TUESDAY, APRIL 28, 1987
8.
PLANS TO IMPROVE INDUSTRIAL INVESTMENT PROMOTION
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THE INDUSTRY DEVELOPMENT BOARD TODAY (TUESDAY) ENDORSED PLANS TO BOOST OVERSEAS INVESTMENT IN HONG KONG'S INDUSTRIAL SECTOR.
THE PLANS, DRAWN UP BY THE INDUSTRY DEPARTMENT, PROPOSE THE STRENGTHENING OF ITS EXISTING INDUSTRIAL INVESTMENT PROMOTION PROGRAMME IN FOUR BROAD AREAS:
* DEVELOPMENT OF AN IMPROVED TARGETTING SYSTEM FOR USE IN
IDENTIFYING POTENTIAL INVESTORS OVERSEAS 1
* PREPARATION OF MORE UP-TO-DATE AND BETTER RESEARCHED
PROMOTIONAL MATERIAL FOR USE IN DISCUSSIONS WITH POTENTIAL INVESTORS;
* AUGMENTATION OF STAFF RESOURCES IN OVERSEAS OFFICES; AND
* MEASURES TO FACILITATE THE TRANSFER OF TECHNOLOGY AND
KNOW-HOW FROM FOREIGN INVESTORS TO LOCAL MANUFACTURERS.
THE DEPARTMENT'S EXPERIENCE IN THE FIRST FOUR YEARS OF ITS INVESTMENT PROMOTION PROGRAMME, TOGETHER WITH THE INFORMATION FROM STUDIES BY THE HONG KONG PRODUCTIVITY COUNCIL AND INDEPENDENT CONSULTANTS, MAKE POSSIBLE AN INCREASINGLY SYSTEMATIC APPROACH TO THE IDENTIFICATION OF COMPANIES OVERSEAS WHICH ARE LIKELY BOTH TO PROSPER IN HONG KONG AND TO CONTRIBUTE TO DEVELOPMENT OF THE MANUFACTURING SECTOR.
AT THE SAME TIME, IF COMPANIES CAN BE BETTER IDENTIFIED, IT IS ALSO DESIRABLE TO PRESENT THE ADVANTAGES OF HONG KONG TO THEM MORE EFFECTIVELY; HENCE THE PROPOSAL FOR IMPROVED RESEARCH AND PRESENTATION OF PROMOTIONAL INFORMATION.
AS REGARDS OVERSEAS OFFICES, CURRENT INDICATIONS ARE THAT THE CONTINUING STRENGTH OF JAPANESE INTEREST IN HONG KONG AS A MANUFACTURING LOCATION MAKES IT DESIRABLE TO OPEN A SATELLITE OFFICE IN JAPAN, POSSIBLY IN THE KANSAI REGION WHERE THERE ARE MANY DYNAMIC, SMALL TO MEDIUM SIZE FIRMS.
GIVEN THE SIZE AND IMPORTANCE OF THE UNITED STATES AS A SOURCE OF OVERSEAS INVESTMENT, IT IS ALSO INTENDED TO EXPLORE NEW METHODS OF ACHIEVING BETTER COVERAGE THERE.
IN EUROPE AND THE UNITED KINGDOM, INVESTMENT INTEREST HAS BEEN PICKING UP AND THE AIM IS TO MONITOR THE SITUATION OVER THE NEXT 12 MONTHS TO DETERMINED WHETHER AN INCREASE IN STAFF OR FURTHER RATIONALISATION OF THE DIVISION OF RESPONSIBILITIES BETWEEN THE BRUSSELS AND LONDON OFFICES MIGHT BE APPROPRIATE.
/AS REGARDS