TUESDAY, APRIL 10, 1984
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OUTBOARD MARINE EXPANDS IN HONG KONG
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THE INVESTMENT BY OUTBOARD MARINE ASIA LTD TO EXPAND ITS PRODUCTION FACILITIES ON TSING YI ISLAND IS FURTHER EVIDENCE THAT HONG KONG CONTINUES TO BE AN ATTRACTIVE PLACE FOR FOREIGN INVESTORS DESPITE STRONG COMPETITION FROM NEIGHBOURING COUNTRIES.
IT WAS STATED TODAY (TUESDAY) BY THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, WHEN HE OPENED THE COMPANY'S $20 MILLION REGIONAL PRODUCT SUPPORT CENTRE ON TSING YI ISLAND.
+OUTBOARD MARINE. AS ONE OF MANY EXAMPLES OF PROFITABLE INVESTMENT BY OVERSEAS COMPANIES IN HONG KONG'S MANUFACTURING INDUSTRY, IS ONE OF THE FIRST MAJOR OVERSEAS COMPANIES TO APPRECIATE WHAT HONG KONG HAS TO OFFER AS AN OFFSHORE MANUFACTURING BASE,+ SAID MR HO.
THE COMPANY, OWNED BY AMERICAN INTEREST, STARTED TO PRODUCE OUTBOARD MOTORS ON TSING YI NINE YEARS AGO.
TODAY, THE PLANT NOT ONLY PRODUCES COMPLETE OUTBOARD ENGINES FOR OUTBOARD MARINE'S INTERNATIONAL MARKETS BUT IS ALSO ENGAGED IN VOLUME PRODUCTION OF ELECTRICAL COMPONENTS FOR SUPPLY TO THE COMPANY'S OTHER PLANTS WORLDWIDE.
+THE DEVELOPMENT OF THIS SUBSTANTIAL EXTENSION TO THE COMPANY'S EXISTING PLANT IS, BELIEVE, FURTHER EVIDENCE OF HONG KONG'S CONTINUED ATTRACTION TO FOREIGN INVESTORS, DESPITE STRONG COMPETITION FROM ELSEWHERE IN THE REGION, MR HO REMARKED.
HONG KONG NOW HAS OVER 500 OVERSEAS ESTABLISHMENTS MANUFACTUR ING A WIDE RANGE OF GOODS, WITH A TOTAL INVESTMENT OF NEARLY HK$8 BILLION, EMPLOYING ABOUT 11 PER CENT OF THE LOCAL INDUSTRIAL LABOUR FORCE.
OF THESE, 132 COMPANIES ARE WHOLLY OR PARTLY OWNED BY UNITED STATES INTERESTS AND HAVE INVESTED ABOUT HK$3.6 BILLION.
+WELCOME AS THOSE QUANTIFIABLE FIGURES ARE, WE CONSIDER IT MORE IMPORTANT THAT OVERSEAS INVESTMENT IN ONE FORM OR ANOTHER HAS CONTRIBUTED SIGNIFICANTLY TO THE INTRODUCTION OF NEW TECHNOLOGIES AND INNOVATIVE PRODUCTS INTO HONG KONG.
+THE TRAINING PROVIDED AT THIS CENTRE IS A GOOD EXAMPLE OF HOW OVERSEAS INDUSTRIAL INVESTMENT CAN HELP HONG KONG'S WORK FORCE TO UPGRADE ITS TECHNICAL SKILLS, AND ACQUIRE THE MORE SOPHISTICATED TECHNOLOGY WHICH IS VITAL TO OUR INDUSTRIAL GROWTH, + MR HO SAID.
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