5
FRIDAY, FEBRUARY 5, 1988
THAT HOPED
THE GROWTH
THE
AND
AVAILABILITY
DEVELOPMENT
OF
OF VENTURE SMALLER IN AND THE
MR NENDICK SAID HE CAPITAL FUNDS WOULD FOSTER ENTERPRISES AND THUS HELP BROADEN THE TERRITORY'S INDUSTRIAL BASE,
THE
OF NEW TECHNOLOGIES USE ENCOURAGING BY PARTICULAR UPGRADING OF TECHNOLOGY USED IN EXISTING BUSINESSES.
EVOLUTION IS
IF
HONG
MANUFACTURING AN EVER
VITAL "SUCH AN
KONG'S INDUSTRIES ARE TO CONTINUE TO THRIVE IN WHAT MUST BE SEEN AS INCREASINGLY COMPETITIVE WORLD ENVIRONMENT,
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HE SAID.
STRENGTH
MR NENDICK SAID A TRADITIONAL MANUFACTURING INDUSTRIES HAD BEEN THEIR ABILITY TO CHANGING DEMANDS IN THE MARKET PLACE.
11
TEMPTATION,
OF HONG KONG'S REACT SWIFTLY TO
FOR HOWEVER,
COMPANIES TRUSTED TECHNOLOGY GOODS WHICH UP-MARKET
THEREFORE SUBSTANTIAL
A 'THERE MUST ALWAYS BE WHICH ARE STILL PROFITABLE TO STAY WITH TRIED AND
THE PRODUCTION OF RATHER THAN VENTURE INTO WOULD REQUIRE THE USE OF HIGHER TECHNOLOGY AND CAPITAL INVESTMENT, HE SAID.
"
CRUCIAL IT IS
THAT
HONG OFFSET THE IN LABOUR
KONG
"OVER THE LONG TERM, HOWEVER, IT MANUFACTURERS MOVE UP-MARKET IN THE GOODS THEY PRODUCE TO
TERRITORY'S COMPARATIVE STEADY BROSION OF THE COSTS," HE ADDED.
OF
HONG
MR NENDICK SAID THE PROVISION OF
THE ADVANCEMENT TECHNOLOGY-INTENSIVE PRODUCTS.
PROMOTE
ADVANTAGE
VENTURE CAPITAL KONG'S INDUSTRY
COULD INTO
HELP MORE
"THROUGH THEIR EQUITY PARTICIPATION IN SMALL
CAN FUNDS CAPITAL VENTURE ENTERPRISES, RELATIVELY HIGH RISK PRODUCTS IN THE KNOWLEDGE SUCCESSFUL, THEY WILL BE ABLE TO SHARE IN
AND
MEDIUM-SIZED
THE
PROVIDE THE FINANCE FOR THAT, IF THEY PROVE BY PROFITS GENERATED
THE INVESTMENT.
BY AVOIDING HAVING
HE SAID.
"AT THE SAME TIME THE ENTERPRISE BENEFITS TO SADDLE ITSELF WITH A HEAVY DEBT FINANCING BURDEN,
"
KONG HAD A FAVOURABLE MR NENDICK SAID HE BELIEVED THAT HỌNG ENVIRONMENT FOR VENTURE CAPITAL UNDERTAKINGS TO BE SUCCESSFUL.
"THERE ARE NO EXCHANGE CONTROLS AND THE
THE OF PROFITS MAKES FOREIGN INVESTORS.
PROVISION OF
VENTURE
EASE CAPITAL ATTRACTIVE
OF REPATRIATION
TO
CULTURE
THERE "LOCAL BUSINESS PAUCITY OF LOCAL INVESTORS IN VENTURE CAPITAL FUNDS ONCE
IS FULLY UNDERSTOOD. OUR LOW TAXATION IS AN ADDED GROWTH OF SUCH BUSINESS," HE SAID.
IS
SUCH
THAT
BE NO SHOULD
THE CONCEPT
INCENTIVE FOR THE
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