TNAG-1482-FCO40-2036-Economic-and-commercial-value-of-Hong-Kong-to-the-UK-1986 — Page 67

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EXPLANATION

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The North of England Development Council (NEDC) is the only UK

regional development agency represented (through a consultant) in Hong

Kong and will have a full-time presence in the territory from

October 1986 as a headquarters for the Far East. However, Birmingham

City do maintain a trade and investment office in Hong Kong.

The Hong Kong market has internationally known strengths in

textiles, plastics and electronics and many of the leading companies

export in volume to the USA and EEC.

Due to increasing protectionism abroad and rising costs at home

coupled with political insecurity, Hong Kong businessmen are making and

will continue to make sensible, viable investments overseas.

Locationally, these projects will tend to go where a straightforward

immigration package is also on offer such as in Australia, Canada, USA,

Eire and many less developed countries (including Portugal because of the

Macao connection).

Such ventures bring jobs, capital and the renowned Hong Kong Chinese

entrepreneurial zeal to the countries concerned.

The United Kingdom has not benefited greatly from industrial

projects from Hong Kong, although the North East has, fortunately,

received the largest share.

Although there is still an emotional tie

between UK and Hong Kong, particularly for those businessmen in the

territory who are associated with or were educated here or whose children

are at school here, political realities and the less than appropriate

immigration package on offer in Britain puts this country, and of course the North East, at a decided disadvantage when competing for Hong Kong

projects.

a.