WEDNESDAY, NOVEMBER 23, 1983
19
THE FIRST FACTORY ON THE ESTATE, THAT OF MESSRS MODERN METAL AND REFINING LIMITED, HAD RECENTLY BEEN COMPLETED AND HAD COMMENCED OPERATIONS, HE SAID.
MR WONG ADDED, THE COMING ON STREAM OF LARGE AREAS OF LAND AT YUEN LONG HAS CREATED A SHORT-TERM SURPLUS, AND NECESSITATED AN APPROACH TO GOVERNMENT FOR THE LOAN REPAYMENTS TO BE RESCHEDULED.+
FOLLOWING A REVIEW OF THE CORPORATION'S SELECTION AND LEASING POLICIES AND PROCEDURES, THE BOARD DECIDED TO OFFER SITES AT YUEN LONG ESTATE BY TENDER TO COMPANIES WHICH SATISFY THE DEFINITIVE CRITERIA.
+THIS LEASING OF LAND BY MEANS OF TENDER SUPPLEMENTS THE NORMAL APPLICATION METHOD AND IT IS HOPED THAT THIS DIRECT APPROACH WILL ENCOURAGE MORE PROGRESSIVE INDUSTRIAL ISTS TO TAKE ADVANTAGE OF THE FACILITIES OFFERED BY THE ESTATE, MR WONG SAID.
MEANWHILE, TO UTILISE THE RELATIVELY LARGE AREAS OF LAND BECOMING AVAILABLE AT YUEN LONG, THE GOVERNMENT HAS, BY AN AMENDMENT TO THE CORPORATION ORDINANCE AND CONDITIONS OF GRANT, AUTHORISED THE CORPORATION TO GRANT SHORT-TERM LEASES OF LAND FOR STORAGE PURPOSES, THUS ENABLING INCOME TO BE DERIVED FROM THE LAND IMMEDIATELY AVAILABLE WITHOUT COMPROMISING THE LONG TERM OBJECTIVES.
+ IN VIEW OF CURRENT MARKET CONDITIONS, THE CORPORATION HAS REVISED ITS PROGRAMME FOR THE CONSTRUCTION OF STANDARD FACTORY BLOCKS BUT IS PROCEEDING WITH ONE BLOCK AT YUEN LONG ESTATE, WHICH IS DUE FOR COMPLETION EARLY IN 1984, + MR WONG SAID.
TURNING TO LAND PREMIUM, MR WONG SAID THAT THIS HAD BEEN REDUCED FROM HK$925 TO HK$800 PER SQUARE METRE FROM JULY 1, 1983 TO REFLECT REALISTICALLY THE CURRENT MARKET RATE FOR LAND AND PROPERTY AND TO HELP STIMULATE INTEREST.
HOWEVER HE STRESSED THAT THE INTRODUCTION OF THESE PROCEDURAL MODIFICATIONS IN NO WAY CHANGED THE CORPORATION'S POLICY OF ENSURING THAT THE INDUSTRIAL ESTATES MET THE OBJECTIVE OF BROADENING HONG KONG'S INDUSTRIAL BASE.
MR WONG SAID, I WOULD LIKE TO ECHO THE CORPORATION CHAIRMAN'S CONCLUDING OBSERVATION THAT WE ARE BEGINNING TO SEE A TURNAROUND IN WORLD ECONOMIC CONDITIONS AND THAT THE YEAR FROM APRIL 1, 1983 WILL SEE THE SUSTAINED GROWTH OF INDUSTRIAL DEVELOPMENT IN HONG KONG, TOWARDS WHICH I AM SURE THE CORPORATION WILL CONTINUE TO MAKE A VALUABLE CONTRIBUTION.+
PROMOTION OF INDUSTRIAL AUTOMATION CONSIDERED
***
THE HONG KONG PRODUCTIVITY CENTRE IS CONSIDERING A PROPOSAL TO PROMOTE INDUSTRIAL AUTOMATION IN HONG KONG, THE HON ALLEN LEE SAID IN THE LEGISLATIVE COUNCIL TODAY.
TABLING THE CENTRE'S ANNUAL REPORT ENDING MARCH 31, 1983, MR LEE SAID THERE HAD BEEN GOOD RESPONSE TO THE CENTRE'S FACILITIES.
/THESE FACILITIES
Page 20Page 21