XN000022-1989-12-13 — Page 25

WEDNESDAY, DECEMBER 13, 1989

23

GOVT NOT COMPLACENT ON INDUSTRIAL POLICY

POLICY'S TOLD THE

WELL SO FAR, THE ALTHOUGH ITS POLICY ON INDUSTRY HAS WORKED

NOT BE AND MUST

COMPLACENT

THE WITH GOVERNMENT IS NOT SUCCESS, THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

REPLYING TO A QUESTION FROM PROF THE HON C.K. POON,

OF SAID THE GOVERNMENT CONTINUED TO REVIEW THE ADEQUACY

THE INDUSTRY SERVICES AND FACILITIES, AND THE ADVICE OF BOARD WOULD AS USUAL BE SOUGHT IN THAT CONNECTION.

MR POON HAD ASKED

WHETHER

то KEEN

SIR PIERS ITS SUPPORT DEVELOPMENT

ITS

THE GOVERNMENT WOULD REVIEW

KONG'S IN ORDER

MAINTAIN AND

HONG IMPROVE INDUSTRIAL POLICY

COMPETITION THAT NEWLY DEVELOPED COMPETITIVE EDGE IN VIEW OF ECONOMIES IN SOUTHEAST ASIA POSED TO HONG KONG'S INDUSTRIES.

RIGHTLY RAISED WAS A MATTER OF GREAT

SIR PIERS SAID IT WAS A SUBJECT WHICH HAD BEEN IN THE COUNCIL FROM TIME TO TIME BECAUSE IT IMPORTANCE.

HE SAID THAT, ESSENTIALLY, THE GOVERNMENT'S WAS DESIGNED TO ALLOW MARKET FORCES TO DETERMINE THE BY INDUSTRY.

INDUSTRIAL POLICY DIRECTION TAKEN

AND ENCOURAGE GROWTH

THE GOVERNMENT'S ROLE WAS TO FACILITATE THROUGH THE PROVISION OF NECESSARY INFRASTRUCTURAL SUPPORT.

AND DEVELOPMENTAL

WELL. OVER THE YEARS, WE

AND ADAPTING

ADJUSTING THEIR

"THIS POLICY HAS SERVED HONG KONG

MANUFACTURERS WITNESSED MANY PRODUCTION METHODS IN RESPONSE TO CHANGING MARKET CONDITIONS.

HAVE

"WE HAVE ALSO SEEN GREATER DIVERSIFICATION AND

OUR MANUFACTURED PRODUCTS.

IMPROVEMENT OF

OF OUR

MORE LABOUR TERRITORY TO

"IN RESPONSE TO PRESSURE OF DEMAND, SOME INTENSIVE MANUFACTURING PROCESSES HAVE MOVED OUT OF THE OTHER LOWER COST PRODUCTION CENTRES.

HAS ALLOWED THE LIMITED

"THIS IS A CONTINUING PROCESS WHICH RESOURCES OF OUR ECONOMY TO BE PUT TO BETTER AND MORE FRUITFUL USE.

BEEN ABLE TO ACHIEVE A HIGHER "AS A RESULT, HONG KONG HAS

SIR PIERS SAID. VALUE ADDED AND HAS REMAINED HIGHLY COMPETITIVE,

SIR

ALSO PIERS

SAID THAT

WHILE

THE

BELIEVED

GOVERNMENT DIRECTLY INVOLVED, IT

OF PUBLIC SERVICES AND FACILITIES

INVESTMENT DECISIONS WERE BEST TAKEN BY THOSE DID REVIEW AND EXPAND THE RANGE FROM TIME TO TIME IN ORDER TO MEET DEMAND.

/HE POINTED