MONDAY, NOVEMBER 3, 1986
TO IDENTIFY OBSTACLES AND OPPORTUNITIES FOR OVERSEAS TRADING, MR JACOBS SAID HONG KONG HAD AN ON-GOING PROGRAMME OF CONSULTANCY STUDIES ON FOUR MAJOR INDUSTRIAL GROUPS - ELECTRONICS; THE PLASTICS CONVERSION INDUSTRY: GARMENTS, TEXTILES AND RELATED
INDUSTRIES; AND METALS FABRICATION AND LIGHT ENGINEERING INDUSTRIES.
EACH STUDY AIMED AT EVALUATING THE ADEQUACY OF MANPOWER TRAINING, INDUSTRIAL ACCOMMODATION, LAND, CAPITAL AND INDUSTRIAL SUPPORT SERVICES FOR THE INDUSTRY CONCERNED.
HE SAID OVER THE NEXT FIVE YEARS EIGHT OTHER INDUSTRIAL STUDIES WOULD BE UNDERTAKEN.
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AS TO WHY THE GOVERNMENT DID NOT FUND MORE INDUSTRIAL RESEARCH AS SOME OF HONG KONG'S REGIONAL COMPETITORS HAD REPORTEDLY DONE, AND WHY THE GOVERNMENT HAD NOT SET UP AN INDUSTRIAL DEVELOPMENT BANK, MR JACOBS SAID: +HERE WE MUST NOT OVERLOOK THE FACT THAT HEAVY CAPITAL-INTENSIVE INDUSTRIES REQUIRE MUCH MORE PUBLIC SPENDING ON DIRECT INDUSTRIAL SUPPORT SERVICES THAN THE LIGHT LABOUR-INTENSIVE INDUSTRIES WHICH PREDOMINATE IN HONG KONG.
+SIMILARLY, BANK CREDIT IS MUCH TIGHTER ELSEWHERE THAN IN HONG KONG WHERE THERE ARE FEW MANUFACTURING INDUSTRIES WHICH REQUIRE LONG-TERM FINANCING.+
MR JACOBS SAID AS HONG KONG'S COMPETITORS WERE DEVELOPING RAPIDLY AND IF IT WAS NOT VIGILANT ITS MARKET SHARE COULD BE PLACED IN JEOPARDY.
+ WE MUST ENSURE THAT WE ARE RESPONDING PROPERLY TO INDUSTRY'S NEEDS IN A MANNER NEVERTHELESS CONSISTENT WITH OUR OVERALL AIM OF CONTAINING PUBLIC EXPENDITURE, HE STRESSED,
HE SAID THE INITIATIVES BEING TAKEN BY THE HONG KONG ASSOCIATION OF BANKS IN ADDRESSING THE SUBJECT OF RISK ASSESSMENT OF INDUSTRIAL LOANS AND THE AVAILABILITY OF VENTURE CAPITAL COULD BE SIGNIFICANT.
+THERE IS AN AWARENESS IN THE BUSINESS COMMUNITY OF INDUSTRY'S NEEDS. WE IN THE GOVERNMENT MUST PLAY OUR PART. THERE IS WORK TO DO,+ HE SAID.
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