9
MONDAY, JANUARY 11, 1988
HAD
THE MUTUAL TRADE, WHICH COVERED A BROAD RANGE OF PRODUCTS, A HEALTHY GROWTH OF 30 PER CENT IN 1986 OVER 1985 AND JUMPED BY A FURTHER 53 PER CENT IN THE FIRST NINE MONTHS OF LAST YEAR.
AS TO INDUSTRIAL INVESTMENT, MR JACOBS NOTED THAT HONG KONG HAD SEEN SIGNS OF INCREASING INTEREST FROM FRENCH MANUFACTURERS AND THE INDUSTRY DEPARTMENT WAS PAYING GREATER ATTENTION TO FRANCE IN ITS PROGRAMME OF ACTIVITIES FOR 1987-88.
THE
"THE ASSISTANT DIRECTOR RESPONSIBLE FOR INDUSTRIAL PROMOTION WAS IN FRANCE IN APRIL 1987 FOR TALKS WITH GOVERNMENT MINISTRIES, FEDERATION OF FRENCH INDUSTRIES AND LEADING BANKS, AND HE HAS RECENTLY RETURNED FROM ANOTHER VISIT. DURING WHICH HE MET WITH SEVERAL FIRMS WHO HAVE EXPRESSED SERIOUS INTEREST IN MANUFACTURING OPPORTUNITIES IN HONG KONG, THE FINANCIAL SECRETARY SAID.
M
"IN 1988, THE INDUSTRY DEPARTMENT AND THE FRENCH NATIONAL EMPLOYERS' FEDERATION PLAN TO IMPLEMENT A COOPERATION AGREEMENT WHICH THEY HAVE NEGOTIATED OVER THE PAST YEAR.
"INITIALLY, A FRENCH EXPERT WILL CARRY OUT RESEARCH, BOTH IN FRANCE AND HONG KONG, LOOKING AT OPPORTUNITIES FOR DIRECT INVESTMENT, JOINT VENTURES AND TECHNOLOGY TRANSFER IN MANUFACTURING. THE COSTS THIS MISSION WILL BE SHARED BY THE HONG KONG GOVERNMENT AND
FEDERATION.
OF
THE
"ALSO, IN MARCH, THE FEDERATION WILL HOLD A MAJOR SEMINAR IN PARIS ON THE THEME of INDUSTRIAL INVESTMENT OPPORTUNITIES IN HONG KONG. THE HONG KONG GOVERNMENT WILL BE SENDING SPEAKERS ΤΟ THIS IMPORTANT OCCASION."
WHILE NOTING THAT FRENCH ENGINEERING HAD A FIRST CLASS REPUTATION, MR JACOBS DREW ATTENTION TO THE GOVERNMENT'S INTENTION TO START 131 PROJECTS WITH A TOTAL WORTH OVER $6 BILLION IN THE NEXT FISCAL YEAR.
MAJOR PROJECTS WOULD INCLUDE PHASE V OF THE NEW TERRITORIES CIRCULAR ROAD IMPROVEMENTS SCHEME, THE YUEN LONG TUEN MUN EASTERN CORRIDOR, GOVERNMENT OFFICES BUILDING AT WAN CHAI, AND THE PAK KONG TREATMENT WORKS AND WATER TRANSFER FACILITIES STAGE II, HE SAID.
WHILE HONG KONG WELCOMED INVESTMENT IN ITS ECONOMY, MR JACOBS STRESSED THAT THE TERRITORY DID NOT OFFER ANY SPECIAL DEALS NOR DID IT DISCRIMINATE AGAINST OVERSEAS INVESTORS.
"WE ARE A COMPLETELY OPEN ECONOMY. OVERSEAS FIRMS COMPETE ON
AN EQUAL FOOTING WITH LOCAL COMPANIES.
..
HE CONCLUDED BY SAYING THAT HONG KONG PROVIDED THE IDEAL SETTING FOR BUSINESS BY HAVING A SOUND LEGAL, SOCIAL AND FINANCIAL FOUNDATION AND AN ENVIRONMENT WHICH WAS CONDUCIVE TO EFFICIENCY AND FLEXIBILITY.
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