XN000022-1977-05-23 — Page 5

D.C. AND 1. TO STRENGTHEN INDUSTRIAL PROMOTION DRIVE

THE COMMERCE AND OF OFFICER AS PART OF ATTRACT INVESTMENT IN

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INDUSTRY DEPARTMENT IS TO HAVE A NEW GRADE ITS PROGRAMME TO STRENGTHEN ITS DRIVE TO HONG KONG INDUSTRY.

MEN TO

CALLED INDUSTRIAL PROMOTION PROJECT OFFICERS APPOINTED WILL PROBABLY HAVE GRADUATED IN INDUSTRIAL, ELECTRICAL MECHANICAL OR PRODUCTION ENGINEERING, HAVE HAD 10 YEARS' INDUSTRIAL EXPERIENCE AND WILL HAVE A SOUND KNOWLEDGE OF MANUFACTURING INDUSTRY GAINED IN A SENIOR MANAGERIAL POSITION.

GRADUATECNOFEDGERSTACHE YCRE,

THESE OFFICERS WILL COMPLEMENT THE EXISTING STAFF IN THE COMMERCE AND INDUSTRY DEPARTMENT ALREADY EMPLOYED IN THE WORK OF PROMOTING INVESTMENT IN HONG KONG INDUSTRY, WHOSE NUMBERS MUST BE INCREASED.

A SPOKESMAN FOR THE COMMERCE AND INDUSTRY DEPARTMENT EXPLAINED THAT THE TECHNIQUES OF PROMOTION MUST ALSO BE EXPANDED AS THE SERVICING DEMANDS OF WOULD-BE INVESTORS WERE INCREASING IN COMPLEXITY.

THE NEW OFFICERS WILL BE REQUIRED TO HELP PLAN PROMOTION MISSIONS, TRAVEL OVERSEAS WITH THESE MISSIONS AND ATTEND TO THE FOLLOW-UP WORK GENERATED BY THEM. THEY WILL DEAL EXTENSIVELY WITH INDIVIDUAL PROJECTS RESULTING FROM THESE MISSIONS OR BY OTHER MEANS.

THIS WOULD INCLUDE LIAISING WITH, AND ASSISTING, THE MANAGEMENT OF OVERSEAS OR LOCAL INDUSTRIAL CONCERNS MAKING FEASIBILITY STUDIES WITH A VIEW TO SETTING UP NEW PRODUCTION FACILITIES HERE.

THE SPOKESMAN POINTED OUT THAT THE TYPE OF INVESTMENT DECISION WHICH WAS INVOLVED IN ESTABLISHING HIGHER TECHNOLOGY INDUSTRIES REQUIRED VERY DETAILED PRELIMINARY STUDIES WHICH, IN SOME CASES, MIGHT TAKE TWO YEARS TO COMPLETE.

THROUGHOUT THAT PERIOD, HE SAID, THE COMPANIES CONCERNED WERE IN CONSTANT TOUCH WITH THE DEPARTMENT.

+ IT FOLLOWS, THEREFORE, THAT MANY OF THE ENQUIRIES GENERATED IN, SAY 1975 AND 1976, WILL STILL BE ON THE +ACTIVE+ LIST IN 1977 AND 1978 WHEN ADDITIONAL OVERSEAS MISSIONS ARE BEING MOUNTED. THESE ADDITIONAL MISSIONS WILL ALSO GENERATE A SIGNIFICANT THOUGH UNPREDICTABLE - NUMBER OF ENQUIRIES WHICH WILL RAPIDLY INCREASE THE FOLLOW-UP WORKLOAD,+ THE SPOKESMAN SAID.

THE SPOKESMAN FURTHER EXPLAINED THAT IT WAS ALSO NECESSARY TO MAKE LOCAL COMPANIES MORE AWARE OF INVESTMENT OPPORTUNITIES AND TO ENCOURAGE THEM TO INVEST IN NEW PROJECTS, OFTEN IN CO-OPERATION WITH OVERSEAS COMPANIES, IN ORDER TO STRENGTHEN HONG KONG'S INDUSTRIAL BASE, RAISE THE STANDARD OF TECHNOLOGY AND FURTHER DIVERSIFY LOCAL INDUSTRY.

HE ADDED: +WORK ALREADY DONE IN THIS DIRECTION HAS RESULTED IN SOME EXCELLENT JOINT VENTURE ARRANGEMENTS BUT THE DEPARTMENT BELIEVES THAT MORE EMPHASIS NEEDS TO BE GIVEN TO IT THAN PRESENT STAFF RESOURCES ALLON,+

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