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WEDNESDAY, NOVEMBER 8, 1989
"THE PERFORMANCE OF THE ECONOMY IS, OF COURSE, THE FRAMEWORK WITHIN WHICH WE PLAN OUR PROGRAMMES OF EXPENDITURE, AND IT IS THEREFORE ESSENTIAL THAT WE MONITOR CAREFULLY ITS DEVELOPMENT, THE FINANCIAL SECRETARY SAID.
BE
HE NOTED A SUGGESTION THAT AN ECONOMIC DEVELOPMENT BOARD SHOULD ESTABLISHED TO OVERSEE AND ADVISE ON THE ENTIRE RANGE OF ECONOMIC ACTIVITIES IN HONG KONG.
"THIS IMAGINATIVE AND HELPFUL SUGGESTION TIES IN WELL WITH OUR INTENTION TO REVIEW THE STRUCTURE AND MEMBERSHIP OF THE ECONOMIC REVIEW COMMITTEE SO AS TO IMPROVE THE DIALOGUE BETWEEN THE ADMINISTRATION AND THE PRIVATE SECTOR," SIR PIERS SAID, ADDING THAT HE HOPED TO BE ABLE TO CONCLUDE THIS REVIEW SHORTLY.
TECHNOLOGY CENTRE WILL PLAY IMPORTANT ROLE
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THE GOVERNMENT'S
ROLE IN THE AREA OF INDUSTRIAL DEVELOPMENT CONTINUES TO BE ONE OF PROVIDING THE NECESSARY SUPPORT SERVICES TO MAINTAIN AN EFFICIENT MANUFACTURING SECTOR, THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SIR PIERS SAID THE GOVERNMENT'S DECISION TO ADD TO THE RANGE OF SUPPORT SERVICES THROUGH THE ESTABLISHMENT OF A TECHNOLOGY CENTRE WOULD PLAY A SIGNIFICANT ROLE IN DEVELOPING HONG KONG'S INDUSTRIAL CAPABILITY.
"THE CENTRE'S PROVISIONAL BOARD, TO BE ESTABLISHED NEXT YEAR, WILL NEED TO WORK CLOSELY WITH THE INDUSTRIAL, BUSINESS AND ACADEMIC COMMUNITIES.
"AS WITH OTHER PARTS OF OUR SUPPORTING INFRASTRUCTURE, THE TECHNOLOGY CENTRE WILL RESPOND TO THE DEMANDS OF INDUSTRY, RATHER THAN SEEK TO CHANNEL INDUSTRIAL DEVELOPMENT IN PREDETERMINED DIRECTIONS." HE SAID.
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THE FINANCIAL SECRETARY SAID WITH THE ESTABLISHMENT OF THE TECHNOLOGY CENTRE. THE GOVERNMENT'S ESSENTIAL PHILOSOPHY OF ALLOWING MARKET FORCES TO DETERMINE THE DIRECTION TAKEN BY INDUSTRY WOULD REMAIN UNCHANGED, BUT THAT A GAP IN THE INFRASTRUCTURE WOULD HAVE BEEN FILLED.
"THIS MARKET-LED APPROACH RECOGNISES THAT INDUSTRIALISTS AND BUSINESSMEN ARE BEST PLACED TO DECIDE UPON THE DIRECTION OF THEIR UNDERTAKINGS.
"GENERALLY, THIS MUST BE PREFERRED TO A GOVERNMENT-LED INDUSTRIAL STRATEGY, CERTAINLY IT IS THE WAY IN WHICH HONG KONG HAS PROSPERED, HE SAID.
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THE FINANCIAL
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