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45
WEDNESDAY, NOVEMBER 27, 1985
MORE COMPREHENSIVE INDUSTRIAL POLICY NEEDED
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THE GOVERNMENT SHOULD STEP UP ITS EFFORT IN WORKING OUT A MORE COMPREHENSIVE INDUSTRIAL POLICY TO HELP LOCAL INDUSTRY TO ADAPT ITSELF TO THE CHANGING TRADE CLIMATE AND TO ACHIEVE CONTINUED EXPORT GROWTH.
THE CALL WAS MADE BY THE HON NGAI SHIU-K IT DURING THE DEBATE ON THE GOVERNOR'S ADDRESS IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MR NGAI SAID THAT IN RECENT YEARS, A NUMBER OF HONG KONG'S TRADE PARTNERS ESPECIALLY THE UNITED STATES, TENDED TO ADOPT THE POLICY OF TRADE PROTECTIONISM, ONE AFTER ANOTHER, GIVING A SERIOUS BLOW TO THE EXPORT-ORIENTED MANUFACTURING INDUSTRY OF DEVELOPING COUNTRIES AND REGIONS.
+AS ITS VICTIM HONG KONG REALLY NEEDS TO DEVISE A COUNTER- STRATEGY TO NEUTRALISE THE POUNDING OF PROTECTIONISM, HE SAID.
+HOWEVER, IN VIEW OF THE PRESENT RAMPANCY IN TRADE PROTECTIONISM, WHETHER A SINGLE BILL WOULD BE PASSED OR VETOED IS NO LONGER THE CRUX OF THE PROBLEM.
+WHAT IS MORE CRUCIAL IS FOR THE GOVERNMENT TO JOIN HANDS WITH THE INDUSTRIAL AND COMMERCIAL SECTOR IN PLANNING A LONG TERM INDUSTRIAL STRATEGY IN ORDER TO BUILD A BETTER FOUNDATION FOR OUR MANUFACTURING INDUSTRY, THEREBY MAKING OUR EXPORT TRADE MORE COMPETITIVE, HE SAID.
MR NGAI SAID THAT IN AN ERA OF NEW TECHNOLOGY AND MODERN ADVANCEMENT, PRODUCT RESEARCH AND DEVELOPMENT HAD BECOME KEY LINK IN THE MANUFACTURING INDUSTRY.
+ THE INDUSTRIAL SECTOR ALSO REALISES THAT ONLY PRODUCT RESEARCH AND DEVELOPMENT COULD ENABLE US TO MEET THE CHANGING DEMANDS OF THE MARKETS.
+ IT IS ONLY THROUGH DIVERSIFICATION OF PRODUCTS THAT WE COULD NULL IFY THE PRESSURE ARISING FROM FOREIGN PROTECTIONISM, HE SAID.
HE SAID HE WAS DISAPPOINTED THAT AT PRESENT PRODUCT RESEARCH AND DEVELOPMENT WAS NEITHER COMMON NOR FULLY DEVELOPED IN HONG KONG'S INDUSTRIAL SECTOR AND ONLY A HANDFUL OF CONSIDERABLY- SEIZED MANUFACTURERS INVESTED IN IT. HOWEVER, MOST SMALL MANUFACTURERS, LIMITED BY THE IR SIZE, WERE UNABLE TO SHOULDER THE EXPENSES IN THIS ASPECT.
HE SUGGESTED THAT THE GOVERNMENT SHOULD CONSIDER SETTING UP A SPECIAL ORGANISATION OR DEPARTMENT FOR DEVISING A COMPREHENSIVE AND SYSTEMATIC PLAN TO SUPPLY TECHNICAL CONSULTING AND COUNSELLING SERVICES TO MANUFACTURERS IN THE FIELD OF PRODUCT RESEARCH AND DEVELOPMENT, AS WELL AS GRANTING TAX EXEMPTION TO INVESTMENTS CH PRODUCT RESEARCH AND DEVELOPMENT AS A SORT OF INCENTIVE.
/AS PRODUCT