TUESDAY, NOVEMBER 19, 1991
HK AND SINGAPORE EXAMPLES OF FREE MARKET ECONOMY WORKING: GOVERNOR
THE GOVERNOR, SIR DAVID WILSON, TODAY (TUESDAY) DESCRIBED SINGAPORE AND HONG KONG AS THE "TWO GREATEST EXAMPLES IN THE WORLD A FREE MARKET ECONOMY ACTUALLY WORKING".
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SPEAKING TO SENIOR SINGAPORE JOURNALISTS, HE SAID IT WAS ALSO THE GREATEST EXAMPLE OF THE BEST WAY TO RUN AN ECONOMY.
"WHAT IS INTERESTING IS TO SEE HOW OTHER PEOPLE ARE BEGINNING TO LEARN THE LESSONS AND, I HOPE, GRADUALLY WILL LEARN PART OF THAT LESSON WHICH IS THAT TRADE BARRIERS DON'T ACTUALLY HELP ANYBODY.
SIR DAVID SAID THAT HONG KONG AND SINGAPORE HAD VERY CLOSE RELATIONS SIMILAR ECONOMIES, CIVIL SERVICE AND JUDICIAL PRACTICES, AND IN INTERNATIONAL TRADE NEGOTIATIONS WERE ALWAYS ON THE SAME SIDE.
HE DESCRIBED THE RELATIONS AS FRIENDLY AND NEIGHBOURLY, BUT ALSO AS "FRIENDLY RIVALS" BECAUSE IN SO MANY THINGS THE TWO PLACES WERE RIVALS.
SIR DAVID SAID THAT IN THE PAST TWO YEARS, HE HAD BEEN STRUCK BY THE WAY THE SINGAPORE GOVERNMENT HAD PAID INCREASINGLY CLOSE ATTENTION TO HONG KONG FOR INVESTMENT OPPORTUNITIES.
"WE APPRECIATE THAT SORT OF INTEREST AND WELCOME OUTSIDE INVESTMENT. WE SEE HONG KONG AS A GREAT PLACE OF OPPORTUNITY AND WE WELCOME OTHER PEOPLE TAKING PART IN THOSE OPPORTUNITIES.
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THE GOVERNMENT SPENT A HECTIC DAY IN SINGAPORE TODAY WITH MEETINGS WITH GOVERNMENT OFFICIALS, INCLUDING THE SENIOR MINISTER AND FORMER PRIME MINISTER, MR LEE KUEN-YEW, DEPUTY PRIME MINISTER AND MINISTER FOR TRADE AND INDUSTRY, BRIGADIER GENERAL, LEE HSIEN LOONG AND THE MINISTER FOR INFORMATION AND THE ARTS, BRIGADIER GENERAL GEORGE YEO.
FROM BRIGADIER GENERAL LEE'S OFFICE ON THE 50TH FLOOR OF THE TREASURY BUILDING, THE GOVERNOR WAS SHOWN SWEEPING VIEWS OF SINGAPORE AND THE SO CALLED GROWTH TRIANGLE INVOLVING SINGAPORE, INDONESIA (IN PARTICULAR THE ISLAND OF BATAM) AND MALAYSIA, PARTICULARLY JOHORE.
A NUMBER OF TOPICS WERE RAISED INCLUDING SINGAPORE INVESTMENT IN HONG KONG, TRADE MATTERS INCLUDING THE LATEST GATT TALKS AND THE RECENTLY CONCLUDED APEC FORUM IN SOBUL, AND HONG KONG'S NEW AIRPORT.
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LATE THIS AFTERNOON, THE GOVERNOR GAVE A KEYNOTE SPEECH TO FUNCTION ORGANISED BY THE SINGAPORE INSTITUTE OF POLICY STUDIES. DURING A QUESTION AND ANSWER SESSION AFTERWARDS, SIR DAVID SAID THERE WAS A NEED TO BUILD UP CO-OPERATION BETWEEN HONG KONG AND SINGAPORE, ONE OF THE WAYS THIS COULD BE ACHIEVED WAS THROUGH EXPANDED COMMUNICATION BETWEEN BUSINESSMEN FROM THE TWO PLACES AND WITH CIVIL SERVANTS.
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SIR DAVID AND LADY WILSON ARE NOW ON THEIR WAY TO NEW ZEALAND WHERE HE WILL MEET SENIOR GOVERNMENT OFFICIALS INCLUDING THE MINISTER, MR JAMES BOLGER.
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