THURSDAY, NOVEMBER 6, 1986-
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HAYE OUTLINES GOOD PROSPECTS FOR UK FIRMS
*****
NOW IS CLEARLY THE TIME FOR MORE BRITISH BUSINESSMEN TO INVEST IN HONG KONG AS ALL THE AUGURIES ARE GOOD.
THIS WAS THE MESSAGE GIVEN BY HONG KONG'S COMMISSIONER IN LONDON, MR COLVYN HAYE, WHEN HE ADDRESSED A BRITISH BOARD OF TRADE SEMINAR IN THE BRITISH CAPITAL TODAY (THURSDAY).
THE SEMINAR WAS ENTITLED +HONG KONG: THE BASE FOR CHINA
TRADE+.
MR HAYE SAID THE TERRITORY HAD THE PRE-CONDITIONS FOR SUCCESS, AND HE URGED BRITISH BUSINESSMEN TO FOLLOW IN THE STEPS OF THEIR COLLEAGUES WHO HAD ALREADY INVESTED IN HONG KONG.
HE POINTED OUT THAT THE ECONOMY WAS AGAIN ON THE UPTURN, WITH FORECASTS OF GROWTH IN EXCESS OF CAUTIOUS EXPECTATION, AND THERE WAS NEGLIGIBLE UNEMPLOYMENT AND LOW INFLATION.
HONG KONG COULD OFFER AN EDUCATED, INDUSTRIOUS AND HIGHLY MOBILE WORKFORCE, ENTERPRISING BUSINESSMEN, FIRST-RATE FINANCIAL SERVICES AND COMMUNICATIONS, AND A FREE MARKET PLACE IN WHICH THE ADMINISTRATION WOULD INTERVENE ONLY IF THERE WAS NEED.
EXPLAINING WHY THERE WAS CONFIDENCE IN THE FUTURE, MR HAYE SPOKE OF THE SUCCESS WITH WHICH THE SINO-BRITISH JOINT DECLARATION WAS BEING IMPLEMENTED.
THE MACHINERY OF THE AGREEMENT THE JOINT LIAISON GROUP. THE LAND COMMISSION, AND THE BASIC LAW COMMITTEES WAS WORKING CONSTRUCTIVELY.
SURVEYING THE PAST. MR HAYE SAID THE RISE OF HONG KONG FROM THE ASHES OF WORLD WAR 11 WAS A MIRACLE OF SURVIVAL AND OPPORTUNISM, HONG KONG HAD MADE A VIRTUE OF NECESSITY, CAPITALISED ON CRISES AND TURNED VICISSITUDE TO FINANCIAL GAIN.
REFERRING TO THE PRESENT DECADE MR HAYE POINTED OUT THAT DESPITE THE FINANCIAL LOW IN 1982 AMERICAN AND JAPANESE BUSINESSMEN HAD CONTINUED TO INVEST IN HONG KONG, AS THEY REALISED THE TERRITORY HAD THE DURABILITY AND RESILIENCE TO BOUNCE BACK, AS INDEED IT DID.
MR HAYE CITED VARIOUS BRITISH FIRMS AS EXAMPLES OF COMPANIES WHICH HAD TRADED SUCCESSFULLY IN HONG KONG OVER THE YEARS, AND EMPHASISED THAT THERE WAS PLENTY OF SCOPE FOR MORE.
GOOD BUSINESS COULD BE DONE IN THE IMMEDIATE YEARS AHEAD AND BEYOND THAT THE LONG-TERM PROSPECT FOR TRADING WITH CHINA OFFERED RETTER BUSINESS STILL, HE POINTED OUT.
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