XN000022-1990-10-16 — Page 2

TUESDAY, OCTOBER 16, 1990

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HONG KONG HAS KEYS TO MODERN BUSINESS: SIR DAVID

BUSINESS, ROME

HONG KONG IS A PLACE IN WHICH, AND FROM WHICH, TO DO THE GOVERNOR, SIR DAVID WILSON TOLD THE ITALIAN ENTREPRENEURS IN TODAY (TUESDAY).

SIR DAVID SAID CONVENIENT TRAVEL CONNECTIONS, FIRST CLASS COMMUNICATIONS AND ACCESS TO UP-TO-THE-MINUTE INFORMATION WERE THE KEYS TO MODERN BUSINESS.

"HONG KONG

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AT THE CENTRE OF THE MOST ECONOMICALLY DYNAMIC PART OF THE WORLD HAS THESE KEYS. IT IS DETERMINED TO KEEP THEM, THE GOVERNOR SAID WHEN ADDRESSING THE FEDERATION OF ITALIAN

INDUSTRIES.

ON THE PROBLEM OF BRAIN DRAIN IN HONG KONG, SIR UNDERSTANDABLY, THE PROSPECT OF CHANGE STILL CREATED SOME IN THE MINDS OF MANY HONG KONG PEOPLE.

DAVID SAID UNCERTAINTY

SIR DAVID SAID EMIGRATION WAS A PRACTICAL PROBLEM AND THE GOVERNMENT WAS ADOPTING PRACTICAL SOLUTIONS FOR IT WHICH INCLUDE: - THE BRITISH NATIONALITY SCHEME; DOUBLING THE OUTPUT OF THE TERRITORY'S UNIVERSITIES AND POLYTECHNICS OVER THE NEXT FOUR YEARS AND MAKING IT EASIER FOR FIRMS TO RECRUIT OVERSEAS SKILLED PERSONNEL WHICH COULD NOT BE FOUND IN THE LOCAL MARKET.

HE SAID COMPETITION FOR TALENT WAS ALREADY VERY FIERCE AND AS THE SERVICES SECTOR EXPANDED, DEMAND FOR EDUCATED AND SKILLED WHITE- COLLAR STAFF HAD INCREASED.

AT THE SAME TIME, HE SAID, CHINA'S MODERNISATION HAD OPENED OPPORTUNITIES ACROSS THE BORDER.

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"WE ESTIMATE THAT SOME 50,000 PEOPLE FROM HONG KONG NOW WORK IN DIFFERENT PARTS OF CHINA, PASSING ON THEIR SKILLS TO PEOPLE THERE.

"THIS IS JUST ONE ASPECT OF THE GROWING INTER-DEPENDENCE OF THE HONG KONG AND MAINLAND ECONOMIES," SIR DAVID SAID.

THE GOVERNOR SAID HONG KONG ENTREPRENEURS WERE QUICK TO SEIZE THE OPPORTUNITIES PRESENTED BY CHEAPER LAND AND MORE ABUNDANT LABOUR WHEN CHINA OPENED ITS DOORS TO FOREIGN INVESTMENT.

"THEY HAVE PROVIDED ABOUT 70 PER CENT OF THIS INVESTMENT L13,000 BILLION IN ALL (US$11.3 BILLION)."

SIR DAVID SAID IN GUANGDONG ALONE, THE CHINESE AUTHORITIES ESTIMATED THAT HONG KONG INVESTORS HAD CREATED JOBS FOR SOME TWO MILLION PEOPLE.

"THAT IS MORE WORKFORCE, HE SAID.

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THAN DOUBLE HONG KONG'S OWN

MANUFACTURING

/HONG KONG