FRIDAY, MARCH 30, 1984
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HE CITED THAT THE OUTBOARD MARINE PLANT, MAKING EVINRUDE AND JOHNSON OUTBOARD ENGINES, AND THE EUROASIA SHIPYARDS NOW CONSTRUCTING, REPAIRING, AND FITTING OUT OFFSHORE OIL RIGS, ARE EXAMPLES OF ENGINEERING INDUSTRIES WHICH HAVE SUCCESSFULLY ESTABLISHED THEMSELVES IN HONG KONG.
+ BOTH THESE OPERATIONS ARE LOCATED ON LAND OBTAINED FROM THE HONG KONG GOVERNMENT. ONE OF THE FACTORS WORKING IN OUR FAVOUR HERE IS THE HIGH COST OF FREIGHT FOR THE DELIVERY OF LARGE FABRICATED METAL EQUIPMENT AND PRODUCTS FROM EUROPE AND THE UNITED STATES TO MARKETS IN THE FAR EAST.
+OUR ABILITIES IN THIS FIELD ALSO ENABLE US TO COOPERATE EFFECTIVELY WITH OVERSEAS COMPANIES IN THE FABRICATION AND ASSEMBLY OF THEIR EQUIPMENTS ENABLING THEM TO OVERCOME THEIR DISADVANTAGES OF HIGH LABOUR COSTS AND ONEROUS OCEAN FREIGHT CHARGES. WE ARE IN FACT NOW DEALING WITH A NUMBER OF SUCH PROPOSALS,+ MAJOR BERNARD SAID.
OTHER INDUSTRIES WHICH HAVE SHOWN GOOD POSSIBILITIES FOR EXPANSION AND FOR WHICH THE INDUSTRY DEPARTMENT IS NOW ACTIVELY ASSISTING IN THE DEVELOPMENT OF NEW INDUSTRIAL PROJECTS ARE PRINTING AND PUBLISHING, DOMESTIC ELECTRICAL APPLIANCES, FOOD AND DRINK PACKAGING AND PROCESSING,
THERE ARE ALSO GOOD PROSPECTS FOR PHARMACEUTICALS AND SPECIALTY CHEMICALS, WHILE OPPORTUNITIES ARE BEGINNING TO EMERGE FOR THE SUPPLY OF MACHINERY EQUIPMENT AND VESSELS TO THE OFFSHORE OIL INDUSTRY.
+WE ARE ALSO AWARE THAT THERE ARE SOME LINKAGE AND SUPPORT INDUSTRIES WHICH WE LACK AND WHICH ARE REQUIRED TO HELP US DEVELOP OTHER SECTORS OF INDUSTRY. FOR EXAMPLE, WE STILL DO NOT POSSESS ANY SOPHISTICATED HIGH QUALITY FOUNDRIES AND STILL HAVE TO IMPORT CASTINGS FROM OVERSEAS,
+ONE SUCCESSFUL EXAMPLE OF A SUPPORT INDUSTRY PRODUCING BASIC MANUFACTURERS SUPPLIES, HOWEVER, IS THE DOW CHEMICAL PLANT ON TSING YI WHICH ENSURES THAT WE ARE SUPPLIED WITH THE BASIC RAW MATERIALS AND TECHNOLOGICAL SUPPORT FOR OUR PLASTICS INDUSTRY AT COMPETITIVE PRICES.
+WE WELCOME OTHER PROJECTS OF THIS NATURE TO HELP US ENSURE THE RELIABILITY OF SUPPLY OF MATERIALS AND COMPONENTS AND HELP REDUCE COSTS OF PRODUCTION, HE SAID.
BESIDE THOSE WELL-KNOWN FACTORS WHICH MAKE HONG KONG AN AL PLACE AS AN OFF-SHORE MANUFACTURING BASE, MAJOR BERNARD REMINDED OVERSEAS INDUSTRIAL ISTS NOT TO NEGLECT THE POTENTIAL OF THE HONG KONG MARKET.
+A RECENT SURVEY OF OVERSEAS COMPANIES WITH INVESTMENTS IN HONG KONG INDUSTRY SHOWED THAT LOCAL SALES FORM THE LARGEST SINGLE SECTOR BY VALUE AND ACCOUNT FOR A THIRD OF THEIR TOTAL
THE SALES. EVEN EXCEEDING THOSE TO OUR LARGEST EXPORT MARKET - UNITED STATES, HE SAID.
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