XN000022-1978-04-16 — Page 2

SUNDAY, APRIL 16, 1978

MISSIONS TO ATTRACT INDUSTRIAL INVESTMENT FROM OVERSEAS

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THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT IS ORGANISING AN INDUSTRIAL INVESTMENT PROMOTION MISSION TO EUROPE IN APRIL AND WILL PARTICIPATE IN ANOTHER MISSION ORGANISED BY THE HONG KONG GENERAL CHAMBER OF COMMERCE TO THE UNITED STATES IN JUNE THIS YEAR TO ATTRACT MORE INDUSTRIAL INVESTMENTS TO HONG KONG,

THE MISSION TO EUROPE WILL BE HEADED BY MR. ROY PORTER, DEPUTY COMMISSIONER OF INDUSTRY AND WILL VISIT BRITAIN, THE NETHERLANDS AND THE F.R. OF GERMANY FROM APRIL 19 TO MAY 23, 1978.

AS PART OF THE MISSION PROGRAMME, THE MISSION WILL HOLD THREE INVESTMENT SEMINARS, TWO IN BRITAIN AND ONE IN. THE NETHERLANDS. MR. CYRIL BERNARD, INDUSTRIAL PROMOTION PROJECT OFFICER, IS NOW

IN EUROPE TO MAKE PREPARATORY ARRANGEMENTS.

THE MISSION TO THE UNITED STATES WILL BE HEADED BY MR. HERBERT MINICH, REPRESENTATIVE OF THE HONG KONG GENERAL CHAMBER OF COMMERCE

IN THE UNITED STATES. HE WILL BE ASSISTED BY MR. PAULUS CHAN INDUSTRIAL PROMOTION PROJECT OFFICER OF THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT.

THE MISSION WILL VISIT THE NEW YORK AND PHILADELPHIA AREAS BETWEEN JUNE 5 AND EARLY JULY.

A SPOKESMAN FOR THE INDUSTRIAL PROMOTION BRANCH OF THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT SAID, THE MISSIONS HAVE BEEN TIMED TO COINCIDE WITH INDUSTRIAL EXHIBITIONS IN THESE COUNTRIES WHICH SHOULD PROVIDE MANY OPPORTUNITIES FOR US TO DISCUSS WITH TOP EXECUTIVES THE SPECIFIC ADVANTAGES WHICH WOULD ACCRUE TO THEIR COMPANIES FROM MANUFACTURING IN HONG KONG.

+THE PROMOTION WILL CONCENTRATE LARGELY ON COMPANIES IN THE LIGHT TO MEDIUM ENGINEERING FIELDS OR IN ELECTRONICS,+ HE SAID.

THESE WILL BE THE DEPARTMENT'S SEVENTH MISSION TO EUROPE AND THE FIFTH IN A SERIES OF MISSIONS TO THE UNITED STATES WHICH HAVE EITHER BEEN CONDUCTED BY THE DEPARTMENT ON ITS OWN OR IN CONJUNCTION WITH THE GENERAL CHAMBER.

THE DEPARTMENT ALSO HOPES TO SEND MISSIONS TO JAPAN AND AUSTRALIA LATER THIS YEAR.

LAST YEAR, THE INDUSTRIAL PROMOTION BRANCH PROVIDED INFORMATION TO 355 COMPANIES SHOWING AN INTEREST IN INVESTING IN. HONG KONG. OF THESE, 17 COMPANIES, WITH A TOTAL CAPITAL INVESTMENT OF ABOUT HK$57 MILLION, HAVE SINCE SET UP OPERATIONS IN HONG KONG OR ARE IN THE PROCESS OF DOING SO.

THE SPOKESMAN POINTED OUT THAT SOME COMPANIES PREFER TO SUBCONTRACT THE MANUFACTURE OF COMPONENTS OR PRODUCT LINES IN HONG KONG.

/THIS TYPE OF .....