25
WEDNESDAY, MARCH 26, 1986
INDUSTRY MUST BE GIVEN FULL RECOGNITION
***
THE BUDGET SHOULD TAKE INTO FULL ACCOUNT HONG KONG'S INDUSTRY AND ITS CONTRIBUTION TOWARDS THE TERRITORY'S SOCIO- ECONOMY, THE HON RICHARD LAI SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SPEAKING DURING THE BUDGET DEBATE, MR LAI SAID THE MANUFACTURING SECTOR STILL EMPLOYED ABOUT ONE MILLION PEOPLE, DIRECTLY AND INDIRECTLY CONTRIBUTING UP TO 40 PER CENT OF THE GROSS DOMESTIC PRODUCT (GDP).
HE SAID THAT UNLESS INDUSTRY HAD SUFFICIENT COMPETITIVE POWER TO SHARE OVERSEAS MARKETS, IT WOULD BE DIFFICULT TO PROVIDE SUFFICIENT EMPLOYMENT OPPORTUNITIES BOTH TO COPE WITH THE CONTINUOUSLY GROWING LABOUR FORCE AND TO MAINTAIN THE VALUE OF THE CURRENCY.
+MOREOVER, HONG KONG'S STABILITY AND PROSPERITY WILL BE ADVERSELY AFFECTED, HE SAID.
MR LA1 SAID THE FINANCIAL SECRETARY HAD NOT MENTIONED HOW THE GOVERNMENT WOULD ASSIST IN PROMOTING EXPORTS, BUT INSTEAD HAD EMPHASISED THE MAINTENANCE OF A NON-INTERVENTION+ POLICY AND OPTIMISTICALLY FORECAST A GROWTH IN EXPORT TRADE AND IN THE ECONOMY.
+HONG KONG'S EXPORT OF INDUSTRIAL PRODUCTS IS BESET WITH VARIOUS INTERNAL AND EXTERNAL PROBLEMS. I CANNOT SEE WHAT GROUNDS THERE ARE FOR OPTIMISTIC FORECASTS, HE SAID.
MR LAI SAID IT WAS NOW HIGH TIME FOR THE GOVERNMENT TO REVIEW THE EFFECTIVENESS OF ITS NON-INTERVENTION+ POLICY.
A +NON-INTERVENTION+ POLICY DID NOT MEAN THAT THE GOVERNMENT SHOULD NOT ASSIST OR SUPPORT THE DEVELOPMENT OF INDUSTRY, HE SAID.
+THE GOVERNMENT SHOULD LEND A HELPING HAND TO INDUSTRY IN ORDER TO ENSURE A STEADY DEVELOPMENT OF THE SOCIO-ECONOMY AND IT SHOULD PAY SPECIAL ATTENTION TO THE MORE INFLUENTIAL MANUFACTURING INDUSTRIES, HE SAID.
+ IF THE GOVERNMENT CAN TAKE INTO ACCOUNT AND COME TO UNDERSTAND THE PROBLEMS FACING INDUSTRY, THEN PROPER ASSISTANCE CAN BE PROVIDED TO STRENGTHEN ITS COMPETITIVE POWER,+ HE ADDED,
MR LAI NOTED THAT IN ORDER TO INCREASE THE COMPETITIVE POWER OF LOCAL INDUSTRY, THE GOVERNMENT COULD ASSIST BY PROVIDING COMPREHENSIVE SUPPORTIVE SERVICES USING CENTRALISED RESOURCES THROUGH THE PRODUCTIVITY COUNCIL, WITH THE AID OF ADVANCED TECHNOLOGY.
(NES GOVERNMENT