XN000022-1990-09-08 — Page 5

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SATURDAY, SEPTEMBER 8, 1990

A

TURNING TO AMERICAN INVESTMENT IN HONG KONG, MR BARMA SAID NUMBER OF AMERICAN COMPANIES HAD RECOGNISED THE OPPORTUNITIES FOR HIGHER TECHNOLOGY IN HONG KONG'S INDUSTRIAL ACTIVITIES.

MR BARMA SAID ONE EXAMPLE WAS HIMONT, THE WORLD'S LARGEST PRODUCER OF POLYPROPYLENE RESINS, WHICH HAD ESTABLISHED A TECHNICAL CENTRE IN HONG KONG TO PROVIDE SUPPORT FOR THE PLASTIC MATERIAL INDUSTRIES, INCLUDING ECOLOGICAL ISSUES AND DESIGN ADVANCEMENT CAPABILITIES.

"THE INVESTMENT EXCEEDS US$7 MILLION," HE SAID.

CENTRE" CENTRE,

ANOTHER EXAMPLE WAS MOTOROLA'S "SILICON HARBOUR PROJECT IN HONG KONG WHICH WAS NOW NEARING COMPLETION. THE COSTING SEVERAL HUNDRED MILLION U.S. DOLLARS, WOULD BE ONE OF THE MOST ADVANCED FACILITIES IN THE WORLD, A GENERATION AHEAD OF SIMILAR PLANTS IN OTHER PARTS OF THE WORLD.

MR BARMA SAID: "AS A MATTER OF FACT, ACCORDING ΤΟ PIGURES RELEASED BY THE U.S. DEPARTMENT OF COMMERCE, TOTAL U.S. INVESTMENT IN HONG KONG IN 1989 WAS THE LARGEST IN THE REGION, AMOUNTING TO US$5.85 BILLION, OR 28 PER CENT OF THE TOTAL IN ASIA PACIFIC.

"IT REPRESENTS A 12 PER CENT INCREASE OVER 1988.

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MR BARMA SAID A NUMBER OF FOREIGN COMPANIES HAD GONB A STEP FURTHER AND SET UP A MANUFACTURING BASE IN HONG KONG.

THE MORE NOTABLE PROJECTS RECENTLY COMPLETED INCLUDED THE ACQUISITION BY VITELIC CORPORATION OF SAN JOSE OF A HONG KONG SEMI-CONDUCTOR FOUNDRY TO UPGRADE ITS FACILITIES TO PRODUCE SUB-MICRON FIVE-INCH WAFERS AND THE SETTING UP OF PEN-TSAO-MATERIA-MEDICA-CENTER LTD, A JOINT VENTURE OF WEST GERMAN AND HONG KONG INTERESTS, PRODUCE ORGANIC INTERMEDIATES FOR THE MANUFACTURE OF PHARMACEUTICALS AND CHEMICALS.

TO

OTHER PROJECTS INCLUDED THE SETTING UP OF A PAPER RECYCLING PLANT TO PRODUCE PAPER BOARD BY CONCORDIA PAPER LTD; A JOINT VENTURE BETWEEN A CHINESE STATE ORGANISATION AND A HONG KONG PRIVATE COMPANY; AND THE SETTING UP BY DAIWA STEEL TUBE OF JAPAN OF MAKE HOT-DIP GALVANISED STEEL TUBES IN HONG KONG.

MR BARMA ALSO OUTLINED HONG KONG'S PLANS ALREADY EXCELLENT INFRASTRUCTURE WHICH HE SAID WOULD AN EVEN MORE ATTRACTIVE PLACE TO DO BUSINESS.

A SUBSIDIARY TO

ΤΟ IMPROVE ITS MAKR HONG KONG

"WE ARE LOOKING AHEAD AND ARE PLANNING FOR THE FUTURE,"

HR

SAID.

THESE PLANS INCLUDED BUILDING A NEW AIRPORT BY EARLY HANDLE 80 MILLION PASSENGERS ANNUALLY AND THE EXPANSION OF PORT FACILITIES TO ACHIEVE, BY 2006, A FIVE-FOLD INCREASE KONG'S CONTAINER THROUGHPUT WHICH AT PRESENT AMOUNTED TO 4.46 20-FOOT EQUIVALENT UNITS PER ANNUM.

1997 TO EXISTING IN HONG MILLION

/NEW HIGHWAYS