5
WEDNESDAY, APRIL 18, 1990
AT THE SAME TIME,
MANUFACTURING
HE SAID, THE TERM "MANUFACTURING INDUSTRY" WAS EVOLVING TO ENCOMPASS MORE OP THE TECHNICAL SUPPORT ACTIVITIES SUCH AS PRODUCT DEVELOPMENT, ASSURANCE, TESTING AND OTHER SKILL-INTENSIVE BACK-UP SERVICES.
QUALITY
DIVERSIFY MORE
AND
'ACTUAL ASSEMBLY-TYPE PRODUCTION IS LIKELY ΤΟ INTO NEIGHBOURING REGIONS WITH LOWER COSTS, INCLUDING SOUTH CHINA SOUTHEAST ASIA.
"SO HONG KONG WILL CONTINUE TO DEVELOP INTO A REGIONAL FOR, RATHER THAN A CENTRE OF, MANUFACTURING, HE SAID.
MR LEUNG SAID ANOTHER LIKELY DEVELOPMENT WAS THAT MANUFACTURING SECTOR, ALTHOUGH PERHAPS LEANER, WOULD PROBABLY BE PRODUCTIVE THAN IT WAS TODAY.
CENTRE
THE
MORE
CONSUMER
"FACED WITH INCREASING COMPETITION AND HIGHER EXPECTATIONS, IT WILL NEED TO RETAIN ITS COMPETITIVENESS BY MOVING DECISIVELY INTO QUALITY AND INNOVATION INVOLVING HIGHER VALUE-ADDED PRODUCTS AND PROCESSES WHERE THE USE OF TECHNOLOGY IS EXPECTED BECOME EVEN MORE IMPORTANT,
TO
HE SAID.
HE SAID MANUFACTURERS WOULD ALSO BE ABLE TO TAKE HONG KONG'S EXCITING INFRASTRUCTURAL DEVELOPMENT PLANS: THE AIRPORT DEVELOPMENT STUDY (PADS) AND THE METROPLAN.
ADVANTAGE
PORT
OF
AND
HE SAID NEW INDUSTRIAL LAND WOULD BE CREATED IN TUEN MUN WEST AND NORTH LANTAU, AND FACTORIES IN THE OLD INDUSTRIAL AREAS OF TONG AND KWAI CHUNG WOULD BE REDEVELOPED.
KWUN
"NEW, CLEAN, HIGH-TECHNOLOGY INDUSTRIES WILL PROBABLY ON RECLAIMED LAND AROUND KAI TAK.
EMERGE
TO OPERATE FROM A ON LAND SET ASIDE FOR WATER-FRONT
"INDUSTRIES WITH SPECIAL NEEDS ARE LIKELY THIRD INDUSTRIAL ESTATE IN TSEUNG KWAN O OR WATER INTENSIVE INDUSTRIES AND OPERATIONS REQUIRING ACCESS, HE SAID.
"
AN EVEN MORE IMPORTANT NEW SECTORS, SUCH AS WELL EMERGE, MR LEUNG
ELECTRONICS WOULD PROBABLY BE INDUSTRIAL SECTOR THAN IT WAS TODAY AND OTHER CHEMICAL PROCESSING AND BIOTECHNOLOGY, MIGHT SAID.
FURTHERMORE, HE SAID, FAST GROWING DYNAMIC ECONOMIES AND POSSIBLY EASTERN EUROPE WOULD RENDER THE FIELD OF INWARD INVESTMENT PROMOTION EVEN MORE COMPETITIVE.
"BUT WITH INCREASING GLOBALISATION OF BUSINESSES, LARGE MULTI-NATIONALS ARE LIKELY ΤΟ REMAIN DIVERSIFIED TN THE WORLD'S ECONOMIC 'TRIPOD' - NORTH AMERICA, EUROPE, AND THE ASIA PACIFIC.
/"SO THE