MONDAY, OCTOBER 21, 1985
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SIR DAVID SAID THAT THE POLICIES THAT HAD POWERED HONG KONG'S PROSPERITY WERE AN EXAMPLE TO THE WORLD. IT RANKED 15TH IN THE WORLD IN EXPORTS AND 16TH IN IMPORTS. TRADE WAS A VITAL COMPONENT TO HONG KONG'S ECONOMIC GROWTH.
HONG KONG'S TRADING PATTERNS, SIR DAVID SAID, WERE CHANGING AND IT HAD TO LOOK OUTWARD TO THE WORLD AND INWARD TO CHINA.
+OUR IMPORTANCE AS AN EXPORTER AND AN ENTREPOT IS ILLUSTRATED BY THE FACT THAT MORE THAN 1 000 OCEAN-GOING SHIPS VISIT HONG KONG EVERY MONTH.
+AND THIS IMPORTANCE IS GROWING AS INVESTORS AND INTERNATIONAL ORGANISATIONS REALISE THE TRUE SIGNIFICANCE OF THE AGREEMENT ABOUT THE FUTURE OF HONG KONG, HE SAID.
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TURNING TO THE TRADE FAIR, SIR DAVID SAID THE PARTICIPATION OF SO MANY LOCAL AND INTERNATIONAL COMPANIES WAS A VERY WELCOME INDICATION OF HONG KONG'S ECONOMIC HEALTH AND THE HONG KONG TRADE FAIR GROUP AND ITS SPONSORS DESERVED TO BE CONGRATULATED AND THANKED.
INDUSTRY DEPARTMENT SETTING UP NEW YORK OFFICE
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A SECOND NORTH AMERICAN OFF ICE TO PROMOTE INDUSTRIAL INVESTMENT IN HONG KONG WILL SOON BE IN OPERATION.
THE NEW OFFICE OF THE INDUSTRY DEPARTMENT IS BEING SET UP IN NEW YORK AND IT WILL COMPLEMENT THE INVESTMENT PROMOTION WORK BEING CARRIED OUT BY THE DEPARTMENT'S SAN FRANCISCO OFFICE, THE DIRECTOR OF INDUSTRY, MR JOHN YAXLEY SAID TODAY.
IT WILL BRING THE NUMBER OF OVERSEAS INVESTMENT PROMOTION OFFICES UP TO FIVE THE OTHERS ARE IN TOKYO, LONDON AND STUTTGART.
THE NEW YORK OFFICE WILL BE HEADED BY MR PAULUS CHAN, WHO IS ALREADY IN THE CITY FINAL ISING ARRANGEMENTS FOR ACCOMMODATION AND STAFFING. IT IS EXPECTED THAT THE OFFICE WILL BEGIN OPERATING IN NOVEMBER AND THE OFFICIAL OPENING IS PLANNED FOR FEBRUARY 1986.
+OVERSEAS INVESTMENT BRINGS BENEFITS TO HONG KONG BOTH DIRECTLY AND INDIRECTLY THROUGH THE INTRODUCTION OF NEW TECHNOLOGY AND THE UPGRADING OF OUR MANUFACTURING BASE, SAID MR YAXLEY.
+THE UNITED STATES IS THE LARGEST SINGLE SOURCE OF OVERSEAS INVESTMENT IN HONG KONG INDUSTRY AND THIS NEW OFFICE WILL HELP US TO FURTHER IMPROVE OUR SERVICE TO UNITED STATES AND CANADIAN COMPANIES THINKING ABOUT SETTING UP IN THE TERRITORY.+
OVER THE LAST TWO-AND-A-HALF YEAR ABOUT 80 NEW MANUFACTURING VENTURES HAVE BEEN ESTABLISHED IN HONG KONG BY OVERSEAS INVESTORS.