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WEDNESDAY, APRIL 18, 1990
MOST
BUREAUCRACY
SIR DAVID SAID THE OVERALL AND LONG TERM STRATEGY FOR HONG KONG то WAS TO SEEK TO MAKE THE TERRITORY A PLACE WHERE PEOPLE WOULD WANT STAY BY
WERE MAINTAINING THOSE ASPECTS OF HONG KONG LIFE THAT
NOT
OF ONLY THE LOW TAX RATES AND ABSENCE ATTRACTIVE,
BUSINESSMEN WHICH ATTRACTED
AND KEPT OUR ECONOMY DYNAMIC AND IN EMPLOYMENT FULL, BUT ALSO BY FURTHER IMPROVING THE QUALITY OF LIFE HONG KONG IN TERMS, FOR EXAMPLE, A CLEANER ENVIRONMENT, BETTER HOUSING AND HIGHER STANDARDS OF SOCIAL SERVICES.
THE CHIEF SECRETARY SAID HONG KONG WAS THE NATURAL PORT AND COMMUNICATIONS HUB FOR SOUTHERN CHINA AND THE ADJACENT REGION: "BUT IN ORDER
MAINTAIN TO
AND ENHANCE THAT POSITION
WE
TO NEED
CONTINUE INVESTING IN INFRASTRUCTURE."
IT
CITY
TURNING TO THE PORT AND AIRPORT DEVELOPMENT, SIR DAVID SAID INCLUDED A COMPLETELY NEW STATE-OF-THE-ART AIRPORT AWAY FROM THE ON LANTAU ISLAND, CONNECTING TRANSPORTATION LINKS, INCLUDING WHAT MIGHT WELL BE THE LONGEST SUSPENSION BRIDGE IN THE WORLD, AND NEW CONTAINER PORT BERTHS.
HE SAID HONG KONG HAD A TRADITION OF INVOLVING THE PRIVATE SECTOR IN THE FINANCING, CONSTRUCTION AND OPERATION OF INFRASTRUCTURE. "THUS BOTH OF OUR CROSS-HARBOUR TUNNELS WERE PRIVATELY CONSTRUCTED AND ARE PRIVATELY OPERATED. ALL OF OUR PORT FACILITIES LIKEWISE.
TT
"AND WE WILL FOLLOW THE SAME TRIED AND TESTED PATTERN WITH OF THESE NEW PROJECTS, SIR DAVID SAID, ADDING THAT UP TO 60 PER CENT THE FUNDING FOR THE PORT AND AIRPORT PROJECTS WOULD COME FROM THE PRIVATE SECTOR.
"AND, TRUE TO OUR OPEN MARKET PRINCIPLES, FOREIGN FIRMS WILL BE FREE TO TAKE PART, SIR DAVID SAID.
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HE POINTED OUT THAT THESE WERE HUGE CAPITAL PROJECTS WHICH, TAKEN TOGETHER WERE WORTH ABOUT US$16 BILLION, OF WHICH THE AIRPORT ALONE WAS WORTH US$4.5 BILLION. "BUT WE WILL BE DEALING WITHIN THEM AS A NUMBER OF DISCRETE CONTRACTS, AND THE INCREMENTAL NATURE EXAMPLE THE
BE PORT FACILITIES, MEANS THAT EXPENDITURE WILL OVER ABOUT 15 YEARS."
OF, FOR SPREAD
"THE HIGHEST PRIORITY IS BEING GIVEN TO THE AIRPORT. EXHAUSTIVE RESEARCH TELLS US THAT OUR EXISTING AIRPORT AT KAI TAK, WHICH IS ALREADY CONGESTED, WILL BE SATURATED BY 1994.
"IF WE DID NOTHING AND THE AIRPORT REMAINED SATURATED BETWEEN 1996 AND 2010, THE ECONOMIC DISBENEFITS WOULD AMOUNT TO NEARLY US$13 BILLION. CLEARLY THE CASE TO BUILD IS A COMPELLING ONE, AND BUILD IT WE SHALL," SIR DAVID SAID.
THE CHIEF SECRETARY SAID THAT HONG KONG'S OPEN ECONOMY HAD ATTRACTED INTEREST FROM ALL AROUND THE WORLD, AND THIS INTEREST GIVEN IT GREATER BREADTH, EXPERTISE AND STRENGTH.
HAD
/"OUR LINKS