I
TUESDAY, SEPTEMBER 10, 1991
HE ALSO DESCRIBED THE MEMORANDUM OF UNDERSTANDING ON THE NEW AIRPORT PROJECTS WHICH WAS RECENTLY SIGNED IN PEKING AS "AN EXCELLENT AGREEMENT."
НЕ SAID THE AGREEMENT RECOGNISED THE NEED FOR EFFECTIVE ADMINISTRATION TO CONTINUE IN HONG KONG, WITH THE HONG KONG GOVERNMENT BEING RESPONSIBLE FOR THE CONSTRUCTION OF AIRPORT PROJECTS IN THE PERIOD UP TO 1997.
EQUALLY IMPORTANT, SIR DAVID SAID, WAS THAT IT PROVIDED A PRACTICAL FRAMEWORK WITHIN WHICH COMMITMENTS TO BE ENTERED INTO BY THE HONG KONG GOVERNMENT RELATED TO THE AIRPORT, AND WHICH IMPOSED THE FINANCIAL OR CONTRACTUAL OBLIGATIONS ON THE FUTURE GOVERNMENT OF SPECIAL ADMINISTRATIVE REGION OF HONG KONG, COULD BE DISCUSSED
DISCUSSED WITH TIME- THE CHINESE GOVERNMENT IN A POSITIVE WAY, AND WITHIN AN AGREED SCALE.
"WE HAVE ALWAYS RECOGNISED THAT IF WE WERE TO MAXIMISE PRIVATE SECTOR INVOLVEMENT IN THE AIRPORT PROJECT, POTENTIAL INVESTORS WOULD WISH TO BE ASSURED OF CHINESE SUPPORT FOR THE SCHEME."
HE POINTED OUT THAT THIS SUPPORT WAS CLEARLY STATED IN THE
MEMORANDUM OF UNDERSTANDING.
to
"IN PARTICULAR, THE CHINESE GOVERNMENT HAS UNDERTAKEN TO INDICATE CLEARLY TO INTERESTED POTENTIAL INVESTORS THAT OBLIGATIONS RELATED TO THE AIRPORT PROJECTS ENTERED INTO OR GUARANTEED BY THE HOND KONG GOVERNMENT WILL CONTINUE TO BE VALID, AND RECOGNISED AND PROTECTED BY THE HONG KONG SAR GOVERNMENT FROM THE FIRST JULY 1997," HE SAID.
SIR DAVID SAID THE CHINESE GOVERNMENT HAD ALSO ACCEPTED THAT THE THE BANK OF CHINA WOULD PLAY AN APPROPRIATE PART, FOR EXAMPLE, IN SYNDICATION OF LOANS FOR THE AIRPORT PROJECTS, AND THAT CHINESE
MAY COMPETE CONSTRUCTION FIRMS
WAY NORMAL CONNECTED WITH THE AIRPORT.
ARE US
IN THE
FOR PROJECTS
"I HAVE SAID THAT I BELIEVE THAT THIS IS A GOOD AGREEMENT. WE ENABLES CERTAINLY VERY COMFORTABLE WITH IT AND ARE CLEAR THAT IT TO MOVE AHEAD RAPIDLY WITH THE PLANNING AND CONSTRUCTION OF THESE HE PROJECTS WHICH ARE OF SUCH IMPORTANCE TO THE FUTURE OF HONG KONG," SAID.
DAVID SIR
HAD SAID HONG KONG, LIKE JAPÁN,
BEEN BOLD AND CHANGING AGGRESSIVE IN MEETING CHALLENGES AND HAD LONG EXPERIENCE OF THEM INTO SUCCESSFUL OPPORTUNITIES.
HE ADDED THAT JAPANESE COMPANIES HAD ALREADY DEMONSTRATED THEIR KONG CONFIDENCE IN HONG KONG'S FUTURE WITH MAJOR INVESTMENTS IN HONG TOTALLING NEARLY US$ 10 BILLION.
"I HAVE NO DOUBT THAT THEY WILL WISH TO BE PART OF THE ACTION' I HAVE DESCRIBED, AND WISH THEM ALL GOOD FORTUNE IN THAT," HE SAID.
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