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WEDNESDAY, MARCH 4, 1987
POINTING TO THE 800 JAPANESE BUSINESSES THAT HAVE BEEN SET UP IN THE TERRITORY, HE SAID THEIR PRESENCE LENT CREDENCE TO HIS ASSESSMENT. THESE BUSINESSES COVERED EVERY BRANCH OF THE ECONOMY FROM BANKING AND RETAILING TO CONSTRUCTION AND MANUFACTURING.
ACCORDING TO JAPAN'S MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY (MITI), HONG KONG HAD RECEIVED 15 PER CENT OF ALL JAPANESE INVESTMENTS IN ASIA, MORE THAN IN ANY ASIAN COUNTRY EXCEPT INDONESIA, AND MORE THAN IN ANY EUROPEAN COUNTRY EXCEPT THE UNITED KINGDOM.
+IN FACT ONLY SIX COUNTRIES IN THE WORLD HAVE RECEIVED MORE JAPANESE INVESTMENT THAN HONG KONG,+ HE SAID.
WHILE MUCH OF THIS INVESTMENT IS IN THE FINANCIAL SECTOR, A SURVEY JUST PUBLISHED BY THE INDUSTRY DEPARTMENT SHOWED THAT IN MARCH 1986, JAPAN WAS HONG KONG'S SECOND LARGEST SOURCE OF OVERSEAS MANUFACTURING INVESTMENT WITH ABOUT 20 PER CENT OF THE TOTAL.
BETWEEN SEPTEMBER 1984 AND MARCH 1986 THE AMOUNT INVESTED BY JAPANESE MANUFACTURERS INCREASED BY 35 PER CENT, TO REACH V.S. $420 MILLION. DURING THE 12 MONTHS SINCE THE SURVEY, SOME SUBSTANTIAL NEW JAPANESE PROJECTS HAD COME ON STREAM, AND THE DEPARTMENT KNEW OF MORE THAN A DOZEN PROJECTS WHERE JAPANESE FIRMS WERE IN THE PROCESS OF SETTING UP HONG KONG FACTORIES AT THE MOMENT.
MR EASON SAID HONG KONG WELCOMED JAPANESE FIRMS COMING IN TO THE MANUFACTURING SECTOR BECAUSE THEY BROUGHT VALUABLE SKILLS AND A CONCEPT OF QUALITY CONSCIOUSNESS TO THE LOCAL INDUSTRY.
+1 MAY ADD ONE OTHER ADVANTAGE AS MORE JAPANESE GOODS ARE PRODUCED IN HONG KONG FOR EXPORT BACK TO JAPAN, THE DOUBTS AMONG JAPANESE CONSUMERS ABOUT THE QUALITY OF HONG KONG-MADE PRODUCTS SHOULD GRADUALLY DIMINISH, + HE SAID.
MR EASON SAID THAT WHILE HONG KONG WELCOMED ALL INTEREST IN ITS INDUSTRY, IT PARTICULARLY VALUED MANUFACTURING INVESTMENT WHICH INVOLVED NEW PRODUCTION TECHNOLOGY, NEW PRODUCTS, AND MANAGEMENT STYLES DEDICATED TO ENSURING HIGH STANDARDS OF QUALITY.
+ BY ATTRACTING SUCH INVESTMENTS WE CAN HELP TO BROADEN THE RANGE OF HONG KONG PRODUCED GOODS, UPGRADE OUR TECHNOLOGY LEVELS, AND STIMULATE OUR LOCAL MANUFACTURERS TO UPGRADE THEIR OWN OPERATIONS,+ HE SAID.
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