23
THURSDAY, NOVEMBER 17, 1994
APPLICATIONS
WENT ΤΟ INVOLVING $60.7 MILLION ELEVEN CATEGORY WHILE 10 APPLICATIONS AMOUNTING TO $26.4 MILLION PLASTICS CATEGORY.
METALS WENT ΤΟ
THREE APPLICATIONS WERE MADE UNDER TEXTILE AND CLOTHING CATEGORY INVOLVING $15.1 MILLION.
THIS ANNOUNCING
TODAY
THE (THURSDAY),
ASSISTANT DIRECTOR- GENERAL OF INDUSTRY, MR RAYMOND YOUNG, SAID A SERIES OF MEETINGS WOULD
BY BE HELD
TECHNOLOGY VARIOUS COMMITTEES UNDER THE INDUSTRY AND
VETTING DEVELOPMENT COUNCIL (ITDC) IN DECEMBER TO CONDUCT PRELIMINARY OF THE APPLICATIONS.
THE APPLICATIONS WOULD THEN BE EXAMINED BY THE PROJECTS VETTING AND COMMITTEE (PVC) WHICH COMPRISED THE CHAIRMEN OF ITDC'S COMMITTEES APPROVAL. OTHER ITDC MEMBERS BEFORE SUBMISSION TO THE ITDC FOR RESULT OF THE APPLICATIONS WOULD BE ANNOUNCED IN APRIL. NEXT YEAR.
THE
$10.
"THE MILLION WILL SAID, ADDING SUBMITTED APPROVAL.
AUTHORITY
TO
TO
APPROVE PROJECTS COSTING REST WITH THE DIRECTOR-GENERAL OF INDUSTRY, THAT PROJECTS COSTING $10 MILLION OR
LEGISLATIVE THE FINANCE COMMITTEE OF THE
LESS
17
ABOVE
THAN MR YOUNG WOULD BE
COUNCIL FOR
BY
ADOPTED DRIVEN' INDUSTRY FOR THE
ON THE FUNDING CRITERIA, HE SAID: "THE MAIN CRITERION MEMBERS OF THE PVC IS WHETHER THE APPLICATION IS 'MARKET
WHETHER THERE IS A GENUINE NEED IN THE IS, DELIVERABLES OF THE PROPOSED PROJECT.“
THAT
"NO
PARTICULAR WOULD BE GIVEN FOR ANY PRIORITIES INDUSTRY OR ANY SPECIFIC AREA OF TECHNOLOGY.
SECTOR
OF
ELIGIBLE
FOR
FUNDING SUPPORT
SHOULD
BE
KONG'S
ABLE то
OF
MANUFACTURING
"PROJECTS CONTRIBUTE TO THE OVERALL INDUSTRIAL OR TECHNOLOGICAL DEVELOPMENT
HONG HONG
AND TO THE COMPETITIVENESS OF KONG INDUSTRIES.
INDUSTRY INCREASE
"EXAMPLES ARE THOSE WHICH AIM TO PROVIDE A COMMUNAL SUPPORT SERVICE, INTRODUCE NEW TECHNIQUES OF MANUFACTURING, PRODUCTIVITY OR ENHANCE THE INFRASTRUCTURAL SUPPORT TO INDUSTRY.
"ANOTHER CRITERION IS THAT PROJECTS SHOULD BE NON-PROFIT MAKING THE LONG- IN NATURE, EXCEPT FOR THE PURPOSE OF SELF-SUFFICIENCY IN TERM, HE ADDED.
..
SUBJECT TO THE APPROVAL OF THE GOVERNMENT'S ANNUAL ESTIMATES,
AVAILABLE PROVISION OF APPROXIMATELY $200 MILLION WILL BE MADE THIS PURPOSE IN THE 1995/96 FINANCIAL YEAR.
A
FOR
/24