XN000022-1989-11-28 — Page 8

TUESDAY, NOVEMBER 28, 1989

7

JAPANESE INVESTMENT BRINGS IN NEW TECHNOLOGY, MANAGEMENT SKILLS

* * * *

*

IMPORTANT SOURCE

JAPANESE INVESTMENT HAS DEEN AN

IN INTRODUCING NEW PRODUCTION TECHNOLOGY AND ADVANCED MANAGEMENT SKILLS INTO HONG KONG'S MANUFACTURING COMMUNITY,

J

THE DIRECTOR OF INDUSTRY, MR T.H. BARMA, SAID THIS TODAY

TUESDAY) AT THE OPENING OF THE PACIFIC TUBE CORPORATION AT THE YUEN LONG INDUSTRIAL ESTATE.

MR BARMA SAID THE OPENING OF THE FIRM HAD MARKED THE ULMINATION OF ANOTHER SUCCESSFUL EFFORT OF THE INDUSTRY DEPARTMENT TO PROMOTE OVERSEAS INDUSTRIAL INVESTMENT IN HONG KONG.

IN THE T'AST 12 MONTHS. THE INDUSTRY DEPARTMENT'S ONE STOP UNIT AND ITS INVESTMENT PROMOTION OFFICE IN TOKYO HAVE ASSISTED 13 JAPANESE COMPANIES IN SETTING UP IN HONG KONG NEW MANUFACTURING OPERATIONS AND EXPANDING EXISTING FACILITIES, HE SAID.

FT

HE NOTED THAT THE INDUSTRY DEPARTMENT WAS ALSO HELPING A IURTHER 80 JAPANESE COMPANIES WITH THEIR ENQUIRIES AND EIGHT OF THESE HAD ALREADY ENTERED INTO COMMITMENTS TO COMMENCE OR EXPAND PRODUCTION WITHIN THE NEXT 12 MONTHS.

"SUCH ACTION CONFIRMS THE ADVANTAGES OF HONG KONG AS AN OFFSHORE MANUFACTURING LOCATION, HE SAID.

IL

MR BARMA SAID THE 1999 SURVEY OF OVERSEAS INVESTMENT,

WERE PUBLISHED EARLIER THIS MONTH, SHOWED THAT THERE

170 WHOLLY OR PARTLY OWNED JAPANESE ESTABI, ISHMENTS IN HONG KONG AT THE END OF 1988.

"O THESE, 75 COMPANIES WERE REPORTED TO HAVE APPLIED ADVANCED TECHNOLOGY IN THEIR OPERATIONS, HE SAID.

F

HE NOTID THAT JAPAN HAD CONSOLIDATED ITS POSITION AS THE COUNTRY WITH THE MOST INDUSTRIAL INVESTMENTS IN HONG KONG AFTER THE UNITED STATES.

96.9 BILLION, JAPANESE

"WITH CUMULATIVE INVESTMENTS AT INTERESTS ACCOUNTED FOR 27 PER CENT OF TOTAL OVERSEAS THE INDUSTRIAL SECTOR IN HONG KONG, HE SAID.

H

INVESTMENTS IN

TURNING TO THE GOVERNMENT'S RECENTLY ANNOUNCED PLAN TO IMPROVE THE INFRASTRUCTURE, MR BARMA SAID THESE DEVELOPMENT PROGRAMMES, INVOLVING AN ESTIMATED CAPITAL EXPENDITURE OF $127 DESIGNED TO ENHANCE AND SUSTAIN THE STABILITY AND PROSPERITY TERRITORY WELL INTO THE NEXT CENTURY.

BILLION,

WERE

OF

THE

"THE GOVERNMENT WILL DE SEEKING INVESTMENT INITIATIVES FROM

THE PRIVATE SECTOR IN REALISING THESE PROJECTS,

HE ADDED.

18