-
2 -
External investment in HK's manufacturing industries
The continuing increase in external investment in Hong Kong's manufacturing industries in the past 10 years reflects the attractiveness of Hong Kong as a manufacturing base, the Director-General of Industry, Miss Denise Yue, said.
Miss Yue was commenting on the findings of the latest survey conducted by the Industry Department on external investment in Hong Kong's manufacturing industries at a press conference today (Tuesday).
According to the latest survey findings, she said the total value of external investment at the end of 1993 was $40.9 billion, 10 per cent higher than the amount identified in last year's survey.
It was three-and-a-half times the figure of $11.4 billion in 1984 when the first survey on external investment in Hong Kong's manufacturing industries was conducted.
"The increase was largely accounted for by the rise in stock of fixed assets which, valued at $28.1 billion, was 16 per cent higher than in 1992," Miss Yue said.
Japan continued to be the leading source of external investment, accounting for $13.9 billion or 34 per cent of the total.
The United States of America was the second largest investor with investment totalling $11.5 billion (28 per cent of the total), followed by China with investment valued at $4.4 billion (11 per cent of the total).
In 1993, investment from Japan grew by 12 per cent over the last year, that from the United States by 14 per cent and that from China by seven per cent.
The electronics, textiles and clothing, electrical products and chemical products industries accounted for about 60 per cent of total external investment last year.
"A major aim of Industry Department's inward investment promotion programme is to encourage external investors to introduce to Hong Kong, through their investments, new or improved products, advanced technologies, innovative designs and management skills to help Hong Kong's manufacturing industries remain competitive in the world market," Miss Yue said.