XN000022-1990-10-10 — Page 9

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WEDNESDAY, OCTOBER 10, 1990

"WE NEED TO BE SURE THAT THE SPIRIT OF ENTERPRISE FLOURISHES ALLOW INDIVIDUALS THE FREEDOM AND OPPORTUNITY TO SUCCEED BY THEIR OWN EFFORTS.

TO

"OF COURSE, WE MUST ALSO ENSURE THAT OUR BUSINESS PRACTICES CONFORM TO THE STANDARDS OF A MAJOR INTERNATIONAL CENTRE OF TRADE AND FINANCE. OTHERWISE, WE CANNOT ATTRACT THE OUTSIDE INVESTMENT WE WANT AND WELCOME," SIR DAVID SAID.

НЕ SAID THE GOVERNMENT WAS STEPPING UP ITS PROTECTION OF THE ORDINARY INVESTOR IN AREAS IDENTIFIED POTENTIAL FOR ABUSE.

"AFTER A PERIOD OF NECESSARY TIGHTENING UP, I BELIEVE WE NOW HAVE THE BALANCE ABOUT RIGHT. WE WILL MAKE SURE THAT IT IS KEPT RIGHT

NEITHER TOO LITTLE NOR TOO MUCH, HE SAID.

-

H

THE GOVERNOR SAID HONG KONG DID NOT INVENT THE FREK MARKET PRIVATE ENTERPRISE ECONOMY, BUT, OVER THE PAST 30 YEARS THE TERRITORY HAD BECOME ONE OF ITS MOST SUCCESSFUL EXPONENTS.

"BY HOLDING FIRM TO OUR PRINCIPLES, WE HAVE ACHIEVED NOTABLE ECONOMIC SUCCESS DOMESTICALLY,

"NOW, INTERNATIONALLY, WE ARE PLAYING AN IMPORTANT ROLE IN SUPPORTING FREEDOM OF TRADE IN GOODS AND SERVICES, HE SAID.

BUT

US,

THE GOVERNOR STRESSED THAT IT WAS ESSENTIAL NOT ONLY FOR FOR THE WORLD ECONOMY, THAT THE CURRENT URUGUAY ROUND OF NEGOTIATIONS ABOUT THE GENERAL AGREEMENT ON TARIFFS AND TRADE A SUCCESSFUL CONCLUSION IN DECEMBER.

"WE WILL CONTINUE WORKING HARD TO THIS END, HE SAID.

THE GOVERNMENT ALSO HAD A RESPONSIBILITY ΤΟ ENVIRONMENT IN WHICH THE ECONOMY COULD CONTINUE TO DIVERSIFY AND THIS MEANT MAKING MAJOR INVESTMENTS IN THE PHYSICAL INFRASTRUCTURE.

WITHOUT THESE INVESTMENTS, THE ECONOMY COULD NOT PROSPERITY ON WHICH FAMILIES BASED THEIR PLANS FOR THE DAVID SAID.

REACHED

CREATE AN EXPAND AND TERRITORY'S

PRODUCE THE FUTURE, SIR

AT THE SAME TIME, THE GOVERNOR POINTED OUT THAT AS HONG KONG GREW RICHER, THE GOVERNMENT MUST SEE TO IT THAT THE COMMUNITY HAD ADEQUATE HOUSING, MEDICAL AND OTHER SERVICES.

AS

"THE LABOUR FORCE IS ENTITLED TO A DECENT WORKING ENVIRONMENT, WELL AS TO PROPER REWARDS. THROUGH PUBLICITY AND LEGISLATION, STEADILY IMPROVING CONDITIONS IN THE WORK-PLACE, BE IT OFFICE

WE OR

ARE FACTORY.

"BOTH THE GOVERNMENT AND THE COMMUNITY HAVE CONSISTENTLY, AND RIGHTLY, BEEN WILLING ΤΟ INVEST HEAVILY IN CREATING THE PUBLIC SERVICES NECESSARY TO MEET THE COMMUNITY'S ESSENTIAL NEEDS, SIR DAVID SAID.

/NOTING THAT