TNAG-1482-FCO40-2036-Economic-and-commercial-value-of-Hong-Kong-to-the-UK-1986 — Page 53

Invest in Britain

Invest in Britain Bureau

Department of Trade and Industry Bridge Place

88-89 Eccleston Square London SW1V1PT

Direct line 01-212 0998 or Telephone 01-212 6251 Telex 268843 DTI ESQ G

(on the corner of Belgrave Road and Bridge Place)

RESTRICTED

Mr CO Hum

Hong Kong Department

Foreign and Commonwealth Office London

SW1A 2AH

HKK090/1

28 JUL 1986

A batte

Аллё 1. Ревра сый

I Wit & NZ0?

9 July 1986

Cu 1/

Dear Hum

дов

28771

HONG KONG: INDUSTRIAL INVESTMENT BOARD OR NORTHERN IRELAND

13.

Thank you for your letter of 7 July.

?|

I am very aware of the need for circumspection in the promotion in Hong Kong of inward investment to the UK. As far as this organisation's operations and those of the English regional bodies which we support with grant-in-aid are concerned, we are content to accept the need for restrictions and will abide by them.

As for the Irish Development Board, I regret that my influence is very small. They have devolved powers and their own finance both of which greatly exceed those of IBB. Co-ordination of promotional efforts by the Committee on Overseas Promotion only relates to voluntary exchange of performance targets on outturns and to guide- lines for the operations of COP members whose staff visit Japan or other overseas places, and to liaison of staff based in the USA with the DS posts.

I understand that the Hong Kong problem was raised by the FCO representative at a COP meeting at which the IDB were represented, but clearly the message has not sunk in. I am happy to lend my support to your efforts, but if I were you I should arrange for one of your Ministers to draw the matter to the attention of the Secretary of State for Ireland. I doubt if anything less will have much impact. The desperate problems faced by Northern Ireland in attracting investment inevitably lead to the IDB exploiting every conceivable avenue. Hong Kong to them must seem an ideal target. The temptation to play the haven for funk money card for all it's worth must be very strong especially since we suspect the Republic is going very hard for the same target without the same political inhibitions.

W

As I mentioned above, the IDB are a quite independent body and not beholden to DTI in any way. I have a strong interest in seeing that they obey any restrictions which we accept but no locus to enforce them.

your sucerely Christopher Ph

J S C PRISTON

BRITAIN MEANS BUSINESS

ENGLAND NORTHERN IRELAND) · SCOTLAND-WALES