XN000022-1982-11-10 — Page 4

3

WEDNESDAY, NOVEMBER 10, 1982

+WHILE THEREFORE REMAINING PRUDENTLY ON OUR GUARD, WE SHALL CONTINUE CALMLY WITH OUR TESTED ECONOMIC POLICIES. THERE IS NO NEED FOR CHANGE IN OUR BASIC BELIEF IN NON-INTERVENTIONISM AND IN OUR RELIANCE ON FREE MARKETS. THE GOVERNMENT WILL CARRY ON STEADILY ON THE COURSE THAT HAS LONG BEEN SET, MR BREMRIDGE STATED.

HE ALSO SAID THAT A PROPOSAL BY AN UNOFFICIAL MEMBER TO ABOLISH THE INTEREST TAX ON HONG KONG DOLLAR DEPOSITS +WILL CERTAINLY NOT BE OVERLOOKED+.

SUMMING UP HIS SPEECH, MR BREMRIDGE STATED, LET ME END BY SAYING THAT DESPITE OUR PRÉSENT LOCAL DIFFICULTIES, THE FUTURE LOOKS PROSPEROUS AND STABLE PROVIDED THAT GOVERNMENT'S ECONOMIC, FINANCIAL AND FISCAL POLICIES CONTINUE TO REFLECT PRAGMATIC PRUDENCE AND THE LESSONS WE HAVE LEARNED THE HARD WAY.

+SIR, OUR POLICIES WILL DO SO.+

INFRASTRUCTURE SUPPORT FOR INDUSTRY OUTLINED

*****

THE SECRETARY FOR TRADE AND INDUSTRY, MR BILL DORWARD SAID TODAY THAT THE GOVERNMENT'S INDUSTRIAL DEVELOPMENT POLICY ACTIVITIES AND PLANS SHOWED THAT SUSTAINED EFFORTS WERE BEING MADE TO PROVIDE ADEQUATE GOVERNMENT OR GOVERNMENT-RELATED INFRASTRUCTURE TO ASSIST INDUSTRY.

HE WAS RESPONDING TO REMARKS REGARDING SUPPORT TO INDUSTRY RAISED BY UNOFFICIAL LEGISLATIVE COUNCILLORS AT THE RESUMED DEBATE ON THE GOVERNOR'S POLICY SPEECH.

REFERRING TO COMMENTS BY THE HON FRANCIS TIEN AND THE HON ALLEN LEE THAT THERE WAS A PRESSING NEED TO IMPROVE ACCESS TO MODERN TECHNOLOGY FROM ABROAD, MR DORWARD DISCLOSED THAT FUNDS HAD JUST BEEN PROVIDED FOR A TECHNOLOGY TRANSFER STUDY TO BE CONDUCTED BY THE HONG KONG PRODUCTIVITY COUNCIL.

+ITS PURPOSE IS TO ASSESS THE REQUIREMENTS OF INDUSTRY IN THIS RESPECT BY MEANS OF INTENSIVE STUDY OF SELECTED SEGMENTS. IT WILL SEEK TO IDENTIFY THE SERVICES AND FACILITIES CURRENTLY AVAILABLE AND CONSIDER HOW AND TO WHAT EXTENT THEY SHOULD BE INCREASED.

+A CONSEQUENCE OF THE STUDY MAY BE THE ESTABLISHMENT OF A TECHNOLOGY TRANSFER AGENCY, HE ADDED.

THE HONG KONG PRODUCTIVITY COUNCIL IS EXPANDING ITS SERVICES TO INDUSTRY IN OTHER WAYS. A MICRO-PROCESSOR DEVELOPMENT LABORATORY HAS BEEN ESTABLISHED AND IS PROVIDING FACILITIES FOR PRODUCT DEVELOPMENT AS WELL AS CONSULTANCY SERVICES TO THE INDUSTRY.

A TECHNO-ECONOMIC STUDY ON THE ELECTRONICS INDUSTRY IS EXPECTED TO BE COMPLETED BY THE HONG KONG PRODUCTIVITY COUNCIL IN JANUARY 1983 TO PROVIDE GUIDANCE ON FUTURE DEVELOPMENT NEEDS AND RESOURCES. A SIMILAR STUDY BY THE CENTRE HAS JUST BEEN COMPLETED ON THE METAL AND LIGHT ENGINEERING INDUSTRIES AND IS UNDER CONSIDERATION BY THE INDUSTRIAL DEVELOPMENT BOARD.

/ON INDUSTRIAL