XN000022-1979-01-19 — Page 24

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Hong Kong is, of course, a very substantial market in its own

right, and I am grateful for the efforts this Chamber has made to bring

this point home to investors and exporters in Europe and America. They

are beginning to wake up to the opportunities Hong Kong offers to

exporters, and this is very much to Hong Kong's interest.

But people are apt to forget that Hong Kong is also a focal

point within the countries of the Western Pacific Seaboard and Southeast

These constitute one of the most dramatic growth areas in the

world at present.

Asia.

Growth in North America or Europe has been averaging between

2 and 4 per cent a year, whereas in this region it is more like 6 to

11 per cent, and there is every reason to suppose it will continue.

The markets of this region cannot be worked successfully

from London, Frankfurt or New York whether by exporters or financiers.

A base in the area is essential, for management, for stocking, even

for assembly or manufacture.

Many may conclude that for such a base, as well as for keeping

in touch with developments in China, no other city has the advantages

of Hong Kong.

I have constantly said that Hong Kong is the right city in the

right place at the right time. I suggest now is the time to keep on

saying this to every worthwhile investor we meet, and I am sure that

none can say it better or louder or more persistently than the members

of this Chamber.

/Prospects for 1979

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