XN000022-1990-05-30 — Page 27

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WEDNESDAY, MAY 30, 1990

HK PLANNING INTO NEXT CENTURY

HONG KONG IS PLANNING FOR THE FUTURE, NOT JUST WELL INTO THE NEXT CENTURY, THE DIRECTOR OF INDUSTRY, MR SAID TODAY (WEDNESDAY).

TO 1997 BUT

T.H. BARMA,

SPEAKING AT AN INDUSTRIAL INVESTMENT PROMOTION SYMPOSIUM IN TOKYO, MR BARMA SAID WORK HAD BEGUN IN THE LAST FEW MONTHS ON SOME OF THE MOST AMBITIOUS ENGINEERING PROJECTS EVER IN HONG KONG'S HISTORY, WHICH WOULD BE IMPORTANT IN LAYING THE FOUNDATION FOR HONG KONG'S CONTINUED ECONOMIC GROWTH.

"THE CO-ORDINATED NEW INTERNATIONAL AIRPORT DEVELOPMENT PROJECT, TOGETHER WITH THE ASSOCIATED FACILITIES, CALL FOR CAPITAL EXPENDITURE OF US$16.3 BILLION.

AND PORT TRANSPORT

"THE NEW AIRPORT AT CHEK LAP KOK WILL BE ABLE то HANDLE 80 MILLION PASSENGERS A YEAR, OVER THREE TIMES THE MAXIMUM CAPACITY OF THE EXISTING KAI TAK INTERNATIONAL AIRPORT.

"WITH REGARD TO THE EXPANSION OF OUR PORT, WE HAVE LOOKED: AHEAD TO 2006, BY WHICH TIME WE SHALL NEED TO INCREASE OUR CONTAINER THROUGHPUT BY FIVE TIMES, HE SAID.

T

MR BARMA SAID THE METROPLAN PROPOSALS HAD A SIGNIFICANT BEARING ON THE PATTERN OF HONG KONG'S DEVELOPMENT IN WERE DESIGNED TO RESTRUCTURE THE CITY "TO BRING ORGANISED, MORE EFFICIENT AND MORE DESIRABLE PLACE IN AND WORK"

•

THE FUTURE AND ABOUT A BETTER WHICH TO LIVE

METROPLAN OFFERED THE OPPORTUNITY ΤΟ REMOVE MANY OF THE INFRASTRUCTURAL CONSTRAINTS WHICH BORE UPON HONG KONG'S MANFACTURING SECTOR. IT WOULD ALSO INVOLVE A DRAMATIC RELOCATION OF MANUFACTURING INDUSTRIES FROM WITHIN THE EXISTING URBAN AREA TO THE NEW TOWNS AND TO AREAS CLOSE TO THE NEW AIRPORT AND PORT FACILITIES.

"ALL THESE PROJECTS WILL INVOLVE THE PRIVATE SECTOR IN PROJECT FINANCE, ENGINEERING CONSULTANCY, CONSTRUCTION AND SUPPLY OF RAW MATERIALS.

tr

*

RESPONSE FROM THE PRIVATE SECTOR TO PARTICIPATION IN THESE PROJECTS HAS BEEN ENCOURAGING, HE SAID.

ON HONG KONG-CHINA RELATIONSHIPS, MR BARMA SAID CHINA AND KONG WERE CLOSE INVESTMENT PARTNERS.

HONG

BY THE END OF 1988, CHINA BECAME THE THIRD LARGEST INVESTOR HONG KONG'S MANUFACTURING INDUSTRIES, ACCOUNTING FOR 11.3 PER CENT TOTAL OVERSEAS INVESTMENT.

IN

OF

TWO-THIRDS OF

THE

ON THE OTHER HAND, HONG KONG ACCOUNTED FOR REALISED DIRECT FOREIGN INVESTMENT IN CHINA, AT US$11.5 BILLION.

/MR BARMA