XN000022-1993-10-26 — Page 8

—

7

TUESDAY, OCTOBER 26, 1993

IN HONG

AND LAST WEEK, MR COOPER ATTENDED AN OBCD CONFERENCE KONG WHERE TRADE DELEGATES FROM AROUND THE WORLD HAD GATHERED TO CONSIDER TRADE ISSUES INVOLVING THE DYNAMIC NON-MEMBER ECONOMICS.

-

DURING ONE OF THE AGENDA ITEMS ON TRADE AND THE ENVIRONMENT MR COOPER SPOKE ON THE NEED TO BUILD "SUSTAINABILITY" INTO TRADING POLICIES.

HE PROPOSED THAT NATIONAL ECONOMISTS RE-EXAMINE THE VALUE OF EXPORTS AND RESOURCE DEVELOPMENT SO THAT THEIR TRADE FIGURES ALSO TAKE INTO ACCOUNT THE ENVIRONMENTAL IMPACT OF THE EXPORTS, BY SAY, SUBTRACTING VALUES FOR DESERTIFICATION AND GLOBAL WARMING.

BOOST IN R & D ACTIVITY WITNESSED

*

HONG KONG'S APPLIED RESEARCH AND DEVELOPMENT ( (R & D) HAS RECEIVED A BOOST WITH THE LAUNCHING OF THE APPLIED R & IN FEBRUARY THIS YEAR.

ACTIVITY

D SCHEME

THIS WAS STATED BY THE ASSISTANT DIRECTOR-GENERAL OF INDUSTRY, MR RAYMOND YOUNG, WHEN ADDRESSING A GROUP OF INDUSTRIALISTS AND BUSINESSMEN AT THE HONG KONG CITY POLYTECHNIC INDUSTRIAL CLUB LUNCHEON MEETING TODAY (TUESDAY).

FROM

MR YOUNG SAID THE SCHEME, WHICH HAD RECEIVED $200 MILLION THE GOVERNMENT AS UP-FRONT CAPITAL, WAS DESIGNED ΤΟ INCREASE THE CURRENTLY LIMITED VOLUME OF APPLIED R & D ACTIVITY IN HONG KONG.

"THE ULTIMATE GOAL IS TO IMPROVE THE TECHNOLOGICAL CAPABILITY AND HENCE THE COMPETITIVENESS OF LOCAL INDUSTRY, THEREBY HELPING TO SUSTAIN HONG KONG'S ECONOMIC GROWTH,

|| HE SAID.

HE NOTED THAT THE SCHEME HAD SO FAR RECEIVED 15

AND OVER 200 SERIOUS ENQUIRIES.

APPLICATIONS

SOFTWARE,

THE NATURE OF THE APPLICATIONS RANGES FROM COMPUTER ELECTRONICS CONSUMER PRODUCTS, ENVIRONMENTAL FRIENDLY PRODUCTS TO MACHINERY, SECURITY SYSTEMS AND TELEPHONE DEVICES.

GOOD PROGRESS HAS BEEN MADE BY THE HONG KONG APPLIED R & D FUND COMPANY LIMITED TO PROCESS THE APPLICATIONS AND THE COMPANY HAS ALREADY APPROVED ONE OF THEM.

"ANOTHER THREE ARE NOW IN THE PIPELINE AND WE HOPE THAT APPROVAL CAN BE GRANTED IN THE NEAR FUTURE, HE SAID.

MR YOUNG SAID ALL COMPANIES INCORPORATED UNDER THE COMPANIES ORDINANCE OR STATUTORY BODIES SET UP UNDER THE LAWS OF HONG KONG WHICH UNDERTOOK R & D LOCALLY WERE ELIGIBLE FOR THE SCHEME.

PROJECT PROPOSALS SUBMITTED BY THE COMPANIES WILL BE ASSESED IN TERMS OF THEIR TECHNOLOGICAL MERIT AND POTENTIAL FOR COMMERCIAL EXPLOITATION.

/"APPROVED FUNDS