XN000022-1988-12-14 — Page 24

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WEDNESDAY, DECEMBER 14, 1988

INWARD INVESTMENT IN 1987 WORTH NEARLY $2 BILLION

THE VALUE OF ALL INWARD INVESTMENT IN 1987 AMOUNTED TO JUST UNDER $2 BILLION, THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

THIS REPRESENTED A 19 PER CENT INCREASE OVER 1986, MR SAID IN REPLY TO A QUESTION FROM THE HON MARTIN BARROW.

TOLD

JACOBS

THE VALUE WAS EXPRESSED IN TERMS OF GROSS ADDITIONS то FIXED ASSETS WHICH INCLUDED THE PURCHASES OF MACHINERY AND EQUIPMENT, LAND AND BUILDINGS, AND OTHER ASSETS.

"THE VALUE OF TOTAL OVERSEAS INVESTMENT AT ORIGINAL COST AT THE END OF 1987 WAS ABOUT $21 BILLION, MR JACOBS SAID.

THIS REPRESENTED AN EIGHT PER CENT INCREASE OVER THE FIGURE AT THE END OF 1986, AND ALMOST DOUBLE THE FIGURE RECORDED IN SEPTEMBER, 1984, WHEN REGULAR SURVEYS WERE FIRST CONDUCTED BY THE INDUSTRY DEPARTMENT.

REFERRING TO THE STRATEGY ADOPTED ON THE TYPE OF INWARD INVESTMENT IN MANUFACTURING WHICH WAS BEING SOUGHT., MR JACOBS EXPLAINED THAT THE PROGRAMME HAD FOR SOME YEARS BEEN GEARED TO THE ACQUISITION OF TECHNOLOGY RATHER THAN THE CREATION OF EMPLOYMENT AND CAPITAL.

"HALF OF THE COMPANIES ASSISTED SO FAR LABOUR-SAVING AUTOMATED SYSTEMS, INCLUDING UNMANNED AND ROBOTICS, HE SAID.

THIS YEAR

PRODUCTION

USE LINES

TUNNELS TO GET RADIO RECEPTION FACILITIES

* * * * *

THE GOVERNMENT WILL

INSTALL

RADIO RECEPTION FACILITIES IN FOR TRANSPORT, THE HON

THREE GOVERNMENT TUNNELS, THE SECRETARY MICHAEL LEUNG, SAID TODAY (WEDNESDAY},

SPEAKING IN THE LEGISLATIVE COUNCIL, THREE TUNNELS IN WHICH SUCH FACILITIES WOULD LION ROCK, ABERDEEN AND AIRPORT TUNNELS.

MR LEUNG SAID THAT THE BE INSTALLED WERE THE

THE ESTIMATED COST OF INSTALLATION, EXCLUDING CIVIL

ABOUT $11.3 MILLION.

WORK, WAS

FOR FUNDS

A SUBMISSION WOULD BE MADE TO THE FINANCE COMMITTEE ONCE THE DEPARTMENTS CONCERNED WORKED OUT THE TOTAL COST, MR LEUNG ADDED IN REPLY TO A QUESTION FROM THE HON RITA FAN.

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