IS
DAILY INFORMATION BULLETIN-SUPPLEMENT
ISSUED BY GOVERNMENT INFORMATION SERVICES BEACONSFIELD HOUSE, HONG KONG TEL: 5-233191
SPEECH BY HIS EXCELLENCY THE GOVERNOR SIR EDWARD YOUDE GOMO MBE AT THE OPENING CEREMONY OF THE NEW HONG KONG CHINESE MANUFACTURERS' ASSOCIATION'S BUILDING IN CENTRAL
ON MONDAY, MARCH 5 1984 AT 2.30 PH
Mr Ngai, Ladies and Gentlemen,
"It gives me great pleasure to be here this afternoon for the opening of the new Headquarters Building of the Chinese Manufacturers' Association of Hong Kong.
"The CMA is one of the oldest and largest industrial associations in Hong Kong. From the handful of far-sighted entrepreneurs who first founded it in 1934, membership has grown over the years to some 2,800 now, representing the full range of our manufacturing industry. This expansion mirrors the dramatic growth in Hong Kong's economy in the past four decades. It also bears testimony to the CMA's energetic role in representing the interests of local industries.
"The importance of manufacturing industry to Hong Kong must be clear to us all. It is the backbone of our economy, and accounts for an estimated 25% of our Gross Domestic Product. It is an important foreign exchange earner. In 1982, the value of Hong Kong's domestio exports of manufactured goods amounted to $83 billion or some 30% of total trade in that year. The figure for 1983 was $104 billion, or 31% of total trade. Manufacturing industry is also our largest employer: accounting for some 35% of total employment.
"The Govement's economic policy of minimum interference with the workings of the market place is well-known. But an essential, though much less well recognised, element of this policy is the provision by Government of an efficient infrastructure in which trade and industry can flourish.
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