XN000022-1976-04-07 — Page 18

Wednesday, April 7, 1976

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The other point is that the system is merely a method of

And the real

distribution.

It cannot make moro quota available.

cause of the trouble recently has been that under the Agreements

Hong Kong has been obliged to sign, it just does not have enough

quota to be able to allow the current level of demand for some

products to be met.

Turning to Hong Kong's industrial development, Mr. Jordan

said he shared Mr. James Wu's wish to see the establishment and-

growth of a medium-to-heavy engineering industry, both for the

stimulus it could give to Hong Kong's industrial development

and for the employment it could provide for university and

polytechnic graduates and for the young people emerging from

the technical institutes.

Mr. Jordan added: "We have had a nucleus of heavy

engineoring in our dockyards for a long time, our first technical

institute opened in 1969, the Polytechnic was inaugurated in April

1972, land policy was modified to provide for large-scale industrial

plants in 1973. The remaining gap should be filled by the establish-

ment of our first industrial estate, which will nako possible the

establishment of medium-size factories of types that are unable

to operate in high-rise factory buildings,"

"The fact that the Tai Po Industrial Estate is now on the

way to becoming a reality will, we hope, make it easier to attract

new overscas investment into Hong Kong and we are increasing our

efforts in this fiold," Mr. Jordan continued.

He said that the proposed programme for 1976 included

overacas missions by the Hong Kong General Chamber of Commerce

/to

to Australia......................