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TUESDAY, MAY 12, 1987
+FOR OUR INDUSTRY TO GROW, WE NEED THE RIGHT AMOUNT OF SKILLED MANPOWER AVAILABLE AT THE RIGHT LEVELS,+ SIR DAVID SAID.
+THE GOVERNMENT HAS THEREFORE PLACED GREAT EMPHASIS ON EDUCATIONAL AND MANPOWER TRAINING PROGRAMMES.+
NOTING THAT THE WORK OF THE VOCATIONAL TRAINING COUNCIL AND THE TERTIARY EDUCATION INSTITUTIONS WAS PARTICULARLY IMPORTANT IN THIS, SIR DAVID SAID THE ESTABLISHMENT OF THE THIRD UNIVERSITY, WITH ITS EMPHASIS ON SCIENCE AND TECHNOLOGY, WAS A FURTHER DEMONSTRATION OF THE GOVERNMENT'S RECOGNITION OF THE NEED TO INVEST IN THE FUTURE.
HE SAID THAT WHILE THE GOVERNMENT WOULD CONTINUE TO EXPLORE WAYS TO HELP THE INDUSTRIES MAINTAIN THEIR EXTERNAL COMPETITIVENESS, THEY WOULD NEED TO MAINTAIN THEIR USUAL RESPONSIVENESS AND FLEXIBILITY TO MEET CHANGING CIRCUMSTANCES IN THE MARKET PLACE.
+TECHNOLOGICAL INNOVATION, COST REDUCTION, QUALITY DESIGN AND EFFECTIVE MANAGEMENT ARE SOME OF THE KEY FACTORS WHICH ARE NECESSARY TO ENSURE THE CONTINUED GROWTH AND DEVELOPMENT OF OUR MANUFACTURING INDUSTRIES,+ SIR DAVID SAID.
+ONLY BY THE JOINT EFFORTS OF THE GOVERNMENT AND THE PRIVATE SECTOR CAN WE FOSTER THE GROWTH WHICH WILL SECURE OUR STABILITY AND PROSPERITY FOR THE FUTURE.+
TURNING TO THE DEVELOPMENT OF THE HONG KONG EXPORT CREDIT INSURANCE CORPORATION, SIR DAVID CONGRATULATED THE CORPORATION AND ITS ADVISERS, BOTH PAST AND PRESENT, ON A JOB WELL DONE. HE SAID THE CORPORATION HAD COME A LONG WAY.
IN ITS FIRST YEAR, THE CORPORATION UNDERWROTE SOME 250 FIRMS AND $300 MILLION WORTH OF EXPORTS. NOW, 20 YEARS LATER, YOU HAVE A SOLID CLIENTELE OF 1 600 FIRMS AND LAST YEAR HAD INSURED EXPORTS OF $7 BILLION, + SIR DAVID SAID.
HE SAID THAT BY BUILDING UP A HEALTHY RATIO OF ASSETS TO RISK OVER RECENT YEARS, THE CORPORATION WAS WELL PLACED TO OFFER HONG KONG EXPORTERS NEW INSURANCE POLICIES THAT SUITED CHANGES IN THE TRADING ENVIRONMENT.
SIR DAVID SAID HE WAS CONFIDENT THAT THE CORPORATION WOULD BE ABLE TO MEET THE CHALLENGES OF THE FUTURE AS WELL AS IT HAD DONE THOSE IN THE PAST.
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