XN000022-1988-12-16 — Page 9

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FRIDAY, DECEMBER 16, 1988

HK WELCOMES BOTH LOCAL AND OVERSEAS INVESTORS

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THE DEPUTY DIRECTOR OF INDUSTRY, MR ANDREW LEUNG, TODAY (FRIDAY) REFUTED ANY SUGGESTIONS THAT THE GOVERNMENT HAD BEEN SPECIAL FAVOURS TO OVERSEAS INVESTORS IN HONG KONG.

SHOWING

MR LEUNG WAS SPEAKING AT THE OPENING CEREMONY OF HWA COMPANY LIMITED IN TAI PO INDUSTRIAL ESTATE.

YIU

AND

HE EMPHASISED THAT THE SERVICES OF THE INDUSTRY DEPARTMENT LAND ON INDUSTRIAL ESTATES WERE BOTH AVAILABLE ON IDENTICAL TERMS FOR BOTH LOCAL AND OVERSEAS INVESTORS.

IN FACT, HE SAID, ABOUT ONE HALF OF ALL THE FACTORIES ON THE ESTATES WERE OWNED AND OPERATED BY LOCAL FIRMS.

THE 60,000-SQUARE-FOOT PLANT OF HWA YIU, A LOCAL INVESTMENT PROJECT, IS SPECIALLY BUILT FOR THE MANUFACTURE OF GALVANISED WELDED STEEL PIPES.

THE FACTORY IS EQUIPPED WITH COMPREHENSIVE FACILITIES WHICH INCLUDE A HIGH FREQUENCY WELDING MACHINE AND A LARGE GALVANISING TANK.

MR LEUNG NOTED THAT HWA YIU'S INVESTMENT TESTIFIED THAT HONG KONG COULD OFFER GOOD OPPORTUNITIES FOR THE MANUFACTURING OF A WIDE RANGE OF PRODUCTS FOR THE DOMESTIC MARKET AS WELL AS FOR EXPORT.

HE ALSO POINTED OUT THAT THE ESTABLISHMENT OF HWA YIU WAS A FINE EXAMPLE OF TECHNICAL CO-OPERATION BETWEEN LOCAL INDUSTRIALISTS AND CHINA.

ELABORATING ON THIS POINT, MR LEUNG MANUFACTURING OF MACHINES IN HWA YIU WERE BY PEKING AND SHANXI PROVINCE.

SAID THE DESIGN AND WELL-KNOWN WORKS IN

ENGINEERS FROM INSTITUTIONS IN CHINA HAD CONTRIBUTED GREATLY IN THE INSTALLATION AND COMMISSIONING OF THE PLANT EQUIPMENT.

"THE EXISTENCE OF HWA YIU WILL NO DOUBT ENHANCE THE DEVELOPMENT OF OUR METAL FABRICATION INDUSTRY BY PROVIDING HONG KONG WITH A RELIABLE SUPPLY OF STEEL TUBES ESPECIALLY TO THE BUILDING MATERIALS TRADE," HE SAID,

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"DEPENDENCE ON IMPORTS WILL ALSO BE FURTHER REDUCED.

"THE COMMENCEMENT OF HWA YIU AT THIS TIME ALSO COMPLEMENTS PERFECTLY THE HIGH LEVEL OF CONSTRUCTION ACTIVITIES AND PUBLIC WORKS PROGRAMMES IN HONG KONG.

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