XN000022-1984-03-05 — Page 17

N

"In pursuing that end, the Goverment regards consultation with such industrial organisations as the CMA as of great importance. The CMA has regularly provided members for consultative bodies appointed by Government. One of the most important of these in recent years has been the Advisory Committee on Diversification, The Committee was appointed in 1977 in recognition of the need to broaden Hong Kong's industrial base, to determine whether, with particular reference to the manufacturing sector, the modification of existing policies or the introduction of new policies might facilitate the process of diversification of the economy.

The Committee put forward 47 recommendations. All had fundamental and far-reaching implications for the economy.

All except one were accepted by the Govemment. Of these, 35 have already been implemented. Action is being taken on the other 11.

"It is fitting on an occasion like this to review the progress made in pursuit of those recommendations. Industrial investment promotion involves alerting overseas industrialists to the exceptional opportunities which Hong Kong offers as a manufacturing base. The Government, through the Industry Department, responded promptly to the Committee's recommendations by setting up in 1982 four overseas industrial promotion offices in Lendon, Tokyo, San Francisco and Stuttgart. These offices have been working hard to encourage overseas businessmen to set up manufacturing facilitios in Hong Kong, or to enter inte licensing or joint venture arrangements with local businessmen to manufacture their products here. Judging from the number of foreign manufacturers who have been attracted to Hong Kong or who have expanded their operations, this initiative has paid good dividends. These overseas offices are backed up by the One-Stop Unit in the Industry Department, which provides a focal point where all queries from beth overseas and local businessmen on industrial activities can be answered. In 1983, the Unit handled some 500 queries, which indicates the enocuraging level of interest in what Hong Kong has to offer. These promotional activities are aimed not only at attracting new investment for its own sake: they also seek to broaden our industrial base by attracting to Hong Kong new technologies and improved techniques.

"The Advisory