XN000022-1973-11-14 — Page 19

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Wednesday, November 14, 1973

GOVERNMENT URGED TO SELL INDUSTRIAL LAND DIRECT TO USERS

To Prevent Inflation Of Costs

The Hon. James M.H. Wu today urged the Government to sell or

rent new industrial land direct to the user to provide security and

to prevent inflation of costs.

Speaking at the Legislative Council, he said this would not

make landlords the "undeserving beneficiary of advance."

He noted that Hong Kong was still plagued with the indecision of

supplying suitable land at economic prices for projects to be set up in

the best public interest, while its competing neighbours had been rapidly.

broadening their industrial base.

"I am therefore very glad to know, Sir, that you are receptive

of the idea of 'industrial parks' we have pursued for specific land-

intensive supporting industries and can only request that the plan be

implemented with the greatest urgency to boost up our present reduced

production, and more important, to provide job opportunities for the

hundreds of thousands that are to be housed in the New Territories.

"Again, we must remind ourselves that a high level of production

constitute the keystone of effective economic security, upon which all

our plans depend," he said.

Earlier, Mr. Wu said that for the first time in its industrial

history, Hong Kong textiles and footwear would begin to lose its Commonwealth

Preference, and exchange its former favourable position with such competitors

as South Korea and the Philippines as from Januray next year.

/In addition,......