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Mr Tsang gave examples of what the Framework for Action and the individual Action Agendas were proposing. He said:
The Trade
We must do more to promote our trade in services. Development Council has already done an outstanding job in promoting our visible trade. It has agreed to expand its work in promoting trade in services, particularly the exports of services. This will complement the work of the Trade Department and our ten economic and trade offices overseas in gaining market access under the multilateral trading regime for our service exporters.
We must do more to promote inward investment in the services sector. The Industry Department is already very successful in attracting inward investment for the manufacturing sector. It will in future undertake a similar role for the services sector.
We must do more to maintain Hong Kong's position as the premier tourist destination in the region. The Hong Kong Tourist Association has recently formulated a visitor and tourism strategy to help us achieve that in the increasingly competitive environment in which we operate. We will continue to give it support in this.
The Export Credit Insurance Corporation has developed a range of facilities to support the services sector in its drive for new markets abroad. It will bring these vital services to the attention of the whole of the sector which has, so far, not made the fullest use of the Corporation's facilities.
We must do more to support the small and medium enterprises employing less than 50 workers which make up the bulk of the services sector. We shall work with the private sector to formulate new initiatives to enhance productivity, upgrade management systems, identify financing options and make market information more accessible.
Mr Tsang said the Government needed to be very cautious in committing public funds to support what were essentially commercial projects.
There could be no question of feather-bedding business or bailing out failed enterprises. But there was a good case for providing financial support to specific projects which could make a general contribution to the competitiveness of the services sector.
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