TUESDAY, OCTOBER 16, 1990
"FIFTHLY, HONG KONG HAS PROVED EMERGING STRONGER THAN BEFORE POLITICAL UPHEAVALS IN CHINA, HE
THROUGH SAID.
TO BE HIGHLY RESILIENT, PREVIOUS
RECESSIONS AND
A HIGH RATE OF ECONOMIC THE AVERAGE OVER THE
MR WONG SAID HONG KONG HAD ENJOYED GROWTH DURING THE LAST 20 YEARS AND, INDEED, PAST FOUR YEARS WAS AS HIGH AS NINE PER CENT.
HE SAID THAT AS WITH OTHER ECONOMIES, HONG KONG WAS NOW EXPERIENCING A SLOWDOWN IN GROWTH AND WAS ALSO FACING A VERY TIGHT LABOUR MARKET.
"BUT BOTH LOCAL AND OVERSEAS INVESTORS ARE CONFIDENT OF THE BRIGHT PROSPECTS FOR DOING PROFITABLE BUSINESS IN HONG KONG.
AND
"APART FROM ITS UNIQUE GEOGRAPHICAL LOCATION AS A HUB FOR DOING BUSINESS IN ASIA PACIFIC WITH A SOUND ECONOMIC FOUNDATION EXCELLENT BUSINESS INFRASTRUCTURE, HONG KONG'S FREE TRADE AND ENTERPRISE POLICY, ITS HARD-WORKING AND EFFICIENT LABOUR FORCE, TAXATION RATE AND EXCELLENT COMMUNICATIONS NETWORK HAVE LONG BEEN RECOGNISED AS FAVOURABLE FACTORS, HE SAID.
"
FREE LOW
MR WONG SAID PAST EXPERIENCES HAD SHOWN THAT THE ECONOMY OF HONG KONG WAS EXTREMELY RESILIENT.
"WHENEVER THERE WAS A GLOBAL ECONOMIC SLOWDOWN, THE ECONOMY OF HONG KONG WAS ONE OF THE FIRST TO BOUNCE BACK QUICKLY WITH ENHANCED VIGOR.
F
HE SAID HONG KONG'S FUTURE WAS NOT WITHOUT UNCERTAINTIES. NEIHTER DOES IT LACK EXCITING OPPORTUNITIES."
"BUT
"THE LARGE NUMBER OF OVERSEAS COMPANIES IN HONG KONG, AND THE CONTINUOUS INFLOW OF TECHNOLOGY AND INVESTMENT, SHOWS CLEARLY THAT HONG KONG IS A PLACE WHERE YOU CAN FIND OPPORTUNITIES AND CHALLENGE FOR COMMERCIAL AND INDUSTRIAL ACTIVITIES," HE SAID.
TURNING TO JAPANESE INVESTMENT IN HONG KONG, MR WONG SAID THAT UP TO THE END OF JAPAN'S FISCAL YEAR,1988 (APRIL то MARCH), JAPAN'S CUMULATIVE OVERALL INVESTMENT IN HONG KONG AMOUNTED то US$6.17 BILLION.
"WE ARE THE SECOND MOST FAVOURED INVESTMENT DESTINATION INDONESIA) IN ASIA FOR JAPANESE FIRMS.
(AFTER
"MOREOVER, IN THE FISCAL YEAR 1988 ALONE, HONG KONG GAINED LARGEST SHARE OF JAPANESE INVESTMENT IN ASIA, ALMOST DOUBLED THAT THE COUNTRY IN THE SECOND POSITION.
THE FOR
"THIS REPRESENTED AN INCREASE OF 37 PER CENT OVER FISCAL YEAR 1987, COMPARED WITH AN AVERAGE OF 21 PER CENT FOR THE WHOLE OF
ASIA," HE SAID.
/AS FOR