XN000022-1992-07-15 — Page 32

WEDNESDAY, JULY 15, 1992

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INFRASTRUCTURAL INVESTMENT A MUST: GOVERNOR

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HONG

KONG HAS GOT TO INVEST IN ITS INFRASTRUCTURE SO THAT IT CAN GO ON BEING PROSPEROUS AND STABLE, THE GOVERNOR, THE RT HON CHRISTOPHER PATTEN, SAID TODAY (WEDNESDAY).

SPEAKING TO REPORTERS AFTER A FULL DAY SEEING VARIOUS PORT AND AIRPORT DEVELOPMENT PROJECTS, MR PATTEN NOTED THAT HONG KONG'S COMPETITORS IN ASIA WERE NOT STANDING STILL.

"WE GOT TO DO A GREAT DEAL OURSELVES TO MAKE SURE THAT HONG KONG IS CONFIRMED AS ONE OF THE ECONOMIC CAPITALS OF THE WORLD, HE SAID.

MR PATTEN SAID THE PORT FACILITIES WERE ONE OF THE MAJOR REASONS FOR THE SUCCESS OF THE HONG KONG ECONOMY.

"I'VE BEEN LOOKING AT ALL THE PROJECTS WHICH ARE ASSOCIATED WITH THE NEW AIRPORT TODAY. THE DEVELOPMENT OF THE PORT TERMINAL, THE AIRPORT ITSELF, THE LAND RECLAMATION AND THE NEW ROADS. THESE ARE A REALLY IMPORTANT DEVELOPMENT OF OUR INFRASTRUCTURE, HE ADDED.

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"OBVIOUSLY THESE WILL BE AMONG THE MOST IMPORTANT PROJECTS WHICH I WILL BE FOLLOWING DURING MY FIVE YEARS AS GOVERNOR, MR PATTEN SAID.

IN REPLY TO A QUESTION ON THE FINANCING OF THE NEW AIRPORT, MR PATTEN SAID:

"I VERY MUCH HOPE THAT THE AIRPORT COMMITTEE WILL MOVE FORWARD THIS WEEK AND WILL IN DUE COURSE FIND SOLUTIONS ΤΟ THE PROBLEMS THAT HAVE ARISEN, BECAUSE IT'S IN EVERYONE'S INTEREST THAT

SHOULD PRUDENTLY SOLVE THESE PROBLEMS AS QUICKLY AS WE CAN."

WE

ASKED TO COMMENT ON THE ANNOUNCEMENT CONCERNING THE EXCHANGE FUND, MR PATTEN SAID MOST MEMBER COUNTRIES OF THE INTERNATIONAL MONETARY FUND DISCLOSED THEIR FIGURES.

"I THINK IT WAS SENSIBLE THEREFORE FOR US TO DISCLOSE OURS.

WHAT THEY SHOW IS THE UNDERLYING STRENGTH OF THE ECONOMY.

"THEY SHOW US FAR BETTER PLACED THAN MOST OTHER COUNTRIES AND MUCH BETTER PLACED IN TERMS OF THE SECURITY THAT SUPPORTS OUR CURRENCY THAN, FOR EXAMPLE SOME OF THE RICHEST COUNTRIES AND LARGEST COUNTRIES IN THE WORLD.

"I THINK THEY'RE A SIGN OF HONG KONG'S CONTINUING STRENGTH AND INDICATION OF HOW DETERMINED WE ARE TO GO ON HANDLING OUR ECONOMIC AFFAIRS PRUDENTLY AND SENSIBLY FOR THE FORESEEABLE FUTURE.

WITH

AND

"IT CONFIRMS FOR EVERYONE THAT HONG KONG IS A VERY STRONG, STABLE

STABLE ECONOMY, AND WILL BECOME STRONGER AND EVEN MORE SPLENDID ENTREPRENEURS LIKE THOSE I'VE MET TODAY AND WITH GOOD SENSIBLE MANAGEMENT OF OUR ECONOMY.

/EARLIER, ACCOMPANIED