XN000022-1978-03-29 — Page 14

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WEDNESDAY, MARCH 29, 1978

MR. WU ALSO DISAGREED WITH THE IDEA THAT INDUSTRY SHOULD BE TAKING CARE OF ITSELF AND NOT ACCEPT ASSISTANCE OR HIDDEN SUBSIDY OF ANY NATURE.

+ STRESS THAT WE MUST BE PRAGMATIC. AS IN MANY INSTANCES, CERTAIN TYPES OF CONCERTED EFFORTS COULD ONLY BE MARSHALLED WITH OFFICIAL PARTICIPATION, GIVEN THE MANY SMALL INDUSTRIAL UNDERTAKINGS E HAVE, AND THE INDIVIDUALISTIC NATURE OF OUR ENTREPRENEURS THAT ARE BOTH OUR STRENGTH AND WEAKNESS.

+FOR EXAMPLE, OUR TEXTILES AND GARMENT INDUSTRY'S GROWTH AND DEVELOPMENT IN THE PAST WAS DUE IN NO SMALL MEASURE TO THE EXCELLENT PERFORMANCE OF THE DEPARTMENT OF TRADE, INDUSTRY AND CUSTOMS IN THE NEGOTIATIONS FOR, AND SUBSEQUENT IMPLEMENTATION OF. THE QUOTAS THAT HAVE TAKEN A CONSIDERABLE PART OF THE RESOURCES OF THE DEPARTMENT, WORKING IN CLOSE CONCERT WITH INDUSTRY.+ MR. MU SAID.

MR. WU SUGGESTED THAT SUCH CO-OPERATION AND ASSISTANCE BE +INITIATED, ORGANISED OR EXPANDED WITH RELEVANT AND APPROPRIATE GOVERNMENT DEPARTMENTS OR PUBLIC INSTITUTIONS IN MATTERS RELATING TO ALL ASPECTS OF TRADE. MANPOWER UTILISATION AND AMENITIES, APPLIED RESEARCH AND DEVELOPMENT, TECHNICAL ASSISTANCE AND TRANSFER, AS HAVE ALREADY BEEN STARTED WITH THE FORMATION OF THE TRADE DEVELOPMENT COUNCIL AND THE HONG KONG TRAINING COUNCIL.+.

+GOVERNMENT SPONSORSHIP OF, AND CONTRIBUTION IN THE SERVICES AND ACTIVITIES WILL HAVE A CATALYTIC EFFECT ER INGING ABOUT VERY REWARDING RESULTS.

+THESE ARE FULLY PROVEN APPROACHES AND I SUGGEST THAT THE FINANCIAL SECRETARY INVEST A MINUTE FRACTION OF OUR RECORD #1 BILLION SURPLUS TO THIS USE FOR FICL. DIVIDENDS THAT ARE TO COME BY WAY OF INCREASED PROFITS HILL REVENUE BEFORE LONG,+ MR. WU SAID.

ON THE MANUFACTURING INDUSTRIES, MR. LU AGREED WITH THE FINANCIAL SECRETARY THAT THE REDUCED DEMAND FROM THE EEC MARKETS MIGHT HAVE BEEN A FACTOR CONFRUITE.C INDUSTRIALISTS AND INHIBITING THE GROWTH, BUT FELT THAT THE MAIN FACTORS WERE INCREASES IN RENTS, RATES AND INDUSTRIAL LAND PRICES TO AS MUCH AS 50 PER CENT, TOGETHER WITH INCREASES IN WAGES TO AS HIGH AS 30 PER CENT, PLUS INCREASES IN MATERIAL COSTS AND BURDENS DUE TO NEWLY INTRODUCED LABOUR LEGISLATION,

ON THE ISSUE OF MATER,

TO WARNED AGAINST RAISING WATER CHARGES AS IT WAS +UTINELY AND UNCALLED FOR.++IT WILL GREATLY ENDANGER OUR SUPPORTING INDUSTRIES IN DYEING AND FINISHING AND PETAL FINIGAIS,+ YE SAID,

AUFACTURING

LRT A SECTOR THAT

+I ALSO CONSIDER THAT HE THE COMMUNITY'S WELL-BEING DEPENDS SC MUCH ON THE VIA ILITY OF C

INDUSTRIES, ANY MEASURE THAT TAT BATE I CAN PREJUDICE THE WHOLE SHOULS ST 13 TAKE! AS IN THE LONG RANGE VIEW, THE COMMUNITY WOULD I TUR 15 SFIT FROM ANY SUCCESS WE HAVE IN OUR EXPORT INDUSTRIES,+ ·R. „U SAID.

/HR. TO