FRIDAY, APRIL 3, 1987
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YEN VALUE MAKES HK MORE ATTRACTIVE FOR JAPANESE INVESTORS
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THE RECENT DRAMATIC RISE IN VALUE OF THE YEN AGAINST THE U.S. DOLLAR HAS MADE HONG KONG, WHICH IS LINKED THE U.S. DOLLAR, PARTICULARLY ATTRACTIVE AS A MANUFACTURING CENTRE FOR THE JAPANESE, THE DIRECTOR OF INDUSTRY, MR K.Y. YEUNG, SAID TODAY (FRIDAY).
SPEAKING AT THE OPENING OF A NEW FACTORY COMPLEX OF THE JAPANESE NIPPON HUME CONCRETE (HK) LTD IN THE YUEN LONG INDUSTRIAL ESTATE, MR YEUNG SAID THE NUMBER OF JAPANESE COMPANIES COMING TO HONG KONG HAD INCREASED ACCORDINGLY.
TO ASSIST INVESTORS, PARTICULARLY THOSE FROM OVERSEAS, TO RESOLVE THE VARIOUS PROBLEMS THEY WERE LIKELY TO ENCOUNTER IN SETTING UP FACTORIES IN HONG KONG, MR YEUNG SAID A ONE-STOP UNIT
HAD BEEN SET UP UNDER THE INDUSTRIAL PROMOTION DIVISION OF THE INDUSTRY DEPARTMENT.
MR YEUNG SAID THAT A WIDE RANGE OF FACTORS NEEDED TO BE CONSIDERED BY AN INVESTOR SETTING UP A FACTORY HERE, AS IN ANY OTHER LOCATION. MANAGEMENT MUST ASSESS THE AVAILABILITY AND COST OF INDUSTRIAL LAND, LABOUR, FINANCIAL AND INDUSTRIAL SUPPORT FACILITIES, AS WELL AS THE IMPACT OF ENVIRONMENTAL PROTECTION, BUILDING AND SAFETY AND HEALTH LEGISLATION ON THE TYPE OF INDUSTRY IN WHICH THEY WERE INVOLVED.
+ALL THIS COULD INVOLVE A TIRESOME AND TIME-CONSUMING ROUND OF CONSULTATIONS WITH OFFICIALS FROM NUMEROUS GOVERNMENT DEPARTMENTS AND OTHER PUBLIC AND BUSINESS INSTITUTIONS, AND IT IS TO HELP INVESTORS SORT OUT ALL THEIR PROBLEMS THROUGH ONE FOCAL POINT THAT WE HAVE SET UP THE ONE-STOP UNIT.+
ALSO SPEAKING AT THE OPENING CEREMONY, THE CHAIRMAN OF THE CORPORATION, MR STEPHEN CHEONG, SAID THERE HAD BEEN A VERY STRONG INTEREST IN INVESTING IN HONG KONG AND A GENERAL REALISATION OF THE ATTRACTIONS OF THE YUEN LONG INDUSTRIAL ESTATE.
WHILE ONLY THREE SITES WITH A TOTAL AREA OF 2.4 HECTARES WERE GRANTED IN 1985-86, EIGHT GRANTEES SIGNED AGREEMENTS IN 1986-87 TO LEASE 6.6 HECTARES AND FOUR FURTHER APPLICATIONS WERE APPROVED FOR A TOTAL AREA OF 5.7 HECTARES WHICH WERE STILL UNDER NEGOTIATION.
MR CHEONG SAID BOTH EXTERNAL AND INTERNAL FACTORS HAD RAPIDLY INCREASED THE ESTATE'S POPULARITY.
+EXTERNALLY, CONTINUING DEVELOPMENT OF THE INFRASTRUCTURE HAS BROUGHT YUEN LONG CLOSER TO THE MAIN URBAN AREAS AND THE ESTATE IS NOW LESS THAN 40 MINUTES DRIVING TIME FROM THE KWAI CHUNG CONTAINER TERMINALS.
+WITH THE