TNAG-1159-FCO40-1439-Visit-by-Margaret-Thatcher--UK-Prime-Minister--to-Hong-Kong--1982 — Page 80

1

-3-

the lessons of competitiveness and performance as the key to

success. In short, that the world does not owe them or the

United Kingdom a living.

So much for the general picture. You have in Hong Kong always

had a concern for the recreation of enterprise, for the emergence

of new firms and sectors which reflect the changing circumstances

in your own environment and that which faces you in other economies.

We too have always been very aware of the changes in the patterns

of industrial activity flowing from the constant evolution of our

economies, Western and Eastern, and the need to ensure that our

own economy evolves in response. Innovation, in dynamic sectors

like information technology, and the scope for firms to grow or

be born are keys to that evolution.

core

the

and ente

divifinamust supports

A

We therefore encourage innovation and new technology. We look

increasingly to investing more in the future and less on supporting

the casualties of the past. In the area of direct financial support for industry we are moving the balance away from nationalised

industries and the public sector and towards measures to help industry

to innovate. At-present We are providing support for the development

of ease technologies such as microelectronics, fibre optics and

biotechnology for the use of new technology in flexible manufacturing

systems or office systems; and for the development of new information

technology products, including computer software. Support has almost

doubled in real terms since my Government came to office.

shows the strength of our commitment to advancing innovation.

That