10
MONDAY, MAY 9, 1994
39 INDUSTRIAL PROJECTS GRANTED FUNDS
TODAY
$180
TECHNOLOGY DEVELOPMENT COUNCIL (ITDC) THE INDUSTRY, AND
GOVERNMENT'S (MONDAY) APPROVED 39 PROJECTS TO BE FINANCED BY THE MILLION ADDITIONAL FUNDS FOR INDUSTRIAL SUPPORT THIS FINANCIAL YEAR.
SUPPORTING
THE FUNDS, TO BE PROVIDED ON A YEARLY BASIS, AIM AT INDUSTRIAL PROJECTS WHICH CAN CONTRIBUTE TO THE OVERALL INDUSTRIAL COMPETITIVENESS TECHNOLOGICAL DEVELOPMENT OF HONG KONG AND TO THE HONG KONG'S MANUFACTURING INDUSTRIES.
SPEAKING AT A PRESS CONFERENCE, THE ASSISTANT
OR OF
DIRECTOR-GENERAL
PROJECTS
OF INDUSTRY, MR RAYMOND YOUNG, SAID THAT ALL THE 39 APPROVED COULD FULFILL THIS OBJECTIVE.
PROJECTS
BE COULD
ENVIRONMENTAL TRAINING,
CATEGORISED
AS
CONTROL,
HE SAID THE NATURE OF THE
SUPPORT, INFRASTRUCTURE
MANPOWER PROMOTION OF NEW TECHNOLOGY AND INDUSTRIAL DATA BASE DEVELOPMENT.
"THE VETTING PROCESS WAS NOT EASY BECAUSE TECHNICAL NATURE OF THE APPLICATIONS.
OF THE VOLUME AND
OF SECTORS
INDUSTRY
EXPERT OPINIONS FROM MEMBERS OF VARIOUS WERE SOUGHT IN THE VETTING PROCESS, AND THE MAIN CRITERION ADOPTED BY
VETTING COMMITTEE (PVC) OF THE ITDC MEMBERS OF THE PROJECTS
WAS IS, WHETHER THERE WHETHER THE APPLICATION WAS 'MARKET DRIVEN', THAT WAS A GENUJNE NEED
THE DELIVERABLES OF
PROPOSED PROJECT," HE SAID.
IN THE
INDUSTRY FOR THE
THE TOTAL PROJECT COST, AMOUNTING TO SOME $289 MILLION PERIOD OF
WOULD YEARS,
TO THREE
BE DISBURSED
COST ESTIMATES ORGANISATIONS ACCORDING TO THE YEARLY PROJECTS.
OVER A THE APPLICANT OF INDIVIDUAL
FUNDS REQUIRED IN THE 1994/95 FINANCIAL YEAR $139 MILLION, WITH A COMMITMENT OF $91 MILLION FISCAL YEARS 1995/96 AND 1996/97 RESPECTIVELY.
SUCCESSFUL
AND
WOULD RE AROUND $59 MILLION FOR
OF THESE
INSTITUTIONS,
APPLICATIONS, 21
FROM INDUSTRIAL PRODUCTIVITY COUNCIL, 12 FROM SUPPORT BODIES SUCH AS THE HONG KONG HIGHER EDUCATION
FIVE FROM TRADE AND INDUSTRIAL ORGANISATIONS AND ONE FROM A RESEARCH INSTITUTE.
ARE
"THE SUCCESSFUL APPLICANTS WILL BE INFORMED OF THE DECISION
POSSIBLE THE ITDC SHORTLY AND FUNDS WILL BE DISBURSED AS SOON AS
MR YOUNG SAID. PROJECTS WHICH COST LESS THAN $10 MILLION,
OF
FOR
T1
TO
RE
FOR
T11E APPROVED PROJECTS WILL HAVE "HOWEVER, THREE OF
OF THE LEGISLATIVE COUNCIL. SUBMITTED TO THE FINANCE COMMITTEE APPROVAL BECAUSE THEIR PROJECT COST EXCEEDS $10 MILLION," HE SAID.
PRODUCT
DEVELOPMENT
CENTRE CENTRE AND
IN THE
THE NAMELY, ARE, THEY TELECOMMUNICATIONS, THE RAPID PROTOTYPING TECHNOLOGY CENTRE FOR LIQUID CRYSTAL DISPLAY RESEARCH.
/MR YOUNG