WEDNESDAY, JUNE 16, 1982
20
HONG KONG OPENS NEW INDUSTRIAL
INVESTMENT PROMOTIONS OFFICE IN UK
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THE HONG KONG GOVERNMENT OPENED A NEW INDUSTRIAL INVESTMENT PROMOTIONS OFFICE IN LONDON TODAY (WEDNESDAY).
THE OFFICE HAS BEEN SET UP TO ASSIST BRITISH BUSINESSMEN AND INDUSTRIAL ISTS INTERESTED IN EITHER JOINT VENTURE PROJECTS WITH HONG KONG INDUSTRIALISTS OR INVESTING IN THE BRITISH TERRITORY.
ITS MAIN AIM WILL BE TO ATTRACT HIGH-TECHNOLOGY INDUSTRY AND EXPERTISE TO HELP BROADEN THE TERRITORY'S INCREASINGLY SOPHISTICATED AND DIVERSIFYING INDUSTRIAL BASE AND TO INCREASE BRITAIN'S SHARE IN THE LOCAL INDUSTRIAL SECTOR.
THE HONG KONG COMMISSIONER IN LONDON, SIR JACK CATER, SAID TODAY THAT IN CONTRAST TO THE SUCCESSFUL INVOLVEMENT IN THE COMMERCIAL AND FINANCIAL SECTORS, BRITISH COMPANIES HAD LARGELY IGNORED THE OPPORTUNITIES OFFERED BY HONG KONG INDUSTRY.
THERE WERE 40 BRITISH COMPANIES WITH MANUFACTURING INTERESTS IN HONG KONG, BUT THIS REPRESENTED ONLY EIGHT PER CENT OF TOTAL OVERSEAS INDUSTRIAL INVESTMENT COMPARED WITH 65 PER CENT HELD BY THE USA AND JAPAN COMBINED.
+TO THE EXTENT THAT HONG KONG IS TO BLAME FOR NOT MAKING BRITISH INDUSTRY AWARE OF THESE OPPORTUNITIES, I HOPE THE ESTABLISHMENT OF THE LONDON INDUSTRIAL INVESTMENT PROMOTIONS OFFICE WILL REMEDY THIS,+ SIR JACK SAID AT THE OPENING OF THE NEW OFFICE.
SIR JACK EMPHASISED THE STRATEGIC OPPORTUNITIES OFFERED BY HONG KONG WHICH IS UNIQUE IN BEING BOTH A FOCAL POINT IN THE PACIFIC BASIN THE FASTEST GROWING ECONOMIC REGION IN THE WORLD - AND THE GATEWAY TO CHINA+.
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HE SAID THAT HONG KONG WANTED TO ATTRACT BRITISH COMPANIES THAT COULD NOT BE COMPETITIVE IN THE FAR EAST MARKETS FOR REASONS OF PRICE OR DISTANCE TO CONSIDER MANUFACTURING IN HONG KONG, EITHER ALONE OR IN A JOINT VENTURE WITH LOCAL INTERESTS, TO TAKE ADVANTAGE OF HONG KONG'S INDUSTRIAL EFFICIENCY AND MARKETING EXPERTISE IN THE REGION.
NOT ONLY WOULD THESE COMPANIES INCREASE THEIR WORLD MARKET SHARE, BUT DOMESTIC PRODUCTION WOULD BENEFIT FROM THE INPUTS SUPPLIED TO THEIR HONG KONG VENTURES, HE SAID.
THE NEW PRINCIPAL CONSULTANT ON INDUSTRIAL INVESTMENT PROMOTION, MR DONALD FLETCHER, SAID HONG KONG WAS PRIMARILY INTERESTED IN
INDUSTRIES WHICH HAD PRODUCTION TECHNOLOGY, SKILLS NEW TO THE TERRITORY, OR WHICH COULD INTRODUCE NEW PRODUCTS AND SOPHISTICATED MANAGEMENTS.
+THERE ARE GREAT OPPORTUNITIES FOR BRITISH COMPANIES IN HONG KONG TO WIN NEW ORDERS, BOOST SALES OF BRITISH COMPONENTS AND CREATE JOB OPPORTUNITIES BACK HOME, HE SAID.