XN000022-1994-01-14 — Page 5

FRIDAY, JANUARY 14, 1994

MORE FUNDS TO SUPPORT INDUSTRIES

BASIS

THE GOVERNMENT WILL PROVIDE ADDITIONAL FUNDS ON A YEARLY FOR FINANCING INDUSTRIAL SUPPORT PROJECTS FROM APRIL THIS YEAR, THE DIRECTOR-GENERAL OF INDUSTRY, MISS DENISE YUE, SAID TODAY (FRIDAY).

THAT

SPEAKING AT A PRESS CONFERENCE, SHE SAID THE GOVERNMENT HOPED THIS ADDITIONAL FUNDING WOULD HELP STRENGTHEN THE LOCAL INDUSTRIAL INFRASTRUCTURE AND THUS ENHANCE THE COMPETITIVENESS OF LOCAL INDUSTRIES.

SHE SAID THE AMOUNT OF FUNDS TO BE PROVIDED EACH YEAR WOULD BE DECIDED IN THE CONTEXT OF THE GOVERNMENT'S ANNUAL ESTMATES.

FOR THE FINANCIAL YEAR 1994/95, SUBJECT TO THE APPROVAL OF THE ANNUAL ESTIMATES FOR THAT YEAR, A PROVISION OF HK$ 180 MILLION WOULD BE MADE AVAILABLE, SHE ADDED.

MISS YUE POINTED OUT THAT FOUR MAIN TYPES OF LOCAL ORGANISATIONS WOULD BE ELIGIBLE FOR FUNDING SUPPORT, NAMELY, INDUSTRY- SUPPORT BODIES, TRADE AND INDUSTRY ASSOCIATIONS, HIGHER EDUCATIONAL INSTITUTIONS, RESEARCH INSTITUTES AND PROFESSIONAL BODIES.

ON THE NATURE OF THE PROJECTS, MISS YUE SAID NO PRIORITIES WOULD BE GIVEN FOR ANY PARTICULAR SECTOR OF INDUSTRY OR ANY SPECIFIC AREA OF TECHNOLOGY.

HOWEVER, SHE NOTED THAT PROJECTS ELIGIBLE FOR FUNDING SUPPORT SHOULD BE ABLE TO CONTRIBUTE то THE OVERALL INDUSTRIAL OR TECHNOLOGICAL DEVELOPMENT OF HONG KONG AND TO THE COMPETITIVENESS OF HONG KONG'S MANUFACTURING INDUSTRIES.

EXAMPLES ARE THOSE THAT AIM TO PROVIDE A COMMUNAL INDUSTRY- SUPPORT SERVICE, INTRODUCE NEW TECHNIQUES OF MANUFACTURING, INCREASE PRODUCTIVITY OR ENHANCE THE INFRASTRUCTURAL SUPPORT TO INDUSTRY.

ANOTHER CRITERION IS THAT PROJECTS SHOULD BE NON-PROFIT-MAKING IN NATURE, EXCEPT FOR THE PURPOSE OF SELF-SUFFICIENCY IN THE LONG TERM.

ADMINISTERED

MISS YUE SAID THE ADDITIONAL FUNDING WOULD BE

BY THE INDUSTRY DEPARTMENT UPON THE ADVICE OF THE INDUSTRY AND TECHNOLOGY DEVELOPMENT COUNCIL (ITDC).

"ALL APPLICATIONS RECEIVED WILL BE CONSIDERED BY THE ITDC, WHICH WILL BE ASSISTED BY A PROJECTS VETTING COMMITTEE COMPRISING THE CHAIRMEN OF ITDC'S COMMITTEES AND OTHER ITDC MEMBERS.

"THE ITDC WILL MAKE RECOMMENDATIONS TO THE DIRECTOR-GENERAL OF INDUSTRY ON WHETHER AN APPLICATION SHOULD BE SUPPORTED AND, IF

So, THE TERMS AND CONDITIONS OF FUNDING SUPPORT, SHE SAID.

"

FUNDING SUPPORT WILL IN MOST CASES TAKE THE FORM OF GRANTS, THOUGH IT MAY ALSO RE IN THE FORM OF INTEREST-FREE OR INTEREST-BEARING LOANS.

MISS YUE

URGED

INTERESTED

APPLICATIONS FOR FUNDING SUPPORT TO THE

AS POSSIBLE BEFORE MARCH 3.

ORGANISATIONS

TO SEND IN INDUSTRY DEPARTMENT AS SOON

/APPLICATIONS SUBMITTED