"QITJANTUROU
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CDUVHTIUN & PIHNFUWER DR
10.
At $34 million,
the fund would be able to finance only 200 traineeships а year. If the size of the fund is doubled, the number of beneficiaries would become 400, which will enable the training scheme to have a more significant impact on the local manufacturing scene. It is therefore proposed that a fund of about $70 million should be established.
11.
The
Vocational Training
Council will be requested to manage the fund, maintain a separate fund account and prepare annual audited financial statements. The assets of the fund will be distinguished from the assets of the VTC. Contributions from the Government and the private sector will be credited directly to the fund. The VTC will also be asked to be responsible for the investment of surplus funds. In order to facilitate the management of the fund, it will be established by an ordinance.
12.
The annual administrative and staff costs to the VTC, Hồng Kong Productivity Council and Industry Department related to the scheme are estimated to be $2 million. They by interest and earnings generated from the
will be covered fund.
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Private notes are available after approval.