XN000022-1990-01-15 — Page 11

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MONDAY, JANUARY 15, 1990

SIR DAVID NOTED THAT IT WAS ONLY TWO AND A HALF YEARS SINCE HAD LAID THE FOUNDATION STONE FOR THE BUILDINGS OPENED TODAY.

HE

"THE CITY POLYTECHNIC NOW HAS SOME 10,000 FULL-TIME AND

PART-TIME STUDENTS AND ITS AWARDS ARE HIGHLY REGARDED KONG AND OVERSEAS, HE SAID.

.

ΒΟΤΗ EN HONG

THE GOVERNOR CONGRATULATED THE COUNCIL AND THE STAFF OF THE CITY POLYTECHNIC ON HAVING ACHIEVED SO MUCH SO QUICKLY.

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HE EXTENDS ROLE AS BUSINESS HUB FOR ASIA/PACIFIC

GROWTH AND DEVELOPMENT IN HONG KONG'S ROLE AS A BUSINESS HUB POR THE ASIA PACIFIC REGION REQUIRES THE NECESSARY PHYSICAL INFRASTRUCTURE OF TRANSPORT AND COMMUNICATIONS, THE FINANCIAL SECRETARY, SIR PIERS JACOBS, SAID TODAY (MONDAY).

SPEAKING AT A LUNCHEON ATTENDED BY FINNISH, SWEDISH. NORWEGIAN AND DANISH BUSINESSMEN, SIR PIERS POINTED OUT THAT HONG KONG'S ROLE AS AN ENTREPOT HAD BEEN REASSERTED SPECTACULARLY OVER THE PAST DECADE AND ITS ECONOMIC LINKS EXTENDED BEYOND THOSE WITH CHINA.

"HONG KONG IS INCREASINGLY PROVIDING AN ENTREPOT ROLE FOR THE RAPIDLY GROWING ASIA PACIFIC ECONOMIES, AND HONG KONG BUSINESSMEN HAVE DIVERSIFIED THEIR INVESTMENTS TO OTHER LOW COST MANUFACTURING LOCATIONS IN THE REGION, SUCH AS THAILAND AND MALAYSIA.

"IN ESSENCE, HONG KONG IS CAPITALISING ON ITS UNIQUE GEOGRAPHY TO EMERGE AS A BUSINESS HUB FOR THE ASIA PACIFIC REGION, HE SAID.

UNDERLINING THE NEED FOR INFRASTRUCTURAL DEVELOPMENT, SIR PIERS NOTED THAT WHILE HONG KONG'S CONTAINER PORT AT PRESENT WAS THE BUSIEST INTHE WORLD AND ALSO AMONG THE MOST EFFICIENT AND MOST TECHNOLOGICALLY ADVANCED, ITS CAPACITY RECENTLY HAD BEEN STRETCHED BY THE ENORMOUS GROWTH OF TRADE.

"IT FACES COMPETITION FROM ELSEWHERE,

PARTICULARLY FROM OUR

FRIENDS IN SINGAPORE," HE SAID.

THE AIRPORT AT KAI TAK WHICH HANDLED NOT ONLY RECORD NUMBERS OF PASSENGERS BUT ALSO CONSIDERABLE QUANTITIES OF CARGO WAS SHOWING SIGNS OF STRAIN.

"SO WE CANNOT REST ON WHAT WE HAVE,' SIR PIERS STRESSED, ADDING THAT THE PLANNED TRANSFORMATION OF THE PORT WOULD EVENTUALLY ALLOW FOR A FIVE-FOLD INCREASE IN CONTAINER TRAFFIC AND THE CONSTRUCTION OF A NEW INTERNATIONAL AIRPORT WOULD PROVIDE OVER THREE TIMES THE CAPACITY OF KAI TAK.

/"I KNOW