10
THURSDAY, OCTOBER 4, 1984
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STRESSING THE IMPORTANCE OF THE MANUFACTURING SECTOR, SIR EDWARD POINTED OUT THAT DESPITE THE EXPANSION OF THE TERTIARY SECTOR IN RECENT YEARS, 35 PER CENT OF HONG KONG'S LABOUR FORCE WAS EMPLOYED IN MANUFACTURING INDUSTRIES AND THAT THE IR OUTPUT ACCOUNTED FOR 22 PER CENT OF THE GDP.
HE ALSO EMPHASISED THE IMPORTANCE OF INVESTMENT BY LOCAL INDUSTRY WHICH HAD NOT MATCHED THE GROWTH IN HONG KONG'S EXPORTS OVER RECENT YEARS.
OVERSEAS INVESTORS, ON THE OTHER HAND, HAD CONTINUED TO SHOW CONSIDERABLE INTEREST IN HONG KONG, BRINGING WITH THEM NEW TECHNOLOGY AND NEW IDEAS.
+BUT WE CONTINUE TO NEED LOCAL INVESTMENT, HONG KONG HAS BUILT UP AND MAINTAINED ITS INDUSTRIAL LEAD IN THE REGION THROUGH A CONTINUAL PROCESS OF CAPITAL RE-INVESTMENT IN NEW PLANT AND EQUIPMENT.
+
+ IN A COMPETITIVE WORLD, WE CANNOT AFFORD TO LET THAT LEAD SLIP. I TRUST THAT THE ANNOUNCEMENT OF THE DRAFT AGREEMENT ON THE FUTURE WILL NOW GIVE RENEWED CONFIDENCE AND LEAD TO A REVIVAL OF DOMESTIC INVESTMENT,+ SIR EDWARD SAID.
QUARRY BAY-CHA KWO LING TUNNEL PLANNED
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DEVELOPERS WOULD SHORTLY BE INVITED TO MAKE PROPOSALS FOR THE CONSTRUCTION, OPERATION AND FINANCING OF A FOUR-LANE CROSS- HARBOUR TUNNEL LINKING QUARRY BAY AND CHA KWO LING, THE GOVERNOR TOLD THE LEGISLATIVE COUNCIL TODAY.
SPEAKING ON THE SUBJECT OF INFRASTRUCTURE DEVELOPMENT
SIR EDWARD SAID THAT THOUGH CONGESTION AROUND THE CROSS-HARBOUR TUNNEL HAD BEEN TEMPORARILY EASED BY THE PASSAGE TAX, AN ADDITIONAL CROSSING WAS NEEDED, IN THE LONGER TERM.
+OUR CONCLUSIONS ARE THAT AT LEAST A FOUR-LANE ROAD CONNECTION IS REQUIRED, AND THAT THIS WOULD BE BEST PROVIDED BY A SUBMERGED TUBE TUNNEL LINKING QUARRY BAY AND CHA KWO LING, HE SAID.
STILL ON THE SUBJECT OF ROAD NETWORKS, HE SAID IN THE NEW TERRITORIES, THE DUAL-CARRIAGEWAY SECTION OF ROUTE ONE BETWEEN SHA TIN AND FANLING WOULD BE COMPLETED BY THE MIDDLE OF NEXT YEAR.
+WORK HAS ALSO BEGUN ON WIDENING ROUTE TWO, WHICH CONNECTS FANLING, YUEN LONG AND TUEN MUN, MAKING IT A DUAL-CARRIAGEWAY ROAD WITH SEPARATE SERVICE ROADS, HE SAID.
/REFERRING TO