XN000022-1985-06-03 — Page 2

MONDAY, JUNE 3, 1985

EXTENSION SEEN AS VOTE OF CONFIDENCE

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THE OPENING OF A MAJOR INVESTMENT COMPLEX TODAY (MONDAY) DEMONSTRATED CONFIDENCE IN HONG KONG AS A CENTRE FOR MULTI- NATIONAL BUSINESS ACTIVITIES IN THE REGION, THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, SAID.

SPEAKING AT THE INAUGURATION OF THE EXTENSION TO THE CIBA-GE IGY BUILDING AT KWAI CHUNG, MR HO STRESSED THAT IT WAS GOVERNMENT'S INTENTION TO PROVIDE THE BEST POSSIBLE ENVIRONMENT FOR LOCAL AND INTERNATIONAL BUSINESSES TO CARRY ON MANUFACTURING AND TRADING.

HE SAID THAT HE WAS GLAD THE COMPANY HAD EXPANDED ITS OPERATIONS IN HONG KONG.

*THE NEW FACILITIES WILL ASSIST CIBA-GEIGY TO FURTHER DEVELOP THEIR SERVICES IN THIS REGION.

CIBA-GEIGY SUPPLIES CHEMICALS, DYESTUFFS, PHARMACEUTICALS, PLASTICS AND ADDITIVES FOR USE IN THE TEXTILES, PLASTICS, ELECTRONICS AND CONSTRUCTION INDUSTRIES.

IT HAS ESTABLISHED SOPHISTICATED TECHNICAL SERVICE FACILITIES AND LABORATORIES IN THE TERRITORY AND HAS TRAINED ITS STAFF TO APPLY THE LATEST TECHNOLOGIES, ·

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+OUR RE-EXPORTS TO CHINA HAVE INCREASED MORE THAN SIX-FOLD IN THE PAST FIVE YEARS AND THE SUITABILITY OF HONG KONG AS A LOCATION FOR THE REGIONAL HEADQUARTERS OF ANY MULTI-NATIONAL COMPANY IS UNDISPUTED, SAID MR HO.

+HONG KONG IN PARTICULAR HAS A WEALTH OF KNOWLEDGE AND EXPERIENCE IN TRADING WITH CHINA AND OUR EFFICIENT TRANSPORT AND COMMUNICATIONS INFRASTRUCTURE OFFER UNIQUE ADVANTAGES TO OVERSEAS FIRMS SEEKING TO ESTABLISH BUSINESS CONTACTS OR EXPAND THE IR EXISTING BUSINESS ACTIVITIES WITH THAT ENORMOUS POTENTIAL MARKET, HE ADDED.

+HONG KONG OFFERS GREAT BUSINESS OPPORTUNITIES+ ****

A FUNDAMENTAL SHIFT IN THE CENTRE OF GLOBAL ECONOMIC ACTIVITY, FROM THE ATLANTIC TO THE PACIFIC, IS TAKING PLACE AND IT IS TIME THAT MORE PEOPLE IN EUROPE WOKE UP TO THIS BEFORE IT IS TOO LATE, THE DIRECTOR OF INDUSTRY, MR JOHN YAXLEY, SAID TODAY (MONDAY).

MR YAXLEY MADE THESE REMARKS WHEN HE ADDRESSED A SEMINAR HOSTED BY THE HONG KONG AND SHANGHAI BANKING CORPORATION IN LONDON DURING HIS INDUSTRIAL INVESTMENT PROMOTION MISSION TO THE UNITED KINGDOM.

/NOTING THAT