XN000022-1994-05-09 — Page 12

10

MONDAY, MAY 9, 1994

39 INDUSTRIAL PROJECTS GRANTED FUNDS

TODAY

$180

TECHNOLOGY DEVELOPMENT COUNCIL (ITDC) THE INDUSTRY, AND

GOVERNMENT'S (MONDAY) APPROVED 39 PROJECTS TO BE FINANCED BY THE MILLION ADDITIONAL FUNDS FOR INDUSTRIAL SUPPORT THIS FINANCIAL YEAR.

SUPPORTING

THE FUNDS, TO BE PROVIDED ON A YEARLY BASIS, AIM AT INDUSTRIAL PROJECTS WHICH CAN CONTRIBUTE TO THE OVERALL INDUSTRIAL COMPETITIVENESS TECHNOLOGICAL DEVELOPMENT OF HONG KONG AND TO THE HONG KONG'S MANUFACTURING INDUSTRIES.

SPEAKING AT A PRESS CONFERENCE, THE ASSISTANT

OR OF

DIRECTOR-GENERAL

PROJECTS

OF INDUSTRY, MR RAYMOND YOUNG, SAID THAT ALL THE 39 APPROVED COULD FULFILL THIS OBJECTIVE.

PROJECTS

BE COULD

ENVIRONMENTAL TRAINING,

CATEGORISED

AS

CONTROL,

HE SAID THE NATURE OF THE

SUPPORT, INFRASTRUCTURE

MANPOWER PROMOTION OF NEW TECHNOLOGY AND INDUSTRIAL DATA BASE DEVELOPMENT.

"THE VETTING PROCESS WAS NOT EASY BECAUSE TECHNICAL NATURE OF THE APPLICATIONS.

OF THE VOLUME AND

OF SECTORS

INDUSTRY

EXPERT OPINIONS FROM MEMBERS OF VARIOUS WERE SOUGHT IN THE VETTING PROCESS, AND THE MAIN CRITERION ADOPTED BY

VETTING COMMITTEE (PVC) OF THE ITDC MEMBERS OF THE PROJECTS

WAS IS, WHETHER THERE WHETHER THE APPLICATION WAS 'MARKET DRIVEN', THAT WAS A GENUJNE NEED

THE DELIVERABLES OF

PROPOSED PROJECT," HE SAID.

IN THE

INDUSTRY FOR THE

THE TOTAL PROJECT COST, AMOUNTING TO SOME $289 MILLION PERIOD OF

WOULD YEARS,

TO THREE

BE DISBURSED

COST ESTIMATES ORGANISATIONS ACCORDING TO THE YEARLY PROJECTS.

OVER A THE APPLICANT OF INDIVIDUAL

FUNDS REQUIRED IN THE 1994/95 FINANCIAL YEAR $139 MILLION, WITH A COMMITMENT OF $91 MILLION FISCAL YEARS 1995/96 AND 1996/97 RESPECTIVELY.

SUCCESSFUL

AND

WOULD RE AROUND $59 MILLION FOR

OF THESE

INSTITUTIONS,

APPLICATIONS, 21

FROM INDUSTRIAL PRODUCTIVITY COUNCIL, 12 FROM SUPPORT BODIES SUCH AS THE HONG KONG HIGHER EDUCATION

FIVE FROM TRADE AND INDUSTRIAL ORGANISATIONS AND ONE FROM A RESEARCH INSTITUTE.

ARE

"THE SUCCESSFUL APPLICANTS WILL BE INFORMED OF THE DECISION

POSSIBLE THE ITDC SHORTLY AND FUNDS WILL BE DISBURSED AS SOON AS

MR YOUNG SAID. PROJECTS WHICH COST LESS THAN $10 MILLION,

OF

FOR

T1

TO

RE

FOR

T11E APPROVED PROJECTS WILL HAVE "HOWEVER, THREE OF

OF THE LEGISLATIVE COUNCIL. SUBMITTED TO THE FINANCE COMMITTEE APPROVAL BECAUSE THEIR PROJECT COST EXCEEDS $10 MILLION," HE SAID.

PRODUCT

DEVELOPMENT

CENTRE CENTRE AND

IN THE

THE NAMELY, ARE, THEY TELECOMMUNICATIONS, THE RAPID PROTOTYPING TECHNOLOGY CENTRE FOR LIQUID CRYSTAL DISPLAY RESEARCH.

/MR YOUNG