THURSDAY, MAY 3, 1984
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MANUFACTURERS URGED TO CONTINUE INVESTING
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MANUFACTURERS SHOULD KEEP INVESTING IN NEW MACHINERY, RESEARCH, DESIGN AND WORKFORCE, TO STAY AHEAD IN BUSINESS, THE SECRETARY FOR TRADE AND INDUSTRY, MR JOHN YAXLEY SAID TODAY.
HE WAS ADDRESSING A RECEPTION MARKING KRAS ASIA'S COMPLETION OF TEN YEARS OF SUCCESSFUL OPERATION IN HONG KONG AND THE LATEST PHASE OF EXPANSION OF THE COMPANY'S PREMISES IN KWUN TONG.
KRAS ASIA, OWNED BY AMERICAN INTERESTS, IS ONE OF THE COMPANIES WHICH USED THE SERVICES OF THE INDUSTRY DEPARTMENT'S INDUSTRIAL PROMOTION UNIT WHEN ITS HONG KONG OPERATION WAS BEING SET UP IN 1973.
THE COMPANY HAS STEADILY EXPANDED AND HAS BECOME A LEADING SUPPLIER OF QUALITY PRECISION TOOLING EQUIPMENT IN THE ASIAN PACIFIC REGION.
+THE COMPANY IS ANOTHER EXAMPLE OF HOW FOREIGN INVESTMENT HERE HAS BROUGHT MUTUAL BENEFIT TO THE INVESTOR THROUGH THE HIGH PROFITABILITY OF HIS LOCAL FACTORY ON THE ONE HAND AND, ON THE OTHER, TO THE ECONOMY THROUGH THE INTRODUCTION OF NEW TECHNIQUES AND THE AVAILABILITY LOCALLY OF BETTER QUALITY PRODUCTS AND MORE SOPHISTICATED EXPERTISE,+ MR YAXLEY SAID.
HE SAID THE PRECISION TOOLING INDUSTRY PLAYED AN IMPORTANT SUPPORTING ROLE IN THE CONTINUING GROWTH OF THE ELECTRONICS AND OTHEWR INDUSTRIES.
THE CONSTANT UPGRADING AND MODERNISATION OF KRAS ASIA'S PRODUCTION FACILITIES REFLECTED THE GROWING DEMAND FOR HONG KONG'S TOOLING INDUSTRY IN TERMS OF QUANTITY AND QUALITY.
+THIS TREND MUST CONTINUE AS MANUFACTURERS SEARCH FOR MORE EFFICIENT AND COST-EFFECTIVE PRODUCTION METHODS TO KEEP THEMSELVES AHEAD OF OVERSEAS COMPETITORS. THERE IS, WITHOUT DOUBT, A BRIGHT FUTURE FOR FIRMS SUCH AS KRAS WHICH HAVE THE TECHNICAL RESOURCES AND ENTREPRENEURIAL ACUMEN TO STAY IN THE FOREFRONT OF THIS LINE OF BUSINESS, MR YAXLEY SAID.
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