XN000022-1992-10-22 — Page 5

THURSDAY, OCTOBER 22, 1992

HK'S INFRASTRUCTURE DEVELOPMENT KEY TO ECONOMIC GROWTH

* * * * *

LEAD

THE HONG KONG GOVERNMENT IS DETERMINED TO TAKE AN ACTIVE IN AREAS WHERE ITS INVOLVEMENT IS NECESSARY ΤΟ PROMOTE FURTHER INVESTMENT AND GROWTH,

DIRECTOR OF THE NEW AIRPORT PROJECTS CO-ORDINATION OFFICE,

RAFAEL HUI, SAID IN VANCOUVER, CANADA, YESTERDAY (WEDNESDAY).

THE

MR

HERE THE GOVERNMENT HAS

"ONE OF THESE AREAS IS INFRASTRUCTURE. ALWAYS TAKEN A LEADING PART IN DEVELOPING LAND RECLAMATIONS, ROADS, RAILWAYS, PORT FACILITIES AND SO ON,' HE SAID.

H

OF

HONG MR HUI WAS ADDRESSING A BUSINESS SEMINAR ORGANISED BY THE KONG TRADE DEVELOPMENT COUNCIL IN VANCOUVER AS PART

THE FESTIVAL

HONG KONG 192.

IN HIS SPEECH ON "OPPORTUNITIES FOR INFRASTRUCTURAL

MR HUI DEVELOPMENTS IN HONG KONG",

ALSO OUTLINED PROGRESS ON THE AIRPORT CORE PROGRAMME (ACP).

"OVER THE PAST 10 YEARS, FOR EXAMPLE, THE GOVERNMENT'S

UP ABOUT 20 EXPENDITURE ON PUBLIC WORKS HAS, ON AVERAGE, TAKEN

OR THREE TO FOUR CENT OF TOTAL ANNUAL GOVERNMENT EXPENDITURE, CENT OF THE GROSS DOMESTIC PRODUCT (GDP).

PER

PER

"IN 1992/93, THE EXPENDITURE IS EXPECTED ΤΟ REACH HK$28.2

REPRESENTING BILLION,

23.3 PER CENT OF THE ESTIMATED GOVERNMENT EXPENDITURE OR 2.9 PER CENT OF THE ESTIMATED GDP.

"IT IS ENVISAGED THAT THE INVESTMENT LEVEL WILL GROW FURTHER

THE IN THE NEXT 10 YEARS WITH

IMPLEMENTATION OF THE AIRPORT CORE PROJECTS," HE SAID.

INVESTMENT WAS

MR HUI STRESSED THAT SUCH HEAVY INFRASTRUCTURE ESSENTIAL TO THE LONG-TERM ECONOMIC WELL-BEING OF HONG KONG.

WILL "WITHOUT IT, ECONOMIC GROWTH

SLOW DOWN AND BUSINESSES WILL DECLINE OR MOVE ELSEWHERE. THAT IN TURN

THE WILL AFFECT GOVERNMENT'S REVENUES AND THEREFORE ITS ABILITY ΤΟ PROVIDE SOCIAL

H HE SAID. SERVICES IN A SOCIETY WHICH EXPECTS THE GOVERNMENT TO CARE,

AS INFRASTRUCTURE PROJECTS ARE SO LARGE, IT IS OFTEN FOR THE GOVERNMENT TO TAKE A LEAD, MR HUI SAID.

"BUT THE PRIVATE SECTOR ALSO PLAYS A VERY IMPORTANT YOU WOULD EXPECT IN A PLACE WHICH THRIVES ON BUSINESS,

11

NECESSARY

ROLE, HE SAID.

AS

THAT

DEVELOPMENTS THE LEAD GIVEN BY THIS OPENED UP FOR THE

TAKING SOME OF HONG KONG'S MAJOR INFRASTRUCTURAL AS EXAMPLES, MR HUI SAID THESE DEMONSTRATED BOTH THE GOVERNMENT AND THE OPPORTUNITIES PRIVATE SECTOR.

/THESE DEVELOPMENTS