23
WEDNESDAY, OCTOBER 25, 1989
"THE NEC CORPORATION, FOR EXAMPLE, WILL INVEST MILLION TO SET UP A MANUFACTURING AND SERVICING COMPANY IN FOR THEIR PERSONAL COMPUTERS, DISK DRIVES AND PRINTERS, DAIDO CONCRETE COMPANY WILL PUT IN MORE THAN US$10 MILLION ITS PRODUCTION FACILITIES IN ONE OF OUR INDUSTRIAL ESTATES.
OVER US$4 HONG KONG WHILE THE TO EXPAND
US$21
"OTHER MAJOR INVESTMENTS INCLUDE A US$15 MILLION SEMICONDUCTOR ASSEMBLY HOUSE WITH EUROPEAN AND SINGAPOREAN INTERESTS AND A MILLION JOINT VENTURE INVOLVING THE BRITISH ICI GROUP, HE SAID.
申
MR CHAN SAID IN ADDITION TO THESE MAJOR PRIVATE INVESTMENT PROJECTS, THE HONG KONG GOVERNMENT WAS ALSO INVESTING HEAVILY IN THE TERRITORY'S FUTURE, THROUGH THE CONTINUOUS IMPROVEMENT OF HONG KONG'S INFRASTRUCTURE TO MEET OUR FUTURE NEEDS.
"ONLY TWO WEEKS AGO, OUR GOVERNOR ANNOUNCED OUR FIRM DECISION TO REPLACE OUR OVER-CROWDED KAI TAK AIRPORT WITH A NEW INTERNATIONAL AIRPORT AT CHEK LAP KOK ON LANTAU ISLAND.
STRATEGY FOR A MASSIVE
"THIS IS PART OF A COMPREHENSIVE EXPANSION OF OUR PORT AND AIRPORT FACILITIES TO COPE WITH OUR RAPIDLY GROWING ROLE AS ENTREPOT AND REGIONAL HUB.
THE
"THE TOTAL INVESTMENT, WHICH WE HOPE WILL COME PARTLY FROM PRIVATE SECTOR AS WELL AS FROM THE GOVERNMENT, IS ESTIMATED TO BE OF THE ORDER OF US$16 BILLION. AND IT WILL HAVE A PAY-BACK PERIOD EXTENDING WELL BEYOND 1997, HE SAID.
TURNING TO HONG KONG'S ECONOMIC FUTURE, MR CHAN SAID HONG KONG, WITH ITS STRATEGIC LOCATION, HIGHLY EFFICIENT INFRASTRUCTURE AND SOPHISTICATED COMMUNICATIONS NETWORK, WAS AN IMPORTANT TRADING, FINANCIAL AND SERVICES CENTRE AT THE HUB OF THE INCREASINGLY PROSPEROUS ASIA-PACIFIC REGION.
HE JAID HONG KONG'S TRADE WITH THE ASIA-PACIFIC REGION INCREASED BY OVER 30 PER CENT A YEAR IN THE LAST TWO YEARS, AND ACCOUNTED FOR 78 PER CENT OF HONG KONG'S TOTAL EXTERNAL TRADE IN 1988.
MR CHAN SAID HONG KONG'S TRADE WITH ASIA ALONE NOW ACCOUNTED FOR SOME 60 PER CENT OF HONG KONG'S GLOBAL TRADE, REFLECTING THE TERRITORY'S SUCCESS IN DEVELOPING NEW MARKETS AND REDUCING ITS TRADITIONAL DEPENDENCE ON MARKETS IN NORTH AMERICA AND WESTERN EUROPE.
"BUT HONG KONG IS, AND WILL REMAIN, A WORLD TRADER WHO OPERATES AND THINKS IN GLOBAL TERMS.
"OUR GOVERNMENT IS FIRMLY COMMITTED TO THE FREE TRADE POLICY AND THE MULTILATERAL TRADING SYSTEM EMBODIED IN THE GATT. THIS COMMITMENT WILL REMAIN LONG INTO THE FUTURE.
"AS OUR PAST DEVELOPMENT SHOWS, GLOBAL FREE POSSIBLE FOUNDATION ON WHICH TO BUILD OUR ECONOMIC
TRADE IS THE BEST PROGRESS HE SAID.
I
4+
/CONCLUDING HIS