING INDUSTRIES. PRODUCTIVITY AND EXPORTS, BUT THE IR SCHOOL CHILDREN ARE ALSO EDUCATED TO BE PROUD OF THEIR COUNTRIES AND USE THE IR OWN PRODUCTS.
/+THIS IS