13
THURSDAY, APRIL 15, 1993
"THROUGH THE EXPANDING EDUCATION PROGRAMMES OF THE UNIVERSITIES AND POLYTECHNICS, THE TECHNICAL COLLEGES AND OTHER TRAINING INSTITUTIONS, WE HAVE BEEN INCREASING THE TECHNOLOGICAL LITERACY OF OUR WORK FORCE, ENCOURAGING AND FUNDING RESEARCH, AND OPENING UP IDEAS ΤΟ THE PEOPLE WHO WILL BE THE NEXT GENERATION OF INNOVATORS AND ENTREPRENEURS IN MANUFACTURING, MR CHAU SAID.
"THE INDUSTRY DEPARTMENT HAS ESTABLISHED STANDARDS INFORMATION AND CALIBRATION SERVICES THAT RANK WITH THE BEST IN THE WORLD.
AND
"IT HAS BEEN DIRECTING MUCH EFFORT, CO-ORDINATED WITH THE PRODUCTIVITY COUNCIL, MANUFACTURERS ASSOCIATIONS, TRADE BODIES, THE HONG KONG QUALITY ASSURANCE AGENCY THAT IT HAS ESTABLISHED, ΤΟ PROMOTE QUALITY AWARENESS, BOTH FOR PRODUCTS AND FOR MANAGEMENT AND PRODUCTION TECHNIQUES, SO THAT HONG KONG MANUFACTURES WILL COMMAND EVER HIGHER VALUE IN WORLD MARKETS, M MRCHAU SAID.
GOVERNMENT HAS PLANNED AHEAD, AIMING TO ENSURE THAT HONG KONG HAS THE ROADS, THE UTILITIES, THE COMMUNICATIONS, THE PORT, THE RAILWAYS AND THE AIRPORT FACILITIES THAT IT NEEDS TO ALLOW BUSINESS TO BE DONE QUICKLY AND EFFICIENTLY, HE SAID.
ALL OF THESE ACTIVITIES REQUIRE SUBSTANTIAL INVESTMENTS BY GOVERNMENT BUT THESE INVESTMENTS ARE MADE PRUDENTLY, MR CHAU NOTED, ADDING THAT EXPENDITURE HAD BEEN LINKED TO GROWTH IN THE ECONOMY AND TAXES WERE KEPT LOW AND SIMPLE SO AS NOT TO REDUCE THE COMPETITIVENESS OF INDUSTRY, OR ITS INCENTIVES.
"THE INVESTMENTS HAVE BEEN MADE IN THINGS OF LASTING VALUE ΤΟ ANY INDUSTRY OR BUSINESS. THEY HAVE NOT BEEN HAZARDED ON THE FORTUNES OF ANY PARTICULAR INDUSTRY, OR USED TO PROP UP ANY BUSINESS THAT CAN NO LONGER COMPETE BY ITSELF.
"THIS PRUDENT, EVEN-HANDED APPROACH IS A VITAL PART OF THE PARTNERSHIP. GOVERNMENT PROVIDES THE SOUND FRAMEWORK WITHIN WHICH INDUSTRY IS WELL REWARDED WHEN THE RISKS IT TAKES ARE SUCCESSFUL, IS ENCOURAGED ΤΟ CUT ITS LOSSES QUICKLY AND TRY NEW IDEAS WHEN A RISK FAILS AND IS LEFT FREE TO CHOOSE AND ADAPT TO MEET THE NEEDS OF ANY CHANGES AND OPPORTUNITIES," HE SAID,
AS A RESULT OF THIS GOVERNMENT/INDUSTRY PARTNERSHIP THE REAL VALUE OF HONG KONG'S DOMESTIC EXPORTS HAD RISEN BY OVER 50 PER CENT SINCE 1985.
THE GROWTH IN DOMESTIC EXPORTS FROM HONG KONG FOR CONSUMPTION IN CHINA WAS NOW RUNNING AT OVER TWICE THE RATE OF GROWTH OF DOMESTIC EXPORTS FOR OUTWARD PROCESSING IN CHINA, HE NOTED.
LOOKING FURTHER AFIELD, HR CHAU SAID DESPITE THE LENGTHY RECESSION IN EUROPE AND AMERICA, HONG KONG'S MARKETS THERE HAD HELD FAIRLY STEADY.
"DESPITE OUR INCREASING LABOUR COSTS AND DOMESTIC INFLATION, THE PRICES OF OUR EXPORTS HAVE BEEN KEPT AT COMPETITIVE LEVELS.
"
/THIS HAD