TUESDAY, APRIL 3, 1990
2
DIRECTION OF INDUSTRIAL DEVELOPMENT NOT AFFECTED BY 1997
THE DIRECTION OF INDUSTRIAL DEVELOPMENT IN HONG KONG WILL BE SIGNIFICANTLY AFFECTED BY 1997, THE DIRECTOR OF INDUSTRY, MR BARMA, SAID TODAY (TUESDAY).
NOT
T.H.
THE
HE SAID HONG KONG'S OVERSEAS INVESTORS, PARTICULARLY
THE TERRITORY FOR JAPANESE, WERE TAKING A LONG-TERM VIEW AND VALUED ITS ACCESS TO THE CHINA MARKET.
SPEAKING AT A LUNCH MEETING OF THE ROTARY CLUB OF HONG KONG, MR BARMA SAID LOCAL MANUFACTURERS HAD ALREADY DEMONSTRATED THEIR ABILITY TO IGNORE THE BORDER WITH CHINA, AND HAD SHOWN THAT THEY COULD OPERATE OUT OF GUANGDONG PROVINCE AND STILL MAKE HANDSOME PROFITS.
"THE SYNERGY OF HONG KONG AND THE PEARL RIVER DELTA REGION 19 A FACT ALREADY, AND 1997 WILL MAKE NO DIFFERENCE TO IT,
HE SAID.
HE BELIEVED THAT THE 1990S WOULD BE YEARS OF
OPPORTUNITY FOR
HONG KONG'S MANUFACTURING INDUSTRIES.
MR BARMA EXPECTED ALL THE TRADITIONAL MANUFACTURING
TO BE FLOURISHING 10 YEARS FROM NOW.
INDUSTRIES
WELL
"ELECTRONICS WILL PROBABLY BE AN EVEN MORE IMPORTANT INDUSTRY THAN IT IS NOW. NEW INDUSTRY SECTORS, SUCH AS BIOTECHNOLOGY, MAY EMERGE.
FOR AND
"OUR 'SWEATSHOP' IMAGE, ALWAYS EXAGGERATED, WILL HAVE GONE EVER. OUR FACTORIES WILL BE CLEAN, SAFETY STANDARDS WILL BE HIGH, OUR PRODUCTS WILL HAVE ESTABLISHED
AN
INTERNATIONAL REPUTATION FOR QUALITY.
"I
MR BARMA HOWEVER CAUTIONED THAT HONG KONG HAD ALWAYS BEEN VULNERABLE TO EVENTS OUTSIDE ITS CONTROL.
D
THERE WILL NO DOUBT BE SURPRISES IN STORE, BUT STRUCTURE OF THE MANUFACTURING SECTOR ENABLES US ΤΟ ENVIABLE SPEED TO CHANGING CONDITIONS, HE SAID.
17
THE FLEXIBLE RESPOND WITH
MR BARMA SAID CHINA'S TRADE WITH THE REST OF THE WORLD WOULD PROBABLY CONTINUE TO EXPAND, AND HONG KONG'S SERVICE SECTOR WOULD CONTINUE TO FLOURISH AS A RESULT.
THEREFORE "HONG KONG'S MANUFACTURERS COMPETITION FROM THE SERVICE SECTOR FOR MANPOWER.
WILL
TO CONTINUE
FACE
BUT I WOULD
"THE PRESENT SLOW DRIFT OF EMPLOYMENT FROM MANUFACTURING INTO SERVICES WILL THEREFORE PROBABLY CONTINUE,
EXPECT THE MANUFACTURING SECTOR IN THE 1990S TO ATTRACT ITS FAIR SHARE OF YOUNG PEOPLE AND TO REMAIN BOTH A MAJOR EMPLOYER AND MAJOR CONTRIBUTOR TO THE ECONOMY, HE SAID.
++
/MR BARMA