THURSDAY, OCTOBER 22, 1992
HK'S INFRASTRUCTURE DEVELOPMENT KEY TO ECONOMIC GROWTH
* * * * *
LEAD
THE HONG KONG GOVERNMENT IS DETERMINED TO TAKE AN ACTIVE IN AREAS WHERE ITS INVOLVEMENT IS NECESSARY ΤΟ PROMOTE FURTHER INVESTMENT AND GROWTH,
DIRECTOR OF THE NEW AIRPORT PROJECTS CO-ORDINATION OFFICE,
RAFAEL HUI, SAID IN VANCOUVER, CANADA, YESTERDAY (WEDNESDAY).
THE
MR
HERE THE GOVERNMENT HAS
"ONE OF THESE AREAS IS INFRASTRUCTURE. ALWAYS TAKEN A LEADING PART IN DEVELOPING LAND RECLAMATIONS, ROADS, RAILWAYS, PORT FACILITIES AND SO ON,' HE SAID.
H
OF
HONG MR HUI WAS ADDRESSING A BUSINESS SEMINAR ORGANISED BY THE KONG TRADE DEVELOPMENT COUNCIL IN VANCOUVER AS PART
THE FESTIVAL
HONG KONG 192.
IN HIS SPEECH ON "OPPORTUNITIES FOR INFRASTRUCTURAL
MR HUI DEVELOPMENTS IN HONG KONG",
ALSO OUTLINED PROGRESS ON THE AIRPORT CORE PROGRAMME (ACP).
"OVER THE PAST 10 YEARS, FOR EXAMPLE, THE GOVERNMENT'S
UP ABOUT 20 EXPENDITURE ON PUBLIC WORKS HAS, ON AVERAGE, TAKEN
OR THREE TO FOUR CENT OF TOTAL ANNUAL GOVERNMENT EXPENDITURE, CENT OF THE GROSS DOMESTIC PRODUCT (GDP).
PER
PER
"IN 1992/93, THE EXPENDITURE IS EXPECTED ΤΟ REACH HK$28.2
REPRESENTING BILLION,
23.3 PER CENT OF THE ESTIMATED GOVERNMENT EXPENDITURE OR 2.9 PER CENT OF THE ESTIMATED GDP.
"IT IS ENVISAGED THAT THE INVESTMENT LEVEL WILL GROW FURTHER
THE IN THE NEXT 10 YEARS WITH
IMPLEMENTATION OF THE AIRPORT CORE PROJECTS," HE SAID.
INVESTMENT WAS
MR HUI STRESSED THAT SUCH HEAVY INFRASTRUCTURE ESSENTIAL TO THE LONG-TERM ECONOMIC WELL-BEING OF HONG KONG.
WILL "WITHOUT IT, ECONOMIC GROWTH
SLOW DOWN AND BUSINESSES WILL DECLINE OR MOVE ELSEWHERE. THAT IN TURN
THE WILL AFFECT GOVERNMENT'S REVENUES AND THEREFORE ITS ABILITY ΤΟ PROVIDE SOCIAL
H HE SAID. SERVICES IN A SOCIETY WHICH EXPECTS THE GOVERNMENT TO CARE,
AS INFRASTRUCTURE PROJECTS ARE SO LARGE, IT IS OFTEN FOR THE GOVERNMENT TO TAKE A LEAD, MR HUI SAID.
"BUT THE PRIVATE SECTOR ALSO PLAYS A VERY IMPORTANT YOU WOULD EXPECT IN A PLACE WHICH THRIVES ON BUSINESS,
11
NECESSARY
ROLE, HE SAID.
AS
THAT
DEVELOPMENTS THE LEAD GIVEN BY THIS OPENED UP FOR THE
TAKING SOME OF HONG KONG'S MAJOR INFRASTRUCTURAL AS EXAMPLES, MR HUI SAID THESE DEMONSTRATED BOTH THE GOVERNMENT AND THE OPPORTUNITIES PRIVATE SECTOR.
/THESE DEVELOPMENTS