XN000022-1975-10-15 — Page 5

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WEDNESDAY, OCTOBER 15, 1975-

INDUSTRIAL ESTATES: STEERING GROUP STRENGTHENED

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THE GOVERNMENT'S' WORKING GROUP ON INDUSTRIAL ESTATES IS TO BE STRENGTHENED TO GIVE GREATER IMPETUS TO THE DEVELOPMENT OF THIS NEW VENTURE AIMED AT ACCELERATING THE GROWTH OF NEW INDUSTRIES INI HONG KONG.

THE EXECUTIVE COUNCIL HAS APPROVED THE APPOINTMENT OF THE DEPUTY CHAIRMAN OF THE HONG KONG AND SHANGHAI BANKING CORPORATION, MR. MICHAEL SANDBERG, AS CHAIRMAN OF THE WORKING GROUP WHICH HAS BEEN RENAMED THE STEERING GROUP ON INDUSTRIAL ESTATES.

THE PRESENT CHAIRMAN, THE SECRETARY FOR ECONOMIC SERVICES,

MR. DEREK JONES, WILL BECOME DEPUTY CHAIRMAN.

A GOVERNMENT SPOKESMAN SAID TODAY IT WAS FELT THAT THE APPOINTMENT OF A CHAIRMAN FROM OUTSIDE THE GOVERNMENT WITH A WIDE KNOWLEDGE OF BUSINESS CONDITIONS IN HONG KONG WOULD BROADEN THE ' OUTLOOK OF THE GROUP'S DELIBERATIONS AND WOULD GIVE IT A GREATER AUTHOR:ITY AND IMPETUS IN CO-ORDINATING THE WORK TO BE DONE.

MR. SANDBERG HAS ALREADY DISPLAYED CONSIDERABLE INTEREST IN INDUSTRIAL ESTATES THROUGH HIS MEMBERSHIP OF THE TRADE AND INDUSTRY ADVISORY BOARD.

IN ADDITION, A GOVERNMENT OFFICIAL, MR. PETER JOHNSON, HAS BEEN APPOINTED AS CO-ORDINATOR OF ALL WORK CONNECTED WITH INDUSTRIAL ESTATES, IN PARTICULAR THE TAI PO ESTATE, THE CONSTRUCTION OF WHICH WILL SHORTLY COMMENCE. HE WILL ALSO ACT AS SECRETARY OF THE STEERING GROUP AND BE RESPONSIBLE FOR PLANNING AND NEGOTIATING LAND SALES AND LEASINGS WITHIN THE ESTATE.

MR. JOHNSON HAS ALSO BEEN APPOINTED SECRETARY OF THE RECENTLY FORMED STEERING COMMITTEE ON INDUSTRIAL INVESTMENT PROMOTION, OF WHICH MR. JONES IS CHAIRMAN. THE PURPOSE OF THIS COMMITTEE IS TO CO-ORDINATE THE ACTIVITIES OF THE COMMERCE AND INDUSTRY DEPARTMENT, THE TRADE DEVELOPMENT COUNCIL AND THE HONG KONG GENERAL CHAMBER OF COMMERCE IN SEEKING OVERSEAS INDUSTRIAL INVESTMENT IN HONG KONG. ONE OF THE MAIN SELLING POINTS OF SUCH PROMOTION WILL BE THE FUTURE AVAILABILITY OF LAND IN INDUSTRIAL ESTATES.

THE SPOKESMAN SAID THESE DEVELOPMENTS ARE NEEDED IN VIEW OF. THE BENEFIT TO THE ECONOMY THAT COULD ARISE FROM INVESTMENT IN NEW INDUSTRIES THAT ARE VIABLE AND COMPETITIVE IN EXPORT MARKETS.

THERE IS ALSO A NEED, HE SAID, TO PROCEED AS QUICKLY AS POSSIBLE WITH THE DEVELOPMENT OF STAGE OF THE TAI PO ESTATE IN ORDER TO TEST, IN PRACTICE, WHETHER SUCH INDUSTRIES CAN BE ATTRACTED TO HONG KONG, GIVEN THE INTEREST ALREADY SHOWN BY A NUMBER OF OVERSEAS FIRMS AS WELL AS LOCAL INDUSTRIALISTS.

THE FIRST STAGE OF THE DEVELOPMENT AT TAI PO INVOLVES THE FORMATION OF ABOUT 60 ACRES OF LAND WITH THE NECESSARY FACILITIES, INCLUDING A SEWAGE TREATMENT PLANT AND THE PROVISION OF A WATER SUPPLY. FINANCE COMMITTEE HAS APPROVED A LOAN OF $60 MILLION FROM THE DEVELOPMENT LOAN FUND FOR THE PROJECT.

WITH REGARD