XN000022-1991-05-08 — Page 26

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WEDNESDAY, MAY 8, 1991

"TECHNOLOGY-DRIVEN INNOVATION INCREASINGLY HEALTH AND THE GAINS IN STANDARDS OF LIVING WHICH SAID.

UNDERPINS ECONOMIC THAT BRINGS," HE

TO TRANSLATE TECHNOLOGICAL ADVANCES INTO TANGIBLE ECONOMIC BENEFITS REQUIRED EFFORT TO PROMOTE SCIENCE AND TECHNOLOGY, TO FOSTER THE EXCHANGE OF INFORMATION AND IDEAS AND TO ENCOURAGE COLLABORATION, PARTICULARLY BETWEEN SCIENTISTS AND INDUSTRIALISTS.

"I AM SURE THAT THE INTERNATIONAL FEDERATION OF ASSOCIATIONS FOR THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY WILL MAKE AN IMPORTANT CONTRIBUTION TO THIS EFFORT AT THE INTERNATIONAL LEVEL IN THE SAME WAY AS ITS INDIVIDUAL MEMBER ASSOCIATIONS DO AT THE LOCAL LEVEL.

"I BELIEVE THAT HONG KONG ALSO HAS A PART TO PLAY, AS A CENTRE ΤΟ FACILITATE THE DISSEMINATION AND EXCHANGE OF INFORMATION ON SCIENCE AND TECHNOLOGY WITHIN THE ASIA PACIFIC REGION AND MORE WIDELY, MR CHAN SAID.

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TURNING TO THE SUBJECT OF MANUFACTURING INVESTMENT, MR CHAN SAID AT THE SAME TIME AS HONG KONG MANUFACTURERS HAD BEEN DIVERSIFYING THEIR INVESTMENTS TO CHINA, AND OTHER LOCATIONS IN THE REGION WHICH OFFERED ADVANTAGES IN TERMS OF LAND AND LABOUR COSTS, HONG KONG ITSELF HAD CONTINUED TO ATTRACT INVESTMENT FROM OVERSEAS.

THE TOTAL NUMBER OF OVERSEAS COMPANIES BASED IN HONG KONG HAD INCREASED FOR THE LAST FIVE YEARS AT THE RATE OF NEARLY 60 PER YEAR.

THERE WAS A STRONG OVERSEAS PRESENCE IN THE MANUFACTURING SECTOR AND IN MANY SERVICE INDUSTRIES SUCH AS RETAILING AND BANKING.

HONG KONG WAS THE BASE FOR THE REGIONAL HEADQUARTERS OF MANY MULTINATIONAL COMPANIES.

"AND, WITH ITS WELL-DEVELOPED FINANCIAL SECTOR, HONG KONG IS ALSO A NATURAL CHANNEL FOR INVESTORS FROM AROUND THE WORLD WHO WANT TO EXPLORE THE OPPORTUNITIES PRESENTED BY THE OPENING AND MODERNISATION OF CHINA," MR CHAN SAID.

"IN ESSENCE, HONG KONG IS EMERGING AS A THE ASIA PACIFIC REGION WITH CONNECTIONS REACHING THE GLOBE.

BUSINESS HUB WITHIN TO EVERY PART OF

"THIS ROLE IS MADE POSSIBLE BY HONG KONG'S NATURAL ASSETS: GEOGRAPHY AND ITS SUPERB DEEP-WATER HARBOUR.

ITS

AND

"BUT THE PROVISION OF A SOUND ECONOMIC AND LEGAL FRAMEWORK SOUND INFRASTRUCTURE HAS BEEN AND WILL CONTINUE TO BE - THE KEY UNLOCKING HONG KONG'S POTENTIAL AS A REGIONAL BUSINESS CENTRE.'

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