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WEDNESDAY, NOVEMBER 27, 1991
SURVEY ON OVERSEAS INVESTMENT IN MANUFACTURING INDUSTRIES RELEASED
JAPAN HAS NOW BECOME THE LEADING SOURCE COUNTRY OF INVESTMENT IN HONG KONG'S MANUFACTURING INDUSTRIES, ACCOUNTING FOR 32 PER CENT OF THE TOTAL.
THIS IS REVEALED IN THE LATEST SURVEY CONDUCTED INDUSTRY DEPARTMENT ON OVERSEAS INVESTMENT MANUFACTURING INDUSTRIES.
IN HONG
CONFERENCE
BY THE KONG'S
TODAY
MR T.H. BARMA, SAID
PRESENTING RESULTS OF THE SURVEY AT A PRESS (WEDNESDAY), THE DIRECTOR-GENERAL OF INDUSTRY, THIS WAS A CONTINUATION OF THE TREND IN THE LAST FEW YEARS WHICH SAW SIGNIFICANT GROWTH IN JAPANESE INVESTMENT.
"IN FACT, OVER 40 PER CENT OF THE GROSS ADDITION то FIXED ASSETS IN 1990 WAS MADE BY JAPAN, HE SAID.
MR BARMA SAID THE UNITED STATES (WITH 31 PER CENT OF THE TOTAL) WAS THE SECOND LARGEST OVERSEAS INVESTOR AFTER JAPAN.
CHINA (WITH 11 PER CENT) AND THE UK (WITH 7 PER CENT) STAYED
IN THE THIRD AND FOURTH PLACES RESPECTIVELY.
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"I SHOULD ADD THAT INVESTMENTS FROM THESE 'BIG FOUR' HAVE ALL INCREASED IN 1990 COMPARED WITH 1989 THOUGH THE RATE OF INCREASE VARIES FROM COUNTRY TO COUNTRY, HE SAID.
MR BARMA SAID A TOTAL OF 545 COMPANIES WITH OVERSEAS INVESTMENT RESPONDED TO THE SURVEY WHICH WAS CONDUCTED BETWEEN JUNE AND SEPTEMBER THIS YEAR.
AT THE END OF 1990
"THE TOTAL VALUE OF OVERSEAS INVESTMENT WAS $30.9 BILLION, $1.2 BILLION (OR 4 PER CENT) HIGHER THAN IN THE PREVIOUS YEAR, AND NEARLY THREE TIMES THE 1984 FIGURE OF $11.4 BILLION," HE SAID.
MR BARMA ADDED THAT THE STOCK OF FIXED ASSETS, AT $20.2 BILLION, WAS 15 PER CENT HIGHER THAN 1989.
"THIS SIGNIFIES THAT THERE HAS BEEN A CONTINUING INCREASE IN NEW INVESTMENT AND REINVESTMENT IN HONG KONG'S MANUFACTURING INDUSTRIES DESPITE SOME OVERSEAS COMPANIES RELOCATING PARTS OF THEIR OPERATIONS TO LOWER COST PRODUCTION CENTRES SUCH AS CHINA AND SOUTHEAST ASIA,' HE SAID.
"I
SAID
AS REGARDS INDIVIDUAL MANUFACTURING SECTORS, MR BARMA OVER 60 PER CENT OF THE TOTAL OVERSEAS INVESTMENT LAST YEAR WAS MADE IN THE ELECTRONICS, ELECTRICAL PRODUCTS, TEXTILES AND CLOTHING AND CHEMICAL PRODUCTS INDUSTRIES.
MR BARMA SAID THE INDUSTRY DEPARTMENT WAS ALSO THE QUALITY OF OVERSEAS INVESTMENT.
INTERESTED IN
/"WE BELIEVE