THURSDAY, OCTOBER 21, 1982
FOREIGN INVESTORS ARE CONFIDENT ABOUT HONG KONG
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THE DIRECTOR OF INDUSTRY, MR PETER TSAO, WHO RETURNED RECENTLY FROM A TWO-WEEK TRIP TO EUROPE, SAID TODAY (THURSDAY) THAT HE HAD LITTLE DIFFICULTY IN CONVINCING POTENTIAL INVESTORS THAT HONG KONG WOULD CONTINUE TO BE A VIABLE VENUE FOR INVESTMENT, PARTICULARLY AS A PLACE FOR JOINT VENTURES WITH LOCAL PARTNERS.
+OF COURSE ONE WORRYING ASPECT FOR ALL POTENTIAL INVESTORS WAS THE FUTURE OF HONG KONG. I WOULD, HOWEVER, SAY THAT PEOPLE WITH WHOM I HAD CONTACT WERE EXTREMELY WELL INFORMED ABOUT AFFAIRS IN HONG KONG; AND THEY SHOWED A DEGREE OF CONFIDENCE IN THE FUTURE OF HONG KONG WHICH WAS NOT QUITE MATCHED BY THE PERFORMANCE OF OUR OWN STOCK MARKET, MR TSAO TOLD THE LIONS CLUB OF KOWLOON EAST TODAY (THURSDAY).
DESCRIBING THE INTEREST SHOWN BY THE EUROPEAN BUSINESSMEN WHOM HE CONTACTED AS +OVERWHELMING+, HE SAID: +MOST EUROPEAN ENTERPRISES TEND TO FOLLOW A FAIRLY CONSERVATIVE POLICY, AND ARE THEREFORE CONTENT TO MAKE WHAT WE WOULD REGARD AS MARGINAL PROFITS OF FOUR TO FIVE PER CENT ON CAPITAL INVESTMENT.
+THEY LOOK AT HONG KONG WITH GREAT ADMIRATION, NOT ONLY FOR THE POSITION WE NOW OCCUPY IN WORLD FINANCE AND TRADE, BUT ALSO FOR THE SPEED WITH WHICH WE ARE ABLE TO RECOUP CAPITAL AND TURN PROF ITS, IN SHARP CONTRAST TO THEIR OWN SITUATION IN EUROPE.+
MR TSAO WAS IN EUROPE FARLIER THIS MONTH TO OPEN THE
GOVERNMENT'S OVERSEAS INDUSTRIAL PROMOTION OFFICE IN STUTTGART AND TO CONDUCT SEVERAL SEMINARS IN STUTTGART, COLOGNE AND STOCKHOLM.
HE SAID HE GAINED THE IMPRESSION THAT THERE WAS A TREMENDOUS AMOUNT OF INTEREST ON THE PART OF EUROPEAN BUSINESSMEN IN HONG KONG AS A POSSIBLE VENUE FOR INVESTMENT.
+AMONG OUR INVESTORS IN THE MANUFACTURING SECTOR, SOME 45 PER CENT COME FROM THE UNITED STATES, 35 PER CENT FROM JAPAN, 10 PER CENT FROM THE UNITED KINGDOM AND THAT, OF COURSE, LEAVES LITTLE TO BE ACCOUNTED FOR BY INVESTORS FROM EUROPE.
+ VERY MUCH HOPE THAT THE INTEREST THE EUROPEANS SHOWED DURING MY VISIT, AND THE MESSAGES THAT WE CARRIED ACROSS TO THEM, WILL RESULT IN THE EUROPEANS HAVING A MUCH LARGER SHARE OF
INVESTMENTS IN HONG KONG IN THE FUTURE, HE SAID.
MR TSAO POINTED OUT THAT THE DEPARTMENT'S PROMOTION CONSULTANCY DIVISION EVEN IN ITS ALMOST EMBRYONIC STATE HAD ALREADY ATTRACTED SEVEN INDUSTRIAL UNDERTAKINGS TO HONG KONG IN THE LAST 18 MONTHS.
EACH OF THEM GAVE HONG KONG TOTALLY NEW KNOWLEDGE OR
IMPROVED ITS EXISTING TECHNOLOGY.
CURRENTLY THE DEPARTMENT IS DEALING WITH 780 ACTIVE ENQUIRIES, 28 OF WHICH ARE REGARDED AS PROJECTS LIKELY TO RESULT IN ACTUAL INVESTMENT.
AIR TSAC