XN000022-1986-03-26 — Page 8

WEDNESDAY, MARCH 26, 1936

CALL TO INTERVENE POSITIVELY'

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THE GOVERNMENT SHOULD STOP USING THE TERM +POSITIVE NON- INTERVENTION+, THE HON ALLEN LEE SUGGESTED IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) DURING THE BUDGET DEBATE,

MR LEE SAID IT OCCURRED TO HIM THAT ANY GOVERNMENT MUST INTERVENE FOR POLITICAL, SOCIAL OR ECONOMIC REASONS AND HE CITED EXAMPLES HAPPENING IN HONG KONG IN THE BANKING SECTOR, SUCH AS THE ACQUISITION OF THE HANG LUNG BANK AND THE OVERSEAS TRUST BANK, AND MORE RECENTLY IN THE CASE OF KA WAH BANK.

+1 CANNOT IMAGINE USING ANY OTHER TERM BUT INTERVENTION DIRECTLY AND TOTALLY, HE SAID.

+1 AM NOT AGAINST THESE INTERVENTIONS, MR LEE SAID, +I HAVE MY DOUBTS IN THE WAY THESE MATTERS ARE HANDLED, AND I AM AGAINST GOVERNMENT USING POSITIVE NON-INTERVENTION' TO SHRUG OFF ITS OTHER RESPONSIBILITIES.+

MR LEE QUESTIONED HOW MUCH THE GOVERNMENT HAD SPENT IN TERMS OF MONEY AND MANPOWER ON INDUSTRY AND INDUSTRIAL DEVELOPMENT.

THEREFORE, I URGE

+1 AM VERY CONCERNED ABOUT OUR ECONOMY. THE GOVERNMENT TO INTERVENE POSITIVELY IN OUR INDUSTRIAL DEVELOPMENT,+ HE SAID.

HE SUGGESTED THAT THE INDUSTRY DEVELOPMENT BOARD SHOULD HAVE AN UNOFFICIAL CHAIRMAN TO LOOK INTO A WIDE SCOPE OF INDUSTRIAL DEVELOPMENT IN THE LONG TERM.

+IT IS ONLY THROUGH THIS TYPE OF ACTION THAT WE WILL BE ABLE TO LOOK INTO THE 1990S AND CONTINUE TO COMPETE WITH OUR MAJOR COMPETITORS IN THIS PART OF THE WORLD, + HE SAID.

+ALLOW ME TO PLEAD THAT GOVERNMENT SHOULD HAVE A HEART BIG ENOUGH TO REMEDY THE MISTAKES OF THE PAST THUS ENABLING US TO HAVE A BETTER CHANCE TO LOOK FORWARD TO A BRIGHTER FUTURE,+ HE SAID.

MR LEE ALSO SAID HE WAS DISAPPOINTED TO NOTICE THAT PERSONNEL INVOLVED IN INDUSTRIAL INVESTMENT PROMOTION IN OVERSEAS OFFICES WERE SO FEW.

+WE MUST STRENGTHEN OUR INDUSTRIAL INVESTMENT PROMOTION ACTIVITIES, STRESSING THE NEED TO UPGRADE OUR PRODUCTS AND TECHNOLOGY TRANSFER, HE EMPHASISED,

HE CALLED ON THE GOVERNMENT TO SPEND MONEY WISELY IN THESE AREAS WHICH REPRESENTED A LONG-TERM FUTURE FOR HONG KONG.

MR LEE