XN000022-1994-10-05 — Page 25

WEDNESDAY, OCTOBER 5, 1994

19

BUSINESS INITIATIVE AND INVESTMENT TO BE ENCOURAGED

THE RT

THE GOVERNMENT WILL CONTINUE TO MAKE A SUBSTANTIAL CONTRIBUTION TO

ENHANCING HONG KONG'S BUSINESS ENVIRONMENT, THE GOVERNOR, HON CHRISTOPHER PATTEN, SAID.

IN HIS POLICY ADDRESS TO THE

HE (WEDNESDAY),

ANNOUNCED THE FOLLOWING INITIATIVE AND INVESTMENT:

COUNCIL LEGISLATIVE

то PROGRAMMES

TODAY ENCOURAGE

*

NEW INCENTIVES WILL BE PROVIDED TO UPGRADE TECHNOLOGY STANDARDS IN MANUFACTURING. THESE MEASURES INCLUDE PLANS TO WHICH PROVIDE, BY 1996, 70 HECTARES OF LAND FOR INDUSTRIES CANNOT USE MULTI-STOREY BUILDINGS, AS WELL AS MORE SPACE FOR NEW TECHNOLOGY-BASED BUSINESSES;

HONG KONG'S CAPACITY FOR ADVANCED RESEARCH WILL BE EXPANDED. COMMITTEE YEAR, THE UNIVERSITY AND POLYTECHNIC GRANTS THIS HAS

67 PER ALLOCATED $260 MILLION FOR RESEARCH PROJECTS,

WILL BE CENT MORE THAN LAST YEAR, NEXT YEAR, $50 MILLION PROVIDED TO ESTABLISH AN APPLIED RESEARCH CENTRE WHICH PROMOTE JOINT PROJECTS WITH CHINA'S INSTITUTES;

LEADING

WILL

RESEARCH

FIVE YEARS KONG NEEDS;

* TRANSPORT INFRASTRUCTURE WILL CONTINUE TO BE UPGRADED.

GOVERNMENT PLANS TO SPEND ABOUT $30 BILLION OVER

ON CREATING THE MODERN ROAD SYSTEM

THE

THE

NEXT

WHICH

HONG

*

APPROVALS.

IMMIGRATION PROCEDURES WILL BE FURTHER SIMPLIFIED TO SPEED UP THE PROCESSING OF VISA

AND APPLICATIONS ANYTHING WHICH FACILITATES TRAVEL FACILITATES BUSINESS; AND

THE

PAPERWORK IN FOREIGN TRADE WILL BE REDUCED. FROM 1996, NEW COMMUNITY ELECTRONIC TRADING SERVICE WILL ENABLE BY BUSINESSES TO COMPLETE KEY IMPORT AND EXPORT PROCEDURES COMPUTER.

MR PATTEN SAID EVERY MEMBER AND EVERY POLITICAL GROUP LEGISLATIVE COUNCIL RECOGNISED THAT THE BUSINESS COMMUNITY ENGINE OF HONG KONG'S ECONOMIC SUCCESS.

IN THE WAS THE

"I THINK WE ALL RECOGNISE THE IMPORTANCE OF THE BUSINESS SECTOR

то CONTINUING

PLAY A FULL PART IN GOVERNMENT POLICY-MAKING NO CONTRIBUTING

FULLY LESS

TO THE WIDER

OF PROCESS DISCUSSION AND DEBATE.

AND

POLITICAL

"WE MUST ENSURE THAT THE

DEMOCRACY IN HONG KONG DOES NOT LEAD TO TENSION

OUR WEALTH AND THOSE WHO VOTE FOR CREATE SPENDING AND OUR LAWS.

"WITH

UNDERSTANDING ON BOTH SIDES, THERE IS NO REASON

SHOULD," HE SAID.

STEADY, PROMISED DEVELOPMENT

OF

OUR

THOSE BETWEEN TAXES,

WHO OUR PUBLIC

WHY IT

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