32
WEDNESDAY, NOVEMBER 11, 1987
MUCH BEING DONE TO BOOST PRODUCTIVITY
MUCH IS BEING DONE IN THE FIELDS OF TRADE AND INDUSTRY, AND THE GOVERNMENT FULLY INTENDS TO CONTINUE TO DO WHATEVER IS NECESSARY TO MAINTAIN THEIR PRESENT HEALTHY STATE, AND TO FURTHER IMPROVE INDUSTRY'S PRODUCTIVITY AND THE QUALITY AND TECHNOLOGICAL LEVEL OF ITS PRODUCTS, THE SECRETARY FOR TRADE AND INDUSTRY, THE HON HAMISH MACLEOD, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SPEAKING IN THE RESUMED DEBATE ON THE GOVERNOR'S ADDRESS, MR MACLROD SAID IN RELATION TO INDUSTRY, THE GOVERNMENT WOULD CONTINUE TO TAKE "A MODEST AND PRAGMATIC APPROACH", PRAGMATIC ENOUGH ΤΟ RESEARCH SYSTEMATICALLY TO IDENTIFY GAPS AND WEAK SPOTS, AND TO TAKE ACTION WHERE SOME INTERVENTION OR ASSISTANCE BY GOVENMENT WAS REQUIRED.
THE PROGRAMME
HE SAID THAT THE GOVERNMENT HAD CONTINUED WITH OF IDENTIFYING AREAS WHERE NEW INITIATIVES WERE NEEDED AND THAT THE TIME HAD COME TO LOOK AT THE MORE AMBITIOUS POSSIBILITY OF ESTABLISHING A TECHNOLOGY CENTRE OR SCIENCE PARK.
"ACCORDINGLY, THE INDUSTRY DEVELOPMENT BOARD WILL LATER THIS MONTH BE HAVING INITIAL DISCUSSIONS ON BOTH THIS POSSIBILITY AND THE CONCEIVABLY RELATED QUESTION OF A THIRD INDUSTRIAL ESTATE," HE SAID.
MR MACLEOD SAID HE DID NOT' AGREE THAT OVER THE YEARS THE GOVERNMENT HAD DONE VERY LITTLE IN TERMS OF PROVIDING INDUSTRIAL SUPPORT SERVICES.
ON THE TRADE FRONT, MR MACLEOD SAID HONG KONG MUST CONTINUE TO DO ALL IT COULD TO COUNTER THE THREAT OF PROTECTIONISM AND ΤΟ SAFEGUARD ITS TRADING INTERESTS.
HE MENTIONED TWO ENCOURAGING TRENDS. THE FIRST WAS RECENTLY THERE WERE SIGNS THAT HONG KONG'S OVER-DEPENDENCE ON UNITED STATES MARKET WAS BEING REDUCED SOMEWHAT.
THAT
THE
HAS
OF
1986,
"THE PROPORTION OF OUR DOMESTIC EXPORTS GOING TO THE USA DECLINED FROM 44 PER CENT IN 1985 TO 38 PER CENT IN THE FIRST HALF 1987. AND DOMESTIC EXPORTS TO JAPAN INCREASED BY 39 PER CENT IN AND BY 71 PER CENT IN THE FIRST HALF OF 1987," HE SAID.
THE SECOND DEVELOPMENT RELATED TO RECENT EVENTS IN WORLD STOCK MARKETS WHICH HAD BROUGHT HOME TO U.S. LEGISLATORS AND OTHERS THE INTERDEPENDENCE OF THE MAJOR TRADING AND FINANCIAL MARKETS, AND THE DANGER WHICH PROTECTIONIST LEGISLATION WOULD POSE ΤΟ ALL TRADING ECONOMIES.
"THIS HOPEFULLY WILL MODIFY SOMEWHAT IN THE U.S.," HE SAID.
PROTECTIONIST
TENDENCIES
/HOWEVER, MR ...................