XN000022-1990-04-12 — Page 4

THURSDAY, APRIL 12, 1990

EXPLAINING THE PURPOSE OF THE VISIT, MRS TAM SAID: "THE NATIONALITY BILL IS VERY IMPORTANT TO HONG KONG; ITS PASSAGE WILL CONTRIBUTE TOWARDS REDUCING THE BRAIN DRAIN WHICH THREATENS TO UNDERMINE CONFIDENCE IN THE TERRITORY. WE WANT TO BE THERE WHEN IT IS BEING DEBATED TO SHOW OUR CONTINUOUS INTEREST AND CONCERN."

NOTE:

THE HON MRS ROSANNA TAM AND THE HON MR RONALD ARCULLI WILL LEAVE FOR LONDON EARLY NEXT WEEK AND ARE EXPECTED TO RETURN OVER THE WEEKEND.

DURING THEIR STAY, THEY CAN BE CONTACTED THROUGH MR ROSS CLARKE OF THE OMELCO LONDON OFFICE.

OVERSEAS INVESTMENT IN HK REMAINS STRONG

* * * * *

HONG KONG, COUNTRIES, FRANCISCO,

OVERSEAS INTEREST AND INVESTMENT REMAINS STRONG IN PARTICULARLY FROM JAPAN, BUT ALSO FROM THE U.S. AND OTHER THE DIRECTOR OF HONG KONG ECONOMIC AND TRADE OFFICE IN SAN MR PETER JOHNSON, SAID IN LOS ANGELES YESTERDAY (WEDNESDAY).

THE

ADDRESSING AN AUDIENCE OF BUSINESS EXECUTIVES AT CALIFORNIA-ASIA TRADE CONFERENCE ORGANISED BY THE OFFICE OF CALIFORNIA GOVERNOR GEORGE DEUKMEJIAN AND THE CALIFORNIA STATE WORLD TRADE COUNCIL, MR JOHNSON SAID THERE HAD BEEN SUBSTANTIAL RECOVERY FROM THE SHORT TERM NEGATIVE IMPACT OF THE EVENTS IN CHINA LAST SUMMER.

HE POINTED OUT THAT THE DEVELOPMENT OF A NEW AIRPORT TO REPLACE THE PRESENT KAI TAK, AND A FIVE-FOLD EXPANSION OF HONG KONG'S CONTAINER PORT FACILITIES WOULD CREATE CONSIDERABLE OPPORTUNITIES FOR OVERSEAS COMPANIES IN A VAST RANGE OF DIFFERENT ACTIVITIES.

"WE EXPECT SUBSTANTIAL PRIVATE SECTOR PARTICIPATION

IS ALREADY A NUMBER OF AMERICAN COMPANIES INVOLVED.

-

AND THERE

"INDEED, A U.S. COMPANY, BECHTEL BASED IN SAN FRANCISCO HAS JUST THIS WEEK BEEN APPOINTED PROJECT MANAGER FOR THE WHOLE DEVELOPMENT. AND FIVE OF THE EIGHT COMPANIES SHORTLISTED TO PRODUCE A MASTERPLAN FOR THE NEW AIRPORT ARE FROM THE U.S.

"U.S. INTERESTS ARE ACTIVE IN OTHER AREAS TOO. U.S. WEST HAS A 25 PER CENT STAKE IN OUR NEW CABLE TV NETWORK, CITICORP

IS TAKING A 10 PER CENT STAKE IN A US$700 MILLION DEVELOPMENT IN THE DOWNTOWN AREA, MOTOROLA IS DEVELOPING A HUGE NEW FACILITY, SEVERAL SMALLER DEVELOPMENTS.

AND

THERE ARE

/MR JOHNSON