THURSDAY, MARCH 19, 1987
18
HK'S ECONOMIC PROBLEMS OUTLINED *****
PROTECTIONIST PRESSURE COMPOUNDED WITH A WEAK TECHNOLOGY BASE IS THE REAL PROBLEM THE GOVERNMENT SHOULD TACKLE IF HONG KONG IS TO MAINTAIN ITS ECONOMIC PERFORMANCE IN THE 1990'S, THE HON ALLEN LEE SAID IN THE LEGISLATIVE COUNCIL TODAY (THURSDAY).
SPEAKING DURING THE DEBATE ON THE APPROPRIATION BILL 1987 MR LEE POINTED OUT THAT THE MANUFACTURING INDUSTRY WAS THE MOST IMPORTANT SECTOR OF THE ECONOMY.
HE NOTED THAT PROTECTIONIST SENTIMENT WAS GROWING IN HONG KONG'S LARGEST MARKET, THE UNITED STATES, AND HONG KONG WAS CAUGHT IN THE NET EVEN THOUGH FREE TRADE WAS ADVOCATED AND PRACTISED HERE.
+MANY OF OUR INDUSTRIES ARE PREDOMINANTLY VALUE-ADDED ASSEMBLY-TYPE INDUSTRIES LACKING A STRONG TECHNOLOGY BASE WHICH, IN THE LONG RUN, WILL LOSE THEIR COMPETITIVE EDGE DUE TO INCREASING COSTS, HE SAID.
AGREEING THAT DIVERSIFICATION, ATTRACTING FOREIGN INVESTMENT AND TECHNOLOGY TRANSFER WERE ALL IMPORTANT ISSUES. MR LEE SAID HE HOPED THAT THE INDUSTRY DEVELOPMENT BOARD, COULD COME UP WITH SOME POSITIVE PROPOSALS AND SOLUTIONS.
HE ALSO DREW ATTENTION TO HONG KONG'S MARKETS AND POTENTIAL MARKETS.
REFERRING IN PARTICULAR TO JAPAN, HE SUGGESTED HONG KONG'S INDUSTRIALISTS SHOULD LEARN THE +THREE P'S+ OF THE JAPANESE BUSINESS PHILOSOPHY - PATIENCE, PERSISTENCE AND PERSONAL RELATIONSHIP.
+WE MUST ALSO ADHERE TO THE JAPANESE STRICT REQUIREMENTS ON QUALITY AND DESIGN,+ HE ADDED.
MR LEE SAID HE BELIEVED THAT THE DIFFICULTY LAY IN THE FORMULATION OF A SOUND MARKETING STRATEGY AND POINTED OUT THAT GOVERNMENT SUPPORT IN THIS AREA WAS NECESSARY.
TURNING TO EDUCATION, MR LEE STRESSED THAT INVESTMENT IN EDUCATION WAS AN INVESTMENT IN THE FUTURE.
HE RECALLED THAT HE HAD SPOKEN MANY TIMES BEFORE ON THE IMPORTANCE OF ENHANCING THE REPUTATION OF TERTIARY EDUCATION INSTITUTIONS IN HONG KONG AND ON HOW TO STRENTHEN RESEARCH AND DEVELOPMENT IN THESE INSTITUTIONS.
HE REITERATED THAT THE GOVERNMENT SHOULD RECOGNISE THE WEAKNESS IN THE TERTIARY EDUCATION INSTITUTIONS AND POINTED OUT THAT THE INVESTMENT MUST BE MADE.
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/+IT IS
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