"Singapore is Hong Kong's seventh largest external investor in the manufacturing sector, with total investment estimated at about S$190 million by end of 1994," he said.
He added that the close relationship between Singapore and Hong Kong was the reason why the Hong Kong Government had chosen to establish in Singapore the Hong Kong Economic and Trade Office (HKETO) for the ASEAN region.
Mr Tsang is continuing the second leg of his Southeast Asian trip to Singapore.
He met with the Prime Minister Mr Goh Chok Tong in the afternoon to discuss matters of mutual interest. He also visited the Economic Development Board of Singapore and had a useful exchange with its Chairman, Mr Philip Yeo.
The Financial Secretary will officiate at the opening ceremony of HKETO and Hong Kong Tourist Association office in Suntec City, Singapore, later this evening.
Minister of State for Trade and Industry of Singapore, Mr Goh Chee Wee, will be the guest of honour of the grand opening reception of the Singapore office.
End
Bill to amend hotel and guesthouse laws gazetted
A bill to amend three ordinances concerning hotels and guesthouses to address their deficiencies was gazetted today (Friday).
A spokesman for the Home Affairs Branch said today (Friday) that the Hotel Accommodation (Miscellaneous Provisions) Bill 1996 was introduced to amend some provisions of the Hotel and Guesthouse Accommodation Ordinance, the Hotel Proprietors Ordinance and the Hotel Accommodation Tax Ordinance.
The Hotel and Guesthouse Accommodation Ordinance, which was enacted in May 1991, provides for a licensing scheme to regulate hotel and guesthouse accommodation to ensure that these establishments comply with requirements on fire and building safety, health and hygiene.
The spokesman said in implementing the licensing scheme, the Home Affairs Department's Licensing Authority (LA) identified several deficiencies in the ordinance.
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