XN000022-1986-06-05 — Page 9

THURSDAY, JUNE 5, 1986

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CALL FOR MORE FRENCH INDUSTRIAL INVESTMENT IN HK

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THE DEPUTY DIRECTOR OF INDUSTRY, MR TONY EASON, TODAY (THURSDAY) URGED MORE FRENCH PARTICIPATION IN HONG YONG C MANUFACTURING INDUSTRY.

MAKING THE APPEAL AT A SEMINAR IN LYON ORGANISED BY BANQUE NATIONALE DE PARIS AND THE LYON CHAMBER OF COMMERCE. MR EASON SAID THERE HAD ONLY BEEN VERY LIMITED FRENCH INTERESTS SO FAR IN MANUFACTURING INDUSTRIES IN HONG KONG.

+APART FROM ONE WHOLLY-OWNED GARMENT FACTORY AND A 50 PER CENT SHARE IN THE HONG KONG OXYGEN COMPANY, IT APPEARS THAT THERE ARE ONLY SMALL SHARES IN TWO OR THREE OTHER COMPANIES.

+ IT IS NOTABLE, HOWEVER, THAT FRANCE IS WELL REPRESENTED IN TRADE, CONSTRUCTION, FINANCE AND OTHER SECTORS OF THE ECONOMY.+

MR EASON SAID HE HOPED THAT RECENT CONTACTS BETWEEN HONG KONG AND MANUFACTURERS IN FRANCE WOULD LEAD TO ENTERPRISES OF MUTUAL BENEFIT.

AFTER POINTING OUT ALL THE FAVOURABLE INVESTMENT ENVIRONMENTS IN HONG KONG, MR EASON SAID: +IN A WORD, HONG KONG IS ONE OF THE EASIEST PLACES IN THE WORLD TO SET UP AND RUN A BUSINESS.

+ IN ADDITION TO THESE LOCAL FACTORS, REGIONAL CONSIDERATIONS ALSO CONTRIBUTE TO HONG KONG'S ATTRACTION AS A MANUFACTURING AND BUSINESS LOCATION.

+ HONG KONG IS AT THE CENTRE OF THE FASTEST GROWTH REGION ON EARTH. IT IS UNIQUELY SITUATED TO SERVE BOTH THE REGION AND CHINA, IN A WAY THAT NOWHERE IS,+ MR EASON SAID.

DURING THE YEARS 1970 TO 1982 AVERAGE ANNUAL GDP GROWTH WAS 3 PER CENT IN THE INDUSTRIALISED ECONOMIES, 3 PER CENT IN SUB- SAHARAN AFRICA, 4 PER CENT IN SOUTH ASIA, AND 5 PER CENT IN LATIN AMERICA.

IN EAST ASIA, INCLUDING HONG KONG, INDONESIA, SOUTH KOREA, TAIWAN, MALAYSIA, THE PHILIPPINES, SINGAPORE AND THAILAND THE RATE WAS 8 PER CENT.

+THIS TREND SEEMS LIKELY TO CONTINUE IN THE FORESEEABLE FUTURE AND, IF ANY THING, TO BECOME MORE PRONOUNCED, PARTICULARLY AS CHINA RÉACHES FOR HER STATED DEVELOPMENT GOALS.

+THE OPPORTUNITIES OFFERED BY THE REGION AND HONG KONG AT ITS CENTRE HAVE ALREADY BEEN RECOGNISED BY MANY IN THE TRADING WORLD.

+MANY OVERSEAS COMPANIES OF MAJOR STATES AND REPUTE ARE NOW MANUFACTURING IN HONG KONG, ALL HAVE SUCCESSFUL OPERATIONS AND MANY OF THEM ARE EXPANDING,+ MR EASON SAID.

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