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WEDNESDAY, JANUARY 14, 1987
HE POINTED OUT THAT IF THE SITUATION DID NOT CHANGE, THE ECONOMY OF HONG KONG WOULD CONTINUE TO DEPEND ON THE PERFORMANCE OF DOMESTIC EXPORTS AND ECONOMIC GROWTH WOULD BE DETERMINED BY THE DEMANDS OF OVERSEAS MARKETS, MEANING THAT HONG KONG WOULD CONSTANTLY HAVE TO COMPETE FOR THESE MARKETS.
+HOWEVER, AS WE ALL KNOW, WE ARE GRADUALLY LOSING OUR ADVANTAGEOUS POSITION BOTH TO OUR COMPETITORS IN THE ASIAN REGION AND IN TERMS OF PRODUCTION COST, FOUNDATION FOR SCIENTIFIC RESEARCH AND GOVERNMENT ASSISTANCE, LEADING HONG KONG TO AN INCREASINGLY DIFFICULT SITUATION,+ HE SAID.
MR HO SAID THAT NOW WAS THE TIME TO REVIEW EXISTING POLICY ON INDUSTRY.
HE FELT THE GOVERNMENT SHOULD ANNOUNCE WHAT MEASURES HAD BEEN TAKEN OVER THE YEARS AND APPRAISE THE EFFECTS OF THOSE MEASURES TO SEE WHETHER THEY WERE STILL APPLICABLE IN THE FUTURE.
IN ADDITION, THE GOVERNMENT SHOULD TAKE INTO ACCOUNT NEW DEVELOPMENTS WHEN REVIEWING EXISTING POLICIES AND FORMULATING NEW ONES, HE ADDED.
NEW INDUSTRIAL POLICIES ESSENTIAL
*****
NEW INDUSTRIAL POLICIES AND NEW SUPPORTING FACILITIES ARE INDISPENSABLE IF INDUSTRY IS TO CONTINUE TO DEVELOP, THE HON NGAI SHIU-KIT TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SPEAKING DURING THE ADJOURNMENT DEBATE ON THE DEVELOPMENT OF INDUSTRY, MR NGAI SAID THAT TECHNOLOGY INTENSIVE PRODUCTION, PRODUCT DIVERSIFICATION AND HIGHER QUALITY PRODUCTION WERE ESSENTIAL PHASES IN THE COURSE OF INDUSTRIAL GROWTH.
+ IN ORDER THAT OUR INDUSTRY MIGHT BREAK THROUGH ITS PRESENT CONVENTIONAL STRUCTURE AND SUCCESSFULLY ADVANCE ON TO THIS IMPORTANT STAGE AT AN EARLY DATE, I CONSIDER THAT NEW INDUSTRIAL POLICIES AND SUPPORTING FACILITIES ARE JUST INDISPENSABLE, HE SAID.
MR NGAI URGED THE GOVERNMENT TO SET UP AN INDUSTRIAL AND TECHNOLOGY DEVELOPMENT CENTRE,
/HE SAID
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