XN000022-1993-12-30 — Page 6

HK

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THURSDAY, DECEMBER 30, 1993

AN ATTRACTIVE MANUFACTURING BASE

THE

KONG'S KONG

HONG GROWTH OF OVERSEAS INVESTMENT IN CONTINUOUS MANUFACTURING INDUSTRIES DEMONSTRATES THE ATTRACTIVENESS OF HONG AS A MANUFACTURING BASE, THE DIRECTOR-GENERAL OF INDUSTRY, MISS DENISE YUE, SAID.

MISS YUE WAS COMMENTING ON THE RESULTS OF THE CONDUCTED BY THE INDUSTRY DEPARTMENT ON OVERSEAS INVESTMENT

INDUSTRIES AT MANUFACTURING

A PRESS CONFERENCE KONG'S (THURSDAY).

LATEST SURVEY IN HONG

TODAY

BILLION

SHE SAID THE TOTAL VALUE OF OVERSEAS INVESTMENT AT THE END

THAN THE EIGHT PER CENT $37.3

HIGHER BILLION, IN

IT WAS MORE THAN THREE THE PREVIOUS YEAR.

FIRST SUCH IN 1984 WHEN THE OF $11.4

OF

TIMES SURVEY

AMOUNT THE

WAS

1992 WAS IDENTIFIED FIGURE CONDUCTED.

"THE INCREASE WAS LARGELY ACCOUNTED FOR BY THE RISE IN STOCK OF FIXED ASSETS WHICH, VALUED AT $24.2 BILLION, WAS 15 PER CENT MORE THAN IN 1991," MISS YUE SAID.

OF

SOURCE LEADING SHE NOTED THAT JAPAN CONTINUED TO BE THE OVERSEAS INVESTMENT IN HONG KONG'S MANUFACTURING INDUSTRIES, ACCOUNTING FOR 33 PER CENT OF THE TOTAL, WITH $12.4 BILLION.

THE UNITED STATES CAME SECOND, WITH INVESTMENT TOTALLING BILLION, 27 PER CENT OF THE TOTAL, FOLLOWED BY CHINA, ACCOUNTING $4.1 BILLION (11 PER CENT OF THE TOTAL).

ALL THREE COUNTRIES HAD INCREASED THEIR INVESTMENTS WITH JAPAN GROWING BY 13 PER CENT, THE UNITED STATES CENT AND CHINA 10 PER CENT.

KONG,

$10.1

FOR

IN HONG FIVE PER

AND CLOTHING,

CENT

THE ELECTRONICS, ELECTRICAL PRODUCTS, TEXTILES AND FOOD AND BEVERAGES INDUSTRIES ACCOUNTED FOR MORE THAN 60 PER OF TOTAL OVERSEAS INVESTMENT LAST YEAR.

"AS THE

DEPARTMENT

RESPONSIBLE

OVERSEAS

WE ARE ALSO

FOR PROMOTING INVESTMENT IN THE MANUFACTURING INDUSTRY IN HONG KONG, INTERESTED IN THE QUALITY OF OVERSEAS INVESTMENT," MISS YUE SAID.

THEIR

"WE BELIEVE THAT HONG KONG'S MANUFACTURERS MUST UPGRADE PRODUCTIVITY AND THE QUALITY OF THEIR PRODUCTS TO REMAIN COMPETITIVE.

+4

'AND A MAJOR AIM OF THE INDUSTRY DEPARTMENT'S INWARD INVESTMENT PROMOTION PROGRAMME IS TO ENCOURAGE OVERSEAS INVESTORS TO INTRODUCE TO

OR NEW

IMPROVED THEIR INVESTMENTS, HONG KONG,

PRODUCTS, THROUGH TECHNOLOGIES, DESIGNS AND MANAGEMENT TECHNIQUES," SHE ADDED.

WITH

PER CENT)

THE SURVEY FOUND THAT 186 OF THE 472 FACTORIES (39) AN OVERSEAS INTEREST WERE JOINT VENTURES WITH LOCAL PARTNERS, A TECHNOLOGY FORM OF CO-OPERATION WICH PROVIDED A GOOD OPPORTUNITY FOR TRANSFER.

/IN 178