TUESDAY, APRIL 10, 1984
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ON THE IMPORTANCE OF BRITAIN AS A BUSINESS PARTNER FOR HONG KONG, MR YAXLEY NOTED THAT TWO-WAY TRADE IN 1983 AMOUNTED TO 1 515 MILLION POUNDS STERLING OR FIVE PER CENT OF HONG KONG'S TOTAL TRADE. MANY BRITISH COMPANIES, SOME OF THEM HOUSEHOLD NAMES, ARE REPRESENTED IN HONG KONG. MORE THAN 50 OF THEM ARE INVOLVED IN HONG KONG'S MANUFACTURING SECTOR WITH A TOTAL INVESTMENT OF AROUND 40 MILLION POUNDS STERLING.
+ IMPRESSIVE THOUGH THESE FIGURES MAY SOUND, HOWEVER, IN OUR VIEW THEY ARE NOT ENOUGH. THE INVESTMENT FIGURES, FOR EXAMPLE, REPRESENT LESS THAN SIX PER CENT OF TOTAL OVERSEAS INVESTMENT IN HONG KONG MANUFACTURING INDUSTRY. BY COMPARISON, JAPAN HAS ABOUT 30 PER CENT, OR INVESTMENT WORTH SOMETHING LIKE 200 MILLION POUNDS STERLING, AND THE UNITED STATES, OUR MAJOR SOURCE OF OVERSEAS INVESTMENT HAS 46 PER CENT, OR ABOUT 350 MILLION POUNDS STERLING WORTH.
OUTLINING HONG KONG'S POTENTIAL INDUSTRIES FOR OVERSEAS INVESTORS, MR YAXLEY SAID THAT ELECTRONICS OFFERED THE GREATEST PROMISE AND WIDEST RANGE OF OPPORTUNITIES.
+WE HAVE A LONG HISTORY IN THIS INDUSTRY DATING BACK TO THE EARLY 1960'S. WE HAVE HOWEVER COME A LONG WAY SINCE THEN. PPERSONAL, MICRO AND MINI COMPUTERS AND PERIPHERALS ARE NOW BEING MADE IN HONG KONG, AS WELL AS A WIDE RANGE OF OTHER PRODUCTS, WE HAVE THREE WAFER FABRICATION PLANTS OPERATING AT THE INDUSTRIAL ESTATE IN TAI PO.
+WE ALSO BELIEVE THAT THERE IS CONSIDERABLE POTENTIAL IN THE LIGHT TO MEDIUM ENGINEERING AND METALS INDUSTRIES, FOR WHICH WE HAVE A STRONG BASE IN OUR LONG ESTABLISHED SHIP AND BOAT YARDS. THE GROWING PACE OF EXPLORATION OF THE SOUTH CHINA SEA OIL RESOURCES CAN BE EXPECTED TO OPEN UP FURTHER POSSIBILITIES IN THIS AND OTHER FIELDS.+
+OTHER INDUSTRIES OFFERING POSSIBILITIES ARE DOMESTIC ELECTRICAL APPLIANCES, FOOD AND DRINK PACKAGING AND PROCESSING, BUILDING MATERIALS AND OTHER CONSTRUCTION INDUSTRY RELATED PRODUCTS, PRINTING AND PUBLISHING.
+THERE IS ALSO A CONTINUING NEED FOR THE EXPANSION OF OUR LINKAGE AND SUPPORT INDUSTRIES, PARTICULARLY THOSE INVOLVING PRECISION METAL WORKING IN ITS VARIOUS FORMS, HE SAID.
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