XN000022-1986-11-26 — Page 28

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WEDNESDAY, NOVEMBER 26, 1986

REFERRING TO THE SUGGESTION THAT INDUSTRIAL INVESTMENT PROMOTION SHOULD BE TRANSFERRED FROM THE INDUSTRY DEPARTMENT TO THE TRADE DEVELOPMENT COUNCIL. MR WE BB-JOHNSON POINTED OUT THAT THE COUNCIL'S ROLE WAS TRADE PROMOTION AND THAT IT COULD NOT TAKE ON INDUSTRIAL INVESTMENT PROMOTION WITHOUT SPECIALIST STAFF AND ADDITIONAL RESOURCES.

THERE WERE ADDITIONAL REASONS FOR PLACING THE PRINCIPAL RESPONSIBILITY FOR THIS WORK WITH THE GOVERNMENT.

+FIRSTLY, THIS VIEW WAS REACHED BY THE ADVISORY COMMITTEE ON DIVERSIFICATION AFTER VERY THOROUGH EXAMINATION AND ENDORSED BY THE INDUSTRY DEVELOPMENT BOARD AS RECENTLY AS LAST MONTH,+ HE SAID.

+SECONDLY, INDUSTRIAL INVESTMENT PROMOTION WORK IS DIFFERENT IN MANY RESPECTS FROM TRADE PROMOTION WORK. EXPERIENCE HAS SHOWN THAT THE APPLICATION OF ENGINEERING, FINANCIAL AND OTHER SKILLS IS REQUIRED TO ANSWER QUESTIONS FROM POTENTIAL INVESTORS AND TO PERSUADE THEM TO CONSIDER HONG KONG.

+THIRDLY, THERE ARE BENEFITS IN RETAINING HONG KONG'S SPOKESMEN IN THIS FIELD WITHIN THE GOVERNMENT DEPARTMENT WHICH PROVIDES THE INDUSTRIAL SUPPORT AND TECHNICAL BACK-UP SERVICES IN HONG KONG.+

REFERRING TO A CALL FOR GREATER CO-ORDINATION OF THE WORK OF ADVISORY COMMITTEES AND STATUTORY BODIES IN TRADE AND INDUSTRY, M2 WEBB-JOHNSON SAID THIS CO-ORDINATION WAS ENSURED BY THE SE BODIES HAVING A DEGREE OF COMMON MEMBERSHIP AND BY THE SECRETARY FOR TRADE AND INDUSTRY BEING A MEMBER OF, OR REPRESENTED ON, THEM ALL.

RISING EXPORTS GIVE ECONOMY HEALTHY BOOST

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THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, PAINTED A BRIGHT PICTURE OF THE HONG KONG ECONOMY TODAY (WEDNESDAY), NOTING THAT THE CURRENT EXPORT PERFORMANCE IS PROVING TO BE MUCH BETTER THAN APPEARED LIKELY EARLY IN THE YEAR.

+WE HAVE WITNESSED SUBSTANTIAL GROWTH RATES FOR DOMESTIC EXPORTS AS WELL AS FOR RE-EXPORTS IN THE THIRD QUARTER,+ HE SAID

CIL DURING THE RESUMED DE BATE ON THE IN THE LEGISLATIV GOVERNOR'S ADDRESS.

/MR JACOBS