XN000022-1976-02-23 — Page 4

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MONDAY, FEBRUARY 23, 1976

BRIGHT FUTURE FOR TUEN MUN NEW TOWN

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SIGNIFICANT DEVELOPMENTS WHICH HAVE TAKEN PLACE OVER THE PAST FEW MONTHS AUGUR WELL FOR THE FUTURE OF TUEN MUN AS A NEW TOWN.

THIS WAS STATED THIS (MONDAY) EVENING BY MR. TONY BENNETT, DISTRICT OFFICER FOR TUEN MUN, WHO WAS ADDRESSING MEMBERS OF THE ROTARY CLUB OF THE NEW TERRITORIES AT THE PENINSULA HOTEL.

MR. BENNETT SAID THAT WHILE ON THE INDUSTRIAL FRONT WE WERE NOW BEGINNING TO EMERGE FROM A PERIOD OF ECONOMIC UNCERTAINTY THERE HAD BEEN IN TUEN MUN INDICATIONS IN THE INDUSTRIAL SECTOR WHICH WERE VERY ENCOURAGING.

+WHILST NO INDUSTRIAL LAND WAS DISPOSED OF WITHIN THE NEW TOWN DURING 1975, DUE TO A SLOWING DOWN OF INTEREST IN DEVELOPMENT, + MR. BENNETT SAID, +WE HAVE HAD ABOUT 20 GENUINE ENQUIRIES FOR THE PURCHASE OF INDUSTRIAL LAND DURING THE FIRST TWO MONTHS OF THIS YEAR.

+WITH RETURNING BUSINESS CONFIDENCE, HE WENT ON, WE NOW EXPECT TO SEE AN INCREASED INTEREST IN THE DEVELOPMENT OF INDUSTRIAL SITES AT TUEN MUN. FOR THE FACILITIES OFFERED BY TUEN MUN ARE NOW VERY ATTRACTIVE INDUSTRIAL LAND IS AVAILABLE AT A COST OF ABOUT $50 PER SQ. FT. ON AN INSTALMENT BASIS OVER TEN YEARS AT FIVE PER CENT INTEREST.+

MR. BENNETT SAID THAT UNDER A NEW GOVERNMENT POLICY, LAND MAY BE MADE AVAILABLE BY PRIVATE TREATY GRANT IN THE CASE OF INDUSTRIES BRINGING NEW OR SOPHISTICATED TECHNOLOGY TO HONG KONG. APPLICATIONS FOR SUCH ARE ALREADY UNDER PROCESS AND ONE FACTORY WHITHIN THIS CATEGORY IS PLANNED TO BE IN OPERATION IN TUEN MUN BY SEPTEMBER THIS YEAR,+ HE POINTED OUT.

MR. BENNETT CONTINUED: +CONSIDERATION IS NOW BEING GIVEN TO A SCHEME WHEREBY A PART OF THE ACCOMMODATION IN THE NEW TOWN'S PUBLIC HOUSING ESTATES WOULD BE RESERVED FOR WORKERS IN THE NEW FACTOR JES TO BE BUILT AT TUEN MUN. A NUMBER OF INDUSTRIALISTS HAVE ALREADY EXPRESSED INTEREST IN SUCH A SCHEME.+

SPEAKING ABOUT THE NEW HIGHWAY WHICH WILL LINK TSUEN WAN WITH TUEN MUN WHEN IT IS COMPLETED IN SEPTEMBER NEXT YEAR, MR. BENNETT SAID IT WAS A MAJOR FACTOR IN OPENING UP COMMERCIAL AND INDUSTRIAL OPPORTUNITIES.

+THE PAST SIX MONTHS HAVE BEEN VERY ENCOURAGING FOR TUEN MUN NEW TOWN,+ DECLARED MR. BENNETT, +PROGRESS ON ITS PHYSICAL DEVELOPMENT IS NOW GETTING INTO HIGH GEAR, DEVELOPMENT PROBLEMS ARE BEING RESOLVED WITH THE ACTIVE HELP OF THE COMMUNITY, AND THE MAIN FACILITIES ARE NOW APPEARING JUST AT THE TIME WHEN THE ECONOMIC CLIMATE FAVOURS A RETURN TO MORE POSITIVE AND AGGRESSIVE INVESTMENT IN DEVELOPMENT.+

/MR. BENNETT