XN000022-1993-07-21 — Page 4

WEDNESDAY, JULY 21, 1993

HK OFFERS OPPORTUNITIES FOR JAPANESE BUSINESSMEN

*

THE ECONOMIC AND TRADE RELATIONSHIP BETWEEN HONG KONG AND JAPAN AFTER 1997 WILL BECOME EVEN MORE SIGNIFICANT AND EVEN MORE BENEFICIAL

PLACES TO BOTH

BECAUSE HONG KONG IS ALWAYS FULL OF BUSINESS OPPORTUNITIES, THE SECRETARY FOR TRADE AND INDUSTRY, MR TH CHAU, SAID

TODAY (WEDNESDAY).

SPEAKING

AT A SEMINAR IN OSAKA, JAPAN, MR CHAU SAID HONG HAD ONE OF THE SOUNDEST ECONOMIES IN THE WORLD TODAY.

KONG

"DESPITE RECESSIONS IN OUR MAJOR MARKETS, HONG KONG'S ECONOMY GREW BY 5% IN REAL TERMS IN 1992 AND IS EXPECTED TO GROW BY 5.5% IN REAL TERMS IN 1993."

GROSS DOMESTIC PRODUCT GROWTH IS FORECAST TO GROW AT AN AVERAGE RATE OF 5% IN REAL TERMS FOR THE NEXT FEW YEARS.

SOMB

PER CAPITA GDP IS FORECAST TO REACH US$18,800 (TWO MILLION YEN) BY THE END OF 1993, HIGHEST IN ASIA AFTER JAPAN AND HIGHER THAN MEMBER STATES OF THE EUROPEAN COMMUNITY, HE SAID.

AND

"JAPANESE JAPANESE

HE NOTED THAT GROWING AFFLUENCE MEANT THAT HONG WOULD CONTINUE TO HAVE A FANTASTIC APPETITE FOR JAPANESE GOODS.

CARS WILL CONTINUE TO DOMINATE THE HONG KONG PRODUCTS WILL CONTINUE TO FILL THE DEPARTMENT STORES AND SHOPS, HE ADDED.

KONG

PEOPLE

SHELVES

MARKET OF OUR

CHAU POINTED MR

OUT THAT THERE WERE OPPORTUNITIES AS HONG KONG PREPARED FOR ITS UPGRADING ITS PHYSICAL INFRASTRUCTURE.

ALSO OTHER EXCITING FUTURE BY BRILLIANT

"THE HONG KONG GOVERNMENT WILL SPEND HK$78 BILLION (1,100 BILLION YEN) ON PUBLIC WORKS IN THE NEXT FIVE YEARS.

ON TOP OF THIS, THERE IS OF COURSE THE NEW AIRPORT WHICH IS NOW BEING BUILT, MR CHAU SAID.

STATE-OF-THE-ART

THE NEW AIRPORT IN HONG KONG WOULD BE BUILT ON AN ISLAND AND ON LAND RECLAIMED FROM THE SEA AND THERE WOULD BE AN IMPRESSIVE SYSTEM OF AIRPORT BRIDGES, TUNNELS, SUPER-HIGHWAYS AND RAILROAD LINKING THE NEW AT CHEK LAP KOK WITH THE CITY, HE SAID.

ENORMOUS

THEIR "WITH

STRENGTHS IN THE CONSTRUCTION AND FINANCIAL SECTORS IN HONG KONG, JAPANESE COMPANIES ARE WELL POSITIONED TO TAKE ADVANTAGE OF THE OPPORTUNITIES PRESENTED BY THE WORKS PROJECTS IN THE PIPELINE," MR CHAU ADDED.

OF THE

HE NOTED THAT MITSUI WAS INVOLVED IN THE CONSTRUCTION TSING MA BRIDGE A PROJECT COSTING HK$7.1 BILLION (99 BILLION YEN).

THE

BILLION

(22

A KUMAGAI-MAEDA-YOKGAWA-HITACHI JOINT VENTURE WAS BUILDING SHUI

HK$1.6 MUN BRIDGE AND MA WAN VIADUCT COSTING KAP BILLION YEN).

/KUMAGAI GUMI