THURSDAY, JANUARY 8, 1987
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IN HIS TALK ON HONG KONG BEFORE AND AFTER 1997, MR LAM OUTLINED THE CONCRETE STEPS THAT HAD BEEN TAKEN TO IMPLEMENT THE SINO-BRITISH JOINT DECLARATION SIGNED IN 1984.
HE ALSO DESCRIBED TO THE AUDIENCE OF SOUTHERN CALIFORNIAN BUSINESS EXECUTIVES ATTENDING THE TRADE AND INVESTMENT SEMINAR, ORGANISED BY MR LAM'S OFFICE, HOW AMERICAN BUSINESS INFLUENCE IN THE TERRITORY WAS INCREASING.
IT WAS ESTIMATED THAT MORE THAN US$800 MILLION HAD BEEN INVESTED IN HONG KONG, IN 142 MANUFACTURING ESTABLISHMENTS EMPLOYING SOME 40 000 PEOPLE. THIS REPRESENTED 53 PER CENT OF THE TOTAL DIRECT OVERSEAS INVESTMENT IN MANUFACTURING INDUSTRY.
HE NOTED THAT WHILE THE UNITED STATES WAS HONG KONG'S LARGEST EXPORT MARKET, ACCOUNTING FOR MORE THAN 45 PER CENT OF TOTAL DOMESTIC EXPORTS, IT WAS ALSO HONG KONG'S THIRD LARGEST SUPPLIER PROVIDING 11 PER CENT OF ITS IMPORTS, ON THIS BASIS, EACH PERSON IN HONG KONG BOUGHT US$577 WORTH OF U.S. PRODUCTS A YEAR.
+ABOVE ALL, THE UNITED STATES AND HONG KONG SHARE THE SAME BELIEF IN FREE AND FAIR TRADE, IN OPEN MARKETS AND FREE COMPETITION AND ARE ALLIES IN ENDEAVOURING TO LIBERALISE WORLD TRADE AND
INVESTMENT, + MR LAM EMPHASISED.
A FORMER CHIEF EXECUTIVE OF A MAJOR AMERICAN COMPANY PRAISED HONG KONG AS A FINE PLACE FOR DOING BUSINESS.
MR ROBERT LUNDEEN, FORMER CHAIRMAN OF THE DOW CHEMICAL COMPANY SAID THAT BASED ON DOW'S LONG EXPERIENCE IN HONG KONG THE TERRITORY WAS A +WINNER+ AS A REGIONAL CENTRE 20 YEARS AGO AND WOULD BE A WINNER BY A SUBSTANTIAL MARGIN TODAY AND TOMORROW.
HE OUTLINED THAT QUALITIES THAT MADE HONG KONG IDEAL FOR A REGIONAL HEADQUARTERS AND ADDED THAT HE BELIEVED A REASONABLE PRAGMATIC SYSTEM OF GOVERNMENT WOULD EVOLVE IN THE TERRITORY AFTER 1997.
INVESTMENTS SUCH AS THE DOW CHEMICAL COMPANY HAD MADE IN HONG KONG SERVED AS A MAGNET TO ATTRACT TALENTED HONG KONG CHINESE GRADUATES OF AMERICAN AND BRITISH COMMONWEALTH UNIVERSITIES BACK TO HONG KONG, MR LUNDEEN SAID, POINTING OUT THAT THE COMPANY'S LARGE MODERN POLYSTYRENE MANUFACTURING PLANT LOCATED ON TSING YI ISLAND WAS STAFFED AND MANAGED ENTIRELY BY HONG KONG CHINESE.
ALSO TAKING PART IN THE SEMINAR WERE THE INDUSTRY DEPARTMENT'S PRINCIPAL CONSULTANT, MR ROBERT ASHWORTH, WHO DISCUSSED INDUSTRIAL INVESTMENT OPPORTUNITIES IN THE TERRITORY: HONGKONG AND SHANG HA I BANKING CORPORATION OFFICIAL, MR SIMON EDWARDS, TALKING ON HONG KONG AS THE GATEWAY TO CHINA; AND HONG KONG TRADE DEVELOPMENT COUNCIL REGIONAL REPRESENTATIVE FOR THE AMERICA'S, MR ANDREW MA, WHO PINPOINTED TWO-WAY TRADE OPPORTUNITIES BETWEEN THE UNITED STATES AND HONG KONG.
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