81
WEDNESDAY, NOVEMBER 8, 1989
JAPANESE
"HOWEVER, DESPITE HONG KONG'S UNCERTAINTIES. INVESTORS HAVE ALSO BEEN ATTRACTED BY ITS FREE AND DYNAMIC ECONOMY AND ITS MANY EXCITING OPPORTUNITIES.
"THE PARTNERSHIP OF JAPANESE INVESTMENT AND HONG KONG INDUSTRIES IS A CONCRETE EXAMPLE, HE SAID.
ti
QUOTING FINDINGS OF THE LATEST SURVEYS OF OVERSEAS INVESTMENT IN HONG KONG'S MANUFACTURING INDUSTRIES CONDUCTED BY THE INDUSTRY DEPARTMENT. MR LEUNG SAID JAPANESE MANUFACTURERS CHANNELLED 36.5 PER CENT MORE FUNDS IN 1988 TO ACQUISITIONS OF FIXED ASSETS IN HONG KONG THAN IN 1987.
"BY THE END OF 1988. JAPAN'S CUMULATIVE MANUFACTURING INVESTMENT IN HONG KONG STOOD AT US$893 MILLION, ACCOUNTING FOR ABOUT 27 PER CENT OF THE OVERALL TOTAL, UP FROM 21 PER CENT IN 1985.
"JAPAN IS NOW THE SECOND LARGEST OVERSEAS INVESTOR IN HONG KONG'S MANUFACTURING INDUSTRIES, AFTER THE UNITED STATES OF AMERICA. WHICH ACCOUNTS FOR 34 PER CENT. MR LEUNG SAID.
"
IHE NOTED THAT TWO SIGNIFICANT TRENDS HAD EVOLVED IN RECENT YEARS IN RESPECT OF JAPANESE MANUFACTURING INTERESTS IN HONG KONG.
ONE IS A DRAMATIC UPSURGE IN INVESTMENT IN THE ELECTRONICS INDUSTRY, REFLECTING JAPAN'S GROWING CONFIDENCE IN HONG KONG'S ABILITY TO MANUFACTURE TECHNOLOGY-INTENSIVE PRODUCTS OF HIGH QUALITY.
THE OTHER 15 THE INCREASING NUMBER OF JAPANESE FACTORIES INVOLVED IN THE LINKAGE INDUSTRIES.
π
'JAPANESE INVESTMENT IN THE LINKAGE INDUSTRIES BRINGS THE REQUIRED EXPERTISE TO HELP IMPROVE THEIR QUALITY AND OUTPUT. THEREBY ENHANCING THE COMPETITIVENESS OF THESE INDUSTRIES AND OTHERS SERVICED BY THEM. MR LEUNG SAID.
..
TURNING TO THE IMPACT OF RECENT EVENTS IN CHINA, MR LEUNG SAID HONG KONG'S MANUFACTURING OPERATIONS HAD EMERGED LARGELY UNSCATHED.
"WHILE SENTIMENTS HAVE NO DOUBT BECOME MORE CAUTIOUS, SOME SIGNIFICANT INVESTMENT DECISIONS TO INVEST IN HONG KONG WERE ANNOUNCED AFTER THESE EVENTS.
"ACCORDING TO NOMURA RESEARCH INTERNATIONAL. THE OUTLOOK FOR THE HONG KONG ECONOMY IS STILL FAR BETTER THAN IT WAS IN THE 1982-84 PERIOD BEFORE THE SINO-BRITISH JOINT DECLARATION WAS SIGNED. HE SAID.
ON MAJOR GOVERNMENT PLANS TO TAKE HONG KONG THROUGH 1997 INTO THE 21ST CENTURY. MR LEUNG STRESSED THAT THESE PLANS WERE SET AGAINST TWO CRUCIAL ROLES OF HONG KONG THAT HAD EMERGED AS A RESULT OF ITS INCREASING ECONOMIC IMPORTANCE IN THE WORLD.
FINANCE AND
ONE WAS AS A REGIONAL CENTRE FOR TRADE, COMMUNICATIONS WHILE THE OTHER AS A GATEWAY TO CHINA. HE SAID.
/"OVER THE