XN000022-1977-04-20 — Page 9

WEDNESDAY, APRIL 2", 1CAN

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MR. JORDAN GAVE AN ASSURANCE THAT THE GOVERNMENT WOULD CONTINUE ITS EFFORTS TO PERSUADE THOSE OF OUR TRADING PARTNERS WHO ARE DOUBTFUL ABOUT IT THAT THE MFA AS IT EXISTS NOW ALREADY PROVIDES FOR AS MUCH RESTRICTIONS ON LEGITIMATE TRADE AS WE CAN REASONABLY BE EXPECTED TO ACCEPT AND THAT THIS WOULD BE IN THE INTERESTS NOT ONLY OF HONG KONG AND OF OTHER DEVELOPING COUNTRIES. BUT IN THE INTEREST OF THE GROWTH OF WORLD TRADE, ON WHICH THE DEVELOPED COUNTRIES ALSO DEPEND.+

ON THE QUESTION OF INDUSTRIAL DEVELOPMENT, THE DIRECTOR OF COMMERCE AND INDUSTRY EXPLAINED THAT HIS DEPARTMENT WAS CONCERNED TO ENCOURAGE AND ASSIST THE DIVERSIFICATION OF PRODUCTS, AND THAT THE TRADE DEVELOPMENT COUNCIL HAD BEEN PROMOTING DIVERSIFICATION OF MARKETS.

BUT, HE ADDED, THE DEPARTMENT WAS NOT GOING TO PRODUCE PLANNED GROWTH RATES OF THE REAL PRODUCTS FOR MAJOR INDUSTRIES AS SUGGESTED BY ONE COUNCILLOR. +THERE WOULD BE NO POINT IN DOING SO UNLESS WE WERE PREPARED TO USE GOVERNMENT AUTHORITY AND FINANCE TO SEE THAT THOSE RATES ARE ACHIEVED, HE SAID.

+WHAT WE ARE GOING TO DO IS TO PUT MORE EFFORT INTO THE 'ACTIVE PROMOTION OF INDUSTRIAL DEVELOPMENT', WHICH ANOTHER COUNCILLOR, THE HON. JAMES WU, SAID WE MUST PURSUE WITH FULL VIGOUR'.+

MR. JORDAN CONTINUED: IN THE LAST FEW YEARS WE AND THE HONG KONG GENERAL CHAMBER OF COMMERCE HAVE EXPANDED OUR ACTIVITIES IN THIS FIELD, IN ASSOCIATION WITH THE TRADE DEVELOPMENT COUNCIL. IN 1976 WE SENT MISSIONS TO AUSTRALIA, SWITZERLAND, THE FEDERAL REPUBLIC OF GERMANY, THE UNITED STATES AND JAPAN.

+AS A RESULT OF THESE AND THE EARLIER MISSIONS, ELEVEN NEW FACTORIES HAVE BEEN ESTABLISHED IN HONG KONG, MANUFACTURING PRODUCTS AS DIVERSE AS FORGED STEEL VALVES, ELECTRIC SWITCH BOARDS AND SWITCHGEAR, LIQUID QUARTZ CRYSTALS AND SYNTHETIC LEATHER PRODUCTS.

+I HOPE SOON TO BE ABLE TO IMPLEMENT A RE-ORGANISATION AND STRENGTHENING OF THE DEPARTMENT, WHICH WILL ENABLE US

EVEN IN ADVANCE OF THIS, THE TO INCREASE OUR EFFORTS. CHAMBER,

THE TRADE DEVELOPMENT COUNCIL AND THE DEPARTMENT PLAN TO SEND OUT A TOTAL OF SIX INDUSTRIAL INVESTMENT PROMOTION MISSIONS TO AUSTRALIA, THE UNITED STATES, CANADA, WEST GERMANY, SWITZERLAND, FRANCE AND JAPAN DURING 1977.

+1N ORGANISING THESE MISSIONS WE SHALL CONTINUE TO SELECT AS OUR TARGETS COMPANIES WHICH IF THEY SET UP HERE, WOULD WIDEN OUR INDUSTRIAL BASE AND RAISE THE LEVEL OF TECHNOLOGY. THIS IS THE NEAREST WE GET- AND IT ISN'T VERY CLOSE TO PLANNING INDUSTRIAL DEVELOPMENTS. SELECTIVE ENCOURAGEMENT - BUT AT THE SAME TIME WE SHALL ALWAYS BE READY TO ASSIST ANY POTENTIAL INDUSTRIAL INVESTMENT, WHETHER THE SOURCE IS LOCAL OR OVERSEAS.

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+AS I HAVE OFTEN SAID, IT'S OUR JOB TO ENCOURAGE AND ASSIST. IT'S THE POTENTIAL INVESTOR'S JOB TO DECIDE - TO MAKE HIS OWN DECISION AND TO STAND OR FALL BY IT,+

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