MONDAY, MARCH 16, 1987
SIR DAVID SAID HE WAS CONFIDENT THAT WITHIN THE NEXT TWO OR THREE YEARS, ALL THE AVAILABLE LAND AT TAI PO WOULD HAVE BEEN DISPOSED OF AND THAT YUEN LONG WOULD BE ALREADY WELL-DEVELOPED.
HE ADDED THAT THE SUCCESS OF THE CORPORATION SHOULD NOT BE MEASURED WHOLLY IN FINANCIAL TERMS.
+THE CORPORATION THROUGH ITS SELECTION CRITERIA PROVIDES SITES FOR FACTORIES WHICH INTRODUCE TO HONG KONG NEW OR IMPROVED PRODUCTS AND PROCESSES AND IS THEREFORE INSTRUMENTAL IN ATTRACTING NEW AND IMPROVED TECHNOLOGY FROM ABROAD.
+ IN ADDITION, THE INDUSTRIAL ESTATES ALSO PROVIDE JOB OPPORTUNITIES FOR RESIDENTS OF THE NEW TOWNS AND HENCE TOWARDS A MORE BALANCED MIX OF DEVELOPMENT IN THE NEW TOWNS.
ALSO SPEAKING AT THE RECEPTION WAS THE CHAIRMAN OF THE CORPORATION, MR STEPHEN CHEONG.
HE SAID THE CORPORATION AND THE GOVERNMENT WOULD HAVE TO CONSIDER IN THE NOT TOO DISTANT FUTURE WHETHER OR NOT A THIRD INDUSTRIAL ESTATE HAD TO BE BUILT.
+ THE MOMENT FOR DECISION MAY WELL BE REACHED WHEN THE WHOLE OF THE TAI PO INDUSTRIAL ESTATE AND HALF OF THE YUEN LONG INDUSTRIAL ESTATE HAVE BEEN FILLED UP.+
HE ADDED THAT SALES HAVE BEEN PICKING UP RAPIDLY OVER THE PAST TWO YEARS, WITH ONLY 16 HECTARES LEFT AT TAI PO AND 54 HECTARES REMAINING AT YUEN LONG.
AS REGARDS THE ESTATES CONSTRUCTION PROGRAMME, MR CHEONG SA ID THE YUEN LONG ESTATE WAS COMPLETE AND WORK ON THE FINAL STAGE 3 AT TAI PO WAS EXPECTED TO BE FINISHED WITHIN THE NEXT THREE MONTHS, BRINGING TO AN END ALL PLANNED CAPITAL WORKS.
+ THE CORPORATION HAS SPENT NO LESS THAN $980 MILLION ON THIS FORMIDABLE AMOUNT OF WORK AND HAS ALREADY RECOVERED OVER $400 MILLION FROM THE DISPOSAL OF LAND.
+ HAVE NO DOUBT WHATSOEVER THAT IN DUE COURSE THE FULL COSTS WILL BE RECOVERED AND THE OUTSTANDING LOANS FROM THE GOVERNMENT'S DEVELOPMENT LOAN FUND WILL BE FULLY REPAID, HE SAID,
MR CHEONG SAID HE ALSO BELIEVED THAT THE CORPORATION HAD ACHIEVED ITS OBJECTIVES OF BROADENING AND ENHANCING THE BASE OF HONG KONG'S INDUSTRIES OVER THE PAST TEN YEARS.
HE SAID THE INDUSTRIAL ESTATES HAD WELL AND TRULY BECOME AN IMPORTANT MEDIUM BY WHICH HONG KONG ATTRACTED USEFUL TECHNOLOGIES.
+THE INDUSTRIAL