XN000022-1991-03-14 — Page 3

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THURSDAY, MARCH 14, 1991

HE POINTED OUT THAT HONG KONG WAS NETHERLANDS'

TRADING PARTNER IN ASIA.

THIRD LARGEST

HALF

THERE WAS A SIGNIFICANT DUTCH COMMUNITY OF ONE AND A THOUSAND IN HONG KONG AND A LARGE NUMBER OF PEOPLE IN THE NETHERLANDS WHO HAD THEIR ROOTS IN HONG KONG.

DUTCH INVESTMENT IN HONG KONG'S MANUFACTURING INDUSTRY WAS HIGH AND THE FIGURE OF SOME 330 MILLION GUILDERS MADE THE NETHERLANDS THE FIFTH BIGGEST OVERSEAS INVESTOR IN HONG KONG, THE GOVERNOR SAID.

"THE DUTCH PRESENCE IN THE SERVICE SECTOR IS ALSO SIGNIFICANT. YOUR SHIPPING LINES DO A GREAT DEAL OF BUSINESS WITH HONG KONG. SO DOES KLM.

"DUTCH BANKS AND FINANCIAL

**

INSTITUTIONS ARE INCREASINGLY WELL

REPRESENTED IN THE TERRITORY, SIR DAVID SAID.

THE GOVERNOR OUTLINED TO THE AUDIENCE WHAT HAD BEEN DONE SO FAR AND WHAT REMAINED TO BE DONE FOR THE FUTURE OF HONG KONG.

HE SAID THE HONG KONG GOVERNMENT WAS ACTIVELY PREPARING FOR FUTURE BEYOND THE END OF THIS CENTURY.

A

BY

"WHILE WE MAKE THE NECESSARY INSTITUTIONAL CHANGES REQUIRED THE CHANGE OF SOVEREIGNTY, WE ALSO BELIEVE IT IS RIGHT TO DO EVERYTHING WE CAN TO LAY THE FOUNDATIONS FOR HONG KONG TO ENTER THE 21ST CENTURY AS ONE OF THE KEY CENTRES OF ECONOMIC DYNAMISM IN BAST ASIA, HE SAID.

++

THE GOVERNOR POINTED OUT THAT NO ONE SHOULD BELIEVE THAT HONG KONG WAS NOT FACING AN ENORMOUS CHALLENGE.

"WE KNOW WE ARE. THERE ARE MANY QUESTIONS THAT CANNOT BE ANSWERED AT THIS STAGE. I AM SURE, HOWEVER, THAT THIS CHALLENGE 19 ONE THAT CAN AND WILL BE MET AND OVERCOME.

"IT IS IN ALL PARTIES' INTERESTS THAT HONG KONG CONTINUES TO PROSPER. AND ALL THE ECONOMIC INDICATORS POINT TOWARDS GROWTH.

"THERE IS NO SUBSTITUTE FOR HONG KONG AND THE VITAL ROLE IT HAS CARVED OUT FOR ITSELF AS THE PRE-EMINENT REGIONAL BUSINESS CENTRE.

"AS AN INCREASING NUMBER OF INTERNATIONAL BUSINESSMEN REALISE, THOSE WHO ARE SERIOUS ABOUT DOING BUSINESS IN ASIA CANNOT AFFORD NOT TO BE REPRESENTED IN HONG KONG, THE GOVERNOR SAID.

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NOTE TO EDITORS:

THE FULL TEXT OP THE GOVERNOR'S SPEECH WILL. BE SENT BY

FACSIMILE.

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