XN000022-1990-12-07 — Page 6

5

THOSE WHICH

IN

THE

AMONG THE INCREASING NUMBER OF FOREIGN FIRMS ARE

BUSINESS INTERESTS

USE HONG KONG AS A BASE TO PROMOTE THEIR ASIA PACIFIC REGION, MR BARMA SAID.

||

BY THE INDUSTRY DEPARTMENT QUOTING A SURVEY CONDUCTED SUMMER, MR BARMA SAID WHILE THE UNITED STATES AND JAPAN REMAINED KONG'S BIGGEST OVERSEAS INVESTORS IN ITS MANUFACTURING 1989 GERMAN INVESTMENT HAD GROWN SIGNIFICANTLY, AND RANKED SEVENTH.

THIS

HONG

INDUSTRIES IN

MILLION. MILLION. THIS BY 1989, THIS HAD REFLECTS YOUR GROWING CONFIDENCE IN HONG KONG AND I WOULD BE HAPPY SEE THIS TREND CONTINUE IN FUTURE,

"IN 1984, YOUR TOTAL INVESTMENT WAS VALUED AT US$14.4

FOUR-FOLD TO US$74.8 INCREASED

14

HE SAID.

ΤΟ

NOT ONLY TO SET USE HONG KONG AS A

MR BARMA SAID GERMAN COMPANIES WERE WELCOME,

ALSO TO UP TRADING OFFICES IN HONG KONG, BUT MANUFACTURING BASE.

BEEN PRIZED BY THE FOR THEIR

REGION

"INDEED, GERMAN PRODUCTS HAVE

THE HONG KONG AND IN PEOPLE OF LEGENDARY QUALITY AND DURABILITY.

LONG FOR

PACIFIC ASIA

UP A PRODUCTION "AND ONE GERMAN COMPANY WHICH SET

COFFEE ELECTRIC OF HONG

MELITTA, KONG,

MANUFACTURER RECENTLY WON OUR HIGHEST AWARD FOR QUALITY, THE GOVERNOR'S INDUSTRY," HE SAID.

PLANT IN MACHINES, AWARD FOR

OVERSEAS COMPANIES HAD

IN TECHNOLOGY

HONG KONG'S

RECOGNISED INDUSTRIAL

MR BARMA SAID A NUMBER OF THE OPPORTUNITIES FOR HIGHER ACTIVITIES AND STARTED THEIR NEW FACILITIES IN THE TERRITORY.

THE SETTING UP BY ANCILLARIES

THE MORE NOTABLE RECENT PROJECTS INCLUDED HOECHST OF A CHEMICAL PROCESSING PLANT TO PRODUCE TEXTILE AND THE ACQUISITION BY VITELIC CORPORATION OF THE UNITED STATES OF A HONG KONG SEMICONDUCTOR FOUNDRY TO UPGRADE ITS FACILITIES SUB-MICRON FIVE-INCH WAFERS.

ΤΟ PRODUCE

FOR 1990, THE TOTAL INVESTMENT IN HONG KONG WAS ABOUT US$10 MILLION,

VITELIC THIS

OPERATION

IN

CHINESE HE SAID CONCORDIA PAPER LTD, A JOINT VENTURE BETWEEN A

HAD PRIVATE COMPANY,

SET UP A

THE BOARD.

VALUE OF PAPER

THIS

STATE ORGANISATION AND A HONG KONG

PRODUCE PAPER RECYCLING PLANT TO INVESTMENT WAS OVER US$20 MILLION,

UP OTHER PROJECTS INCLUDED DAIWA STEEL TUBE OF JAPAN'S SETTING

IN HONG KONG OF A SUBSIDIARY TO MAKE HOT-DIP GALVANISED STEEL TUBES

AND THE MILLION),

DECISION BY (TOTAL INVESTMENT AMOUNTING TO US$8

IN HONG KONG то MANUFACTURE MONTEDISON OF ITALY TO SET UP A PLANT POLYSTYRENE (TOTAL INVESTMENT AMOUNTING TO ABOUT US$13 MILLION).

WAS ORGANISED

BY

THE

OF

FILM, THE

FEDERATION WHICH AT THE SEMINAR, GERMAN INDUSTRIES, MR BARMA ALSO SHOWED AN INDUSTRIAL PROMOTION

IN BROAD TERMS TO "HONG KONG

ILLUSTRATE ENTITLED

WORKS" ADVANTAGES OF HONG KONG FOR CERTAIN KINDS OF MANUFACTURING OPERATIONS.

0

/6