THURSDAY, MARCH 29, 1990
"IT IS A PICTURE WHICH IS ALREADY ATTRACTING INCREASING NUMBERS OF FOREIGN BUSINESSMEN, BANKERS, AND AN ASSORTMENT OF PROFESSIONALS ENGAGED IN THE FINANCIAL SECTOR, FOR WHERE TRADERS GATHER, MARKETS ARE MADE," HE SAID.
"WE OPERATE A LEVEL
PLAYING FIELD FOR ALL OUR INVESTORS, WHEREVER THEY COME FROM, HE SAID, ADDING THAT DEALS WERE MADE THOSE WHO CAME WITH THE BEST OFFERS.
WITH
IN HIS SPEECH ON OPPORTUNITIES IN HONG KONG IN THE NEW DECADE, SIR PIERS SAID THAT IN MAKING THE MOST OF SUCH OPPORTUNITIES, BUSINESS ATTITUDE WOULD BE OF ENORMOUS IMPORTANCE.
"WE LIKE PEOPLE TO COME TO HONG KONG AND SELL US THINGS AND MAKE MONEY, BUT WHAT IS ATTRACTIVE TO PEOPLE IN HONG KONG IS INVESTMENT IN THE TERRITORY THAT IN SOME WAYS BECOMES WOVEN INTO THE FABRIC OF HONG KONG.
INVEST IN HONG KONG TO MAKE MONEY BY ALL MEANS, BUT IF YOU CAN, GIVE SOMETHING OF YOURSELF TO THE PLACE. INVESTMENT, OF COURSE, CAN BE OF CAPITAL OR JUST STRAIGHT-FORWARD PERSONAL COMMITMENT," HE SAID.
"IF THERE IS THE RIGHT DEGREE OF COMMITMENT I HAVE NO DOUBT THAT THE VENTURE WILL BE ALL THE MORE PROFITABLE IN ANY EVENT.
"IN ENCOURAGING OVERSEAS INVESTMENT WE ARE CERTAINLY NOT SEEKING A FREE LUNCH, BUT WE TEND TO FEEL MORE COMFORTABLE WITH PEOPLE WHO ARE CLEARLY WITH US FOR THE LONG TERM, SIR PIERS SAID.
TT
HE NOTED THAT MANY OF HONG KONG'S OVERSEAS INVESTORS
BECOME READILY IDENTIFIED WITH HONG KONG.
DID
"INDEED, SOME OF THE OLDER BRITISH INVESTORS IN HONG KONG BECOME SO IDENTIFIED WITH THE PLACE THAT WE NO LONGER THINK OF AS BRITISH!" HE SAID.
HAVE
THEM
HE POINTED OUT THAT OVER THE YEARS, HONG KONG HAD CONSIDERABLE BRITISH FINANCIAL INVOLVEMENT IN HONG KONG,
SEEN
"FOR EXAMPLE, IN THE 1980'S NEW INVESTMENT FROM THE UNITED KINGDOM AVERAGED SOME 170 MILLION POUNDS STERLING A YEAR.
"FURTHERMORE, ALTHOUGH THE VISIBLE TRADE BALANCE IS IN HONG KONG'S FAVOUR (BY SOME 700 MILLION POUNDS STERLING, INCLUDING RE-EXPORTS, IN 1988), HONG KONG HAS PROVIDED A LARGE SOURCE OF INVISIBLE EARNINGS FOR THE UNITED KINGDOM ESTIMATED AT ABOUT 1 BILLION POUNDS STERLING A YEAR," HE SAID.
SIR PIERS POINTED OUT THAT IN THE CONTEXT OF INVOLVEMENT IN HONG KONG, THE VERY SIGNIFICANT CONTRIBUTION BRITISH MANAGERS SHOULD CERTAINLY NOT BE FORGOTTEN.
BRITISH MADE
BY
/"THE BRITISH