XN000022-1993-11-30 — Page 19

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TUESDAY, NOVEMBER 30, 1993

MR

HO NOTED THAT THERE WERE A WHOLE RANGE OF ORGANISATIONS IN HONG KONG TO HELP MANUFACTURERS UPGRADE THEIR TECHNOLOGY.

"ONE OF OUR LATEST INITIATIVES IS THE ESTABLISHMENT OF AN INDUSTRIAL TECHNOLOGY CENTRE TO PROVIDE INCUBATOR SERVICES.

"WHEN THIS CENTRE IS FULLY OPERATIONAL THIS TIME NEXT YEAR, IT WILL ASSIST IN TECHNOLOGY TRANSFER TO HONG KONG'S INDUSTRIES AND STIMULATE RESEARCH AND INNOVATION," HE SAID.

US$25

ANOTHER INITIATIVE IS THE PROVISION OF A FUND TOTALLING MILLION BY THE GOVERNMENT TO HELP COMPANIES IN APPLIED RESEARCH AND DEVELOPMENT PROJECTS.

"IN RETURN, THE GOVERNMENT SHARES IN THE BENEFITS FROM COMMERCIALLY VIABLE PROJECTS WHICH IT HAS SUPPORTED, MR HO SAID.

'HE

*

POINTED OUT THAT HONG KONG'S UNIQUE POSITION WAS ANOTHER ATTRACTION IT HAD FOR OVERSEAS INVESTORS.

"AS THE GATEWAY TO CHINA, CHINA'S WINDOW ON THE WORLD AND THE ENGINE FOR CHINA'S PHENOMENAL ECONOMIC GROWTH, HONG KONG IS UNIQUELY PLACED TO HELP THOSE FOREIGN INVESTORS WHO WOULD LIKE TO TAKE PART WHAT IS PERHAPS THE SINGLE BIGGEST ECONOMIC TAKEOFF IN THIS CENTURY," HE SAID,

IN

ACCORDING TO THE JAPANESE MINISTRY OF FINANCE, UP TO LAST YEAR JAPANESE INVESTMENT IN HONG KONG AMOUNTED TO ABOUT US$11.5 BILLION AND THIS ACCOUNTED FOR ONE-FIFTH OF TOTAL JAPANESE INVESTMENT IN ASIA,

ON MANUFACTURING ALONE, JAPANESE INVESTMENT INCREASED BY ALMOST TWO-FOLD FROM 1985 TO 1991.

"TODAY,

JAPAN IS THE LEADING FOREIGN INVESTOR IN HONG KONG'S MANUFACTURING INDUSTRIES, ACCOUNTING FOR 32 PER CENT

OF THE TOTAL FOREIGN INVESTMENT IN THIS SECTOR, HE NOTED.

"

LOOKING AHEAD, MR HO SAID HONG KONG WOULD REMAIN A SEPARATE ECONOMIC ENTITY AFTER 1997.

AS A HIGHLY AUTONOMOUS SPECIAL ADMINISTRATIVE REGION OF CHINA, HONG KONG WOULD CONTINUE TO BE A SEPARATE CUSTOMS TERRITORY AND THE BORDER BETWEEN HONG KONG AND SHENZHEN WOULD CONTINUE то EXIST, HE SAID.

HONG KONG WOULD ALSO CONTINUE TO BE A SEPARATE MEMBER GENERAL ACREENENT ON TARIFFS AND TRADE AND WOULD CONTINUE TRADE AND ECONOMIC DECISIONS ENTIRELY ON ITS OWN, HE ADDED.

OF THE ΤΟ MAKE

"ALL THIS IS PROVIDED FOR IN BOTH THE SINO-BRITISH JOINT DECLARATION ON HONG KONG'S FUTURE AND THE BASIC LAW FOR THE SPECIAL ADMINISTRATIVE REGION OF HONG KONG WHICH WILL COME INTO BEING IN JULY

1997.

"AND IT IS WHOLLY RIGHT THAT IT SHOULD BE SO, FOR IT IS BY REMAINING AN AUTONOMOUS TRADING PARTNER AND A SEPARATE ECONOMIC FORCE THAT HONG KONG CAN BEST RETAIN ITS DYNAMISM, BUILD ON ITS CURRENT ROLE AND CONTINUE TO BE OF BENEFIT TO ITSELF AND TO CHINA," MR HO SAID.

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