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WEDNESDAY, APRIL 1, 1992
SAN FRANCISCO OFFICE WELL PLACED TO PROMOTE INVESTMENT
* * * * * *
THE SAN FRANCISCO ECONOMIC AND TRADE OFFICE HELD OVER 240 ON-SITE MEETINGS LAST YEAR WITH COMPANIES IN NINE STATES OF THE U.S. AND ONE CANADIAN PROVINCE TO PROMOTE THE ADVANTAGES OF INVESTING IN HONG KONG.
MR
THIS WAS STATED BY THE SECRETARY FOR TRADE AND INDUSTRY, T.H. CHAU, IN A WRITTEN REPLY TO A QUESTION BY THE HON HENNY TANG AT THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
IN ADDITION, THE OFFICE COVERED 40 TRADE SHOWS AND CONFERENCES TO TARGET POTENTIAL INVESTORS IN HONG KONG.
HE SAID ONE INDUSTRIAL INVESTMENT PROJECT WAS COMPLETED WITH THE OFFICE'S ASSISTANCE AND A FURTHER 65 WERE BEING ACTIVELY CONSIDERED BY WEST COAST COMPANIES.
THE OFFICE COVERS THE WESTERN HALF OF THE U.S. CENTRALLY LOCATED FOR THIS PURPOSE.
AND IS
HE SAID SAN FRANCISCO WAS CONSIDERED A SUITABLE LOCATION BECAUSE IT HAD SUBSTANTIAL LINKS WITH HONG KONG.
THERE
WAS A
IT WAS CLOSE TO THE SILICON VALLEY AREA WHERE CONCENTRATION OF THE HIGH TECHNOLOGY INDUSTRIES WHICH HONG KONG'S INWARD INVESTMENT PROGRAMME SOUGHT TO ATTRACT, HE ADDED.
TASKED :
APART FROM INDUSTRIAL INVESTMENT PROMOTION, THE OFFICE IS
* TO SAFEGUARD HONG KONG'S ECONOMIC AND COMMERCIAL INTERESTS ;
* TO PROMOTE HONG KONG AS A REGIONAL BUSINESS CENTRE AND
GATEWAY TO CHINA;
* TO ESTABLISH AND MAINTAIN CONTACTS WITH GOVERNMENT, BUSINESS,
THE MEDIA AND THE ACADEMIC SECTOR WITH A VIEW TO BUILDING A STRONG PRO-HONG KONG CONSTITUENCY IN THE U.S.;
* TO DEVELOP LINKS WITH THE HONG KONG COMMUNITY IN THE REGION;
AND
* TO PROVIDE AN INFORMATION SERVICE ON HONG KONG.
THE RUNNING COSTS OF THE OFFICE IN 1991-92 ARE $10 MILLION. THE COSTS FOR 1992-93 ARE ESTIMATED AT $10.6 MILLION.
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