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$250 million, commenced full operation in October. It provides technology- based businesses with incubation and other services.
On industrial land, Miss Yue said the first phase of 28 hectares in the third industrial estate at Tseung Kwan O was open to application.
She said: "Upon completion in 1996, the industrial estate will provide a total of 70 hectares to those manufacturers who cannnot operate in multi-storey buildings."
Miss Yue said the government-funded Hong Kong Applied R&D Fund Company Limited, which was formed in 1993 to provide funding support to applied research and development projects, had acted as a catalyst in promoting applied research and development activities in the territory.
"In addition, the Government approved an additional $180 million in 1994/95 to various organisations to undertake projects which are beneficial to the industrial or technological development of Hong Kong.
"Recipients ranges from industrial support bodies, trade and industrial organisations, higher educational organisations, professional bodies and research institutions," she said.
"Funding for this purpose will increase to around $200 million in 1995/96," she added.
Miss Yue said the manufacturing industries had a workforce of about
450,000.
end/Friday, December 2, 1994
Drainage channel planned for Kam Tin
The Government plans to construct a concrete drainage channel to alleviate the flooding problems in Kam Tin area.