SUNDAY, APRIL 16, 1978
+THIS TYPE OF ACTIVITY IS JUST AS WELCOME AS DIRECT INVESTMENT IN SOME RESPECTS BECAUSE IT BRINGS NOT ONLY NEW BUSINESS TO HONG KONG BUT IT ALSO FREQUENTLY INVOLVES THE TRANSFER OF TECHNOLOGY- WHICH IS ALSO ONE OF THE OBJECTIVES OF INDUSTRIAL INVESTMENT PROMOTION+.
AS WELL AS PROVIDING ASSISTANCE TO OVERSEAS COMPANIES, THE INDUSTRIAL PROMOTION BRANCH ALSO PROVIDES A SERVICE TO LOCAL COMPANIES INTERESTED IN JOINT VENTURES AND ENTERING INTO LICENSING ARRANGEMENT WITH OVERSEAS FIRMS.
AT THE END OF 1977, THERE WERE AT LEAST 339 FACTORIES IN HONG KONG EITHER FULLY OR PARTLY OWNED BY OVERSEAS INTERESTS, AN INCREASE OF 17 PER CENT WHEN COMPARED WITH THE PREVIOUS YEAR. THE TOTAL DIRECT INVESTMENT INVOLVED CLIMBED TO ALMOST $2,000 MILLION FROM $1,800 MILLION IN 1976.
THESE FACTORIES EMPLOYED ABOUT 75,000 WORKERS' OR 9.8 PER CENT OF THE TOTAL WORKFORCE IN MANUFACTURING INDUSTRY.
THE UNITED STATES IS THE LARGEST SINGLE INVESTOR IN HONG KONG WITH HK$920.4 MILLION WHICH ACCOUNTS FOR 46.5 PER CENT OF TOTAL OVERSEAS INDUSTRIAL INVESTMENT. IT IS FOLLOWED BY JAPAN, BRITAIN AND AUSTRALIA.
ACCORDING TO THE SPOKESMAN, THE PRINCIPAL INDUSTRIES INVOLVED ARE ELECTRONICS AND TEXTILES.
TRUNK SEWER FOR TUEN MUN NEW TOWN
******
THE PUBLIC WORKS DEPARTMENT WILL SHORTLY LAY A TRUNK SEWER IN THE RECLAIMED AREA OF CASTLE PEAK BAY TO SERVE THE SOUTHEASTERN PART OF TUEN MUN NEW TOWN.
MR. K.K. TANG, ACTING CHEIF ENGINEER OF THE TUEN MUN NEW TOWN DEVELOPMENT OFFICE, SAID TODAY THAT THE TRUNK SEWER WAS DESIGNED TO CARRY THE SEWAGE PRODUCED BY THREE PUBLIC HOUSING ESTATES NOW UNDER CONSTRUCTION IN SAM SHING HUI AND ON THE RECLAIMED LAND AT CASTLE PEAK BAY.
IT WOULD ALSO CARRY SEWAGE FROM INDUSTRIAL AND PRIVATE DEVELOPMENT AREAS IN THE SOUTHEASTERN PART OF TUEN MUN NEW TOWN.
WORK WOULD BEGIN SOME TIME IN JUNE AND WOULD TAKE ABOUT 12 MONTHS TO COMPLETE.
MR. TANG SAID THAT THE TOTAL LENGTH OF THE SEWER. WHICH FORMS THE MAJOR PART OF THE SEWERAGE NETWORK SERVING A POPULATION OF 140,000, WOULD BE ABOUT 1,500 METRES.
IT WOULD RUN FROM SAM SHING HUI ALONG THE TUEN MUN ROAD EXTENSION TO JOIN A TRUNK SEWER NOW UNDER CONSTRUCTION ON THE WEST SIDE OF TUEN MUN.
/THE WORK
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