XN000022-1983-11-29 — Page 2

TUESDAY, NOVEMBER 29, 1983

VALUE OF INDUSTRIAL JOINT EFFORT STRESSED

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HONG KONG INDUSTRIALISTS TOGETHER WITH THEIR OVERSEAS PARTNERS, AND THE GOVERNMENT HAVE AN IMPORTANT PART TO PLAY IN HONG KONG'S INDUSTRIAL DEVELOPMENT, THE ACTING SECRETARY FOR TRADE AND INDUSTRY, MR JOHN YAXLEY SAID TODAY.

INDUSTRY,

HE WAS SPEAKING AT THE OPENING OF THE NEW OFFICE OF THE HONG KONG KWUN TONG INDUSTRIES AND COMMERCE ASSOCIATION AT HUNG TO ROAD, KWUN TONG.

MR YAXLEY SAID THAT MUCH OF THE SUCCESS OF HONG KONG'S MANUFACTURING INDUSTRY HAD BEEN DUE TO THE WILLINGNESS OF ENTREPRENEURS TO INVEST AND RE-INVEST, TO MODERNISE PRODUCTION FACILITIES AND TECHNIQUES, AND TO DIVERSIFY INTO NEW PRODUCTS.

+THIS WILLINGNESS HAS BECOME ALL THE MORE IMPORTANT BECAUSE PRODUCTION TECHNIQUES CAN BECOME OBSOLETE IN A VERY SHORT TIME AND OUR COMPETITORS ARE HARD ON OUR HEELS IN THEIR EFFORTS TO REPLACE HONG KONG AS THE MOST EFFICIENT MANUFACTURING CENTRE IN THE WORLD, HE SAID.

MR YAXLEY SAID THAT THE GOVERNMENT BELIEVED CO-OPERATION BETWEEN HONG KONG MANUFACTURERS AND THEIR OVERSEAS PARTNERS PROVIDES A SHORT-CUT TO ACHIEVING THE OBJECTIVES OF MODERNISING AND DIVERSIFYING HONG HONG'S INDUSTRY.

*TO THIS END, THE DEPARTMENT OF INDUSTRY PROMOTES OVERSEAS INDUSTRIAL INVESTMENT IN HONG KONG IN THE FORM OF WHOLLY-OWNED SUBSIDIARIES, JOINT-VENTURES, AND SUB-CONTRACTING OR LICENSING ARRANGEMENTS SO THAT LOCAL INDUSTRY MAY ACQUIRE THE LATEST TECHNOLOGY IN DESIGN, PRODUCTION AND QUALITY CONTROL.

+AT THE SAME TIME, THE DEPARTMENT ARRANGES FOR MISSIONS OF HONG KONG INDUSTRIALISTS TO GO OVERSEAS. THESE MISSIONS, WHICH PROVIDE OPPORTUNITIES FOR HONG KONG INDUSTRIALISTS TO MEET POTENTIAL PARTNERS AND DISCUSS POSSIBLE MANUFACTURING PROJECTS, AIM TO HELP LOCAL BUSINESSMEN FIND NEW PRODUCTION PROCESSES, AND TO DIVERSIFY AND IMPROVE THE IR TECHNOLOGY THROUGH CO-OPERATION WITH OVERSEAS COMPANIES,+ MR YAXLEY SAID.

A TOTAL OF 30 LOCAL INDUSTRIALISTS PARTICIPATED IN THE INDUSTRIAL PROMOTION MISSIONS ORGANISED BY THE INDUSTRY DEPARTMENT EARLIER THIS YEAR TO THE UNITED STATES, JAPAN, SWEDEN AND GERMANY.

+THEY ALL FOUND THE EXPERIENCE EXTREMELY USEFUL AND THE IR EXPOSURE TO ADVANCED TECHNOLOGY AND PRODUCTION TECHNIQUES PARTICULARLY INVALUABLE. THE DEPARTMENT IS THEREFORE ORGANISING ANOTHER SERIES OF MISSIONS TO VISIT JAPAN, THE U.S. AND THE U.K. EARLY NEXT YEAR. 1 VERY MUCH HOPE THAT MEMBERS OF THIS ASSOCIATION WILL TAKE ADVANTAGE OF THESE OPPORTUNITIES, HE CONCLUDED.

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