XN000022-1984-03-05 — Page 2

-ONDAY, MARCH E

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GOVERNOR AFFIRMS FAITH IN HK INDUSTRIAL ISTS

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THE GOVERNOR, SIR EDWARD YOUDE, SAID TODAY (MONDAY) THAT HE WAS CONFIDENT THAT LOCAL MANUFACTURERS WOULD CONTINUE TO PLAN ENERGETICALLY TO MEET THE DEMANDS ON INDUSTRY IN ADAPTING TO THE USE OF MORE SOPHISTICATED TECHNOLOGY, AND IN WORK ING FOR THE CONTINUING PROSPERITY OF HONG KONG.

INDUSTRIALISTS' FAITH IN THE FUTURE IS ESSENTIAL NOW BECAUSE THE HEALTH OF THE MANUFACTURING INDUSTRY TOMORROW MUST NECESSARILY DEPEND ON INVESTMENTS MADE TODAY, SIR EDWARD SAID.

SPEAKING AT THE OPENING CEREMONY OF THE HONG KONG CHINESE MANUFACTURERS' ASSOCIATION'S NEW HEADQUARTERS BUILDING IN CENTRAL, SIR EDWARD SAID, THIS FINE NEW OFFICE BUILDING WHICH OPENS TODAY VIVIDLY DEMONSTRATES THE CMA'S FIRM CONFIDENCE

IN DUP FUTURE. WELCOME THIS KIND OF COMMITMENT.+

THE CMA'S MEMBERSHIP OF 2 800 ENTREPRENEURS REPRESENTED THE FULL RANGE OF MANUFACTURING INDUSTRY, HE SAID.

EXPLAINING THAT MANUFACTURING INDUSTRY WAS THE BACK BONE OF THE HONG KONG ECONOMY, THE GOVERNOR SAID THE GOVERNMENT'S ECONOMIC POLICY OF MINIMUM INTERFERENCE WITH THE WORKINGS OF THE MARKET PLACE WAS WELL-KNOWN.

+BUT AN ESSENTIAL, THOUGH MUCH LESS WELL RECOGNISED, ELEMENT OF THIS POLICY IS THE PROVISION BY GOVERNMENT OF AN EFFICIENT INFRASTRUCTURE IN WHICH TRADE AND INDUSTRY CAN FLOURISH.

+ IN PURSUING THAT END, THE GOVERNMENT REGARDS CONSULTATION WITH SUCH INDUSTRIAL ORGANISATIONS AS THE CMA AS OF GREAT

IMPORTANCE,+ HE ADDED.

SIR EDWARD NOTED THAT THE CMA REGULARLY PROVIDED MEMBERS FOR CONSULTATIVE BODIES APPOINTED BY GOVERNMENT, AND ONE OF THE MOST IMPORTANT OF THESE HAD BEEN THE ADVISORY COMMITTEE ON DIVERS IF ICATION. THE COMMITTEE HAD BEEN APPOINTED IN 1977 TO DETERMINE WHETHER THE MODIFICATION OF EXISTING POLICIES OR THE INTRODUCTION OF NEW POLICIES MIGHT FACILITATE THE PROCESS OF DIVERSIFICATION OF THE ECONOMY, WITH PARTICULAR REFERENCE TO THE MANUFACTURING SECTOR.

+ THE COMMITTEE PUT FORWARD 47 RECOMMENDATIONS. ALL HAD FUNDAMENTAL AND FAR-REACHING IMPLICATIONS FOR THE ECONOMY. ALL EXCEPT ONE WERE ACCEPTED BY THE GOVERNMENT. OF THESE 35 HAVE ALREADY BEEN IMPLEMENTED. ACTION IS BEING TAKEN ON THE OTHER 11, SIR EDWARD SAID.

/REVIEWING THE